Staking Protocol Compound Users Mistakenly Receive $90M

Last week, Compound Labs users have been surprised to see that they have received money from the company. They later found out that DeFi staking protocol Compound has accidentally given out around $90 million worth of COMP tokens because of a bug in a recent software update.

Following the incident, the company’s founder started asking users to give back the money they received threatening those who chose not to do so with IRS.

What Is Compound?

According to their website, Compound is an open-source software development company building tools, products, and services for the decentralized finance (DeFi) ecosystem. The software they build eliminates human intermediaries, relying instead on algorithms to perform transactions.

As the technology is relatively new, mistakes like giving away $90 million can be made.

Will People Give the Money Back?

Compound’s “Comptroller” contract’s transaction history shows where all the $90M worth of COMP tokens went. The founder of Compound, Robert Leshner made an appeal for the return of the tokens asking the users to give them back to the platform’s Timelock contract.

In order to motivate them, Leshner stated that as a reward for their correctness, users could keep 10% of the tokens.

He even started to threaten those who don’t have any

Read More: https://heimdalsecurity.com/blog/staking-protocol-compound-users-mistakenly-receive-90m/