{"id":25017,"date":"2025-06-30T10:26:21","date_gmt":"2025-06-30T07:26:21","guid":{"rendered":"https:\/\/forklog.com\/en\/resupply-protocol-to-burn-6-million-reusd-following-hack\/"},"modified":"2025-06-30T10:26:21","modified_gmt":"2025-06-30T07:26:21","slug":"resupply-protocol-to-burn-6-million-reusd-following-hack","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/resupply-protocol-to-burn-6-million-reusd-following-hack\/","title":{"rendered":"Resupply Protocol to Burn 6 Million reUSD Following Hack"},"content":{"rendered":"<p>The stablecoin protocol Resupply has <a href=\"https:\/\/gov.resupply.fi\/t\/resupply-recovery-plan\/47\">unveiled<\/a> a recovery plan following a <a href=\"https:\/\/forklog.com\/en\/news\/resupply-protocol-hacked-for-9-5-million\">hack<\/a>. The team has proposed burning 6 million reUSD from the insurance pool to cover the majority of the losses.<\/p>\n<p>According to a <a href=\"https:\/\/mirror.xyz\/0x521CB9b35514E9c8a8a929C890bf1489F63B2C84\/ygJ1kh6satW9l_NDBM47V87CfaQbn2q0tWy_rtp76OI\">report<\/a>, on June 26, an attacker managed to manipulate the price of the crvUSD-wstUSR pair. Exploiting a vulnerability in the oracle and exchange rate calculations, the hacker was able to withdraw assets from the protocol.<\/p>\n<p>Immediately after the attack, the Resupply team suspended the affected pair and blocked withdrawals from the insurance fund.<\/p>\n<p>The loss amounted to $10 million. The protocol&#8217;s treasury has already covered 2.86 million reUSD, leaving an outstanding debt of 7.13 million reUSD.<\/p>\n<p>To address this, the team proposed burning 6 million reUSD from the insurance pool, which represents approximately 15.5% of the total tokens in it.<\/p>\n<p>The remaining debt of 1.13 million reUSD is planned to be repaid over time through DAO revenues, such as protocol fees or RSUP token sales.<\/p>\n<p>The plan also includes a retention program for users whose funds in the insurance fund are affected. They will be offered additional RSUP as an incentive, with the option to withdraw assets at any time.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis is not intended to compensate for losses, although it may fully or partially cover them,\u201d Resupply noted.<\/em><\/p>\n<\/blockquote>\n<p>If the community approves the proposal, it will be implemented three days after the voting concludes.<\/p>\n<p>Earlier in June, hackers <a href=\"https:\/\/forklog.com\/en\/news\/hackers-breach-iranian-exchange-nobitex-for-81-7-million\">breached<\/a> the Iranian exchange Nobitex for $100 million and <a href=\"https:\/\/forklog.com\/en\/news\/hackers-expose-source-code-of-iranian-exchange-nobitex\">exposed<\/a> the platform&#8217;s source code.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The stablecoin protocol Resupply has unveiled a recovery plan following a hack. The team has proposed burning 6 million reUSD from the insurance pool to cover the majority of the losses. According to a report, on June 26, an attacker managed to manipulate the price of the crvUSD-wstUSR pair. Exploiting a vulnerability in the oracle [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1258],"class_list":["post-25017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-tokenomics"],"aioseo_notices":[],"amp_enabled":true,"views":"89","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25017"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25016"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}