tldr; A Resupply developer, known as C2tP, donated $1.4 million of personal funds to help cover losses after the stablecoin lending protocol suffered a $9.3 million exploit. The attack exploited a bug in Resupply’s code, leading to significant user withdrawals and a drop in deposits from $78 million to $58 million. While the donation has been praised, some users criticized the protocol’s decision to use its insurance pool to cover losses. Resupply plans to release a post-mortem after completing its analysis of the exploit.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; A Resupply developer, known as C2tP, donated $1.4 million of personal funds to help cover losses after the stablecoin lending protocol suffered a $9.3 million exploit. The attack exploited a bug in Resupply’s code, leading to significant user withdrawals and a drop in deposits from $78 million to $58 million. While the donation has been praised, some users criticized the protocol’s decision to use its insurance pool to cover losses. Resupply plans to release a post-mortem after completing its analysis of the exploit.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.