🚀 Radiant DAO Proposes Compensation for Unlimited Authorization Vulnerability Losses
#RadiantDAO #Compensation #UnlimitedAuthorization #Vulnerability #SmartContract #Arbitrum #BNBChain #UserLosses #ClaimsContract #Stablecoin #CompensationProcess #RFP47 #StolenFunds #FinancialSecurity #BlockchainSecurity #CryptoCommunity #RDNT #ARB
According to PANews, the Radiant DAO community has proposed a plan to compensate victims of the 'unlimited authorization vulnerability' through a smart contract. This initiative aims to address losses incurred by users due to a vulnerability discovered on October 16, 2024, affecting Arbitrum and BNB Chain, with damages amounting to $7.7 million in 2024 and $1.2 million in the first quarter of 2025.
The core of the proposal involves deploying a claims contract on Arbitrum to allocate funds proportionally based on user losses. All stolen tokens will be consolidated into a single stablecoin at market value, with balances below $1 being nullified. The compensation process will be phased and is expected to take several years, during which users can track progress through a dedicated portal.
Priority will be given to users affected by the RFP-47 proposal, with any remaining funds allocated to victims of the current proposal. In the event that stolen funds are recovered, they will be distributed proportionally among all affected users. However, the execution of the compensation plan is contingent upon partner contributions, and failure to secure these funds may impede the process.#RadiantDAO #Compensation #UnlimitedAuthorization #Vulnerability #SmartContract #Arbitrum #BNBChain #UserLosses #ClaimsContract #Stablecoin #CompensationProcess #RFP47 #StolenFunds #FinancialSecurity #BlockchainSecurity #CryptoCommunity #RDNT #ARB
🚀 Trust Wallet Relaunches Chrome Extension and Updates to Version 2.71.0
#TrustWallet #ChromeExtension #Version2.71.0 #CompensationProcess #SecurityIncident #MaliciousCode #Bitcoin #ETH #SOL #CustomerServiceVerification #BTC
According to Odaily, Trust Wallet announced on the X platform that its browser extension is now available again on the Chrome Web Store. Additionally, version 2.71.0 has been released, featuring customer service verification code support to assist with the claims process.
Previously, Trust Wallet initiated a compensation process for victims of a security incident involving its Chrome browser extension. This incident was caused by malicious code embedded in version 2.68 of the software, resulting in the theft of approximately $7 million in assets, including Bitcoin, ETH, and SOL.#TrustWallet #ChromeExtension #Version2.71.0 #CompensationProcess #SecurityIncident #MaliciousCode #Bitcoin #ETH #SOL #CustomerServiceVerification #BTC