DeFi bug accidentally gives $90 million to users, founder begs them to return it
After an upgrade gone wrong, $90.1 million was accidentally sent to users of the popular decentralized finance, or Defi, staking platform Compound. Now, the platform’s founder is pleading — and threatening — for the platform’s crypto tokens to be returned voluntarily.
On hearing of the flaw, the price of Compound’s native token, comp, dropped roughly 13% in one day. However, it has since recovered.
It remains to be seen whether prize recipients choose to return millions of dollars to the platform, but if history is any indication, it is very likely.
According to Defi Llama, which ranks and monitors Defi protocols, Compound is the world’s fifth-largest Defi protocol, with a total value of $9.65 billion.