The Polygon Ecological Project 0VIX Protocol Issues Ultimatum to Attackers: Return Funds or Face Legal Consequences

On April 29, it was reported that the Polygon Ecological Project 0VIX Protocol tweeted that at present, it has issued a ultimatum to the attackers on the chain, asking them to return the funds or bear the legal consequences of their actions. The exploit of this attack is the result of the price manipulation of vGHST, which is listed as a non mortgaged asset on 0VIX. As an emergency procedure, the transfer, mining, and liquidation of oToken have been suspended in the 0VIX Polygon POS and zkEVM markets. 0VIX is currently researching solutions, and more information on the situation and its impact will be released soon.

0VIX: An ultimatum has been issued to the attacker on the chain to request him to return the funds

Introduction

On April 29th, the Polygon Ecological Project 0VIX Protocol made a public statement via their official Twitter account regarding an attack on their platform. The attackers exploited the price manipulation of the non-mortgaged asset vGHST, resulting in the suspension of transfer, mining, and liquidation of oToken in the 0VIX Polygon POS and zkEVM markets. As a result, the 0VIX Protocol has issued an ultimatum to the attackers to return the funds or face legal consequences.

Background

The 0VIX Protocol is a platform built on the Polygon blockchain, providing users with yield-farming opportunities. Users can deposit collateral into the platform to earn rewards in the form of oTokens, which can be traded or sold in the market. The vGHST token, listed as a non-mortgaged asset, is a popular choice amongst users due to its high liquidity and low volatility.

The Attack and Its Impact

The exploit of this attack is the result of the manipulation of the vGHST token price by the attackers. This manipulation led to the draining of funds from the 0VIX Protocol, resulting in the suspension of transfer, mining, and liquidation of oToken on the 0VIX Polygon POS and zkEVM markets. This suspension has caused serious concerns for users of the 0VIX Protocol, leading to the issuance of an ultimatum to the attackers to return the funds or bear the legal consequences.

The Ultimatum

The 0VIX Protocol has stated that they will take legal action against the attackers if they do not return the funds. This action would include working with law enforcement agencies to track down the attackers and hold them accountable for their actions. The ultimatum has been issued in an effort to recover the lost funds and restore confidence in the platform.

0VIX Protocol’s Reaction

0VIX Protocol is currently researching solutions to ensure that such an attack does not occur again and is working to restore the services that were suspended during the attack. The platform has pledged to keep users informed of developments and provide more information on the situation and its impact in due course.

Conclusion

The attack on the 0VIX Protocol has caused significant concerns and disruption to the platform. The issuance of an ultimatum to the attackers is an effort to recover the lost funds and safeguard user confidence in the platform. 0VIX Protocol is taking steps to rectify the situation and ensure that similar attacks do not happen in the future.

FAQs

1. What is the 0VIX Protocol?
The 0VIX Protocol is a platform built on the Polygon blockchain that provides users with yield-farming opportunities.
2. What led to the attack on the 0VIX Protocol?
The attack was a result of price manipulation of the non-mortgaged asset vGHST.
3. What is the 0VIX Protocol doing to rectify the situation?
The 0VIX Protocol is researching solutions to ensure that such an attack does not occur again and is working to restore the services that were suspended during the attack.
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