Thread by @ZilSwap

1/ Your funds are SAFU 💪 A bug in the core ZilSwap contract was found by a community dev. At the time of this announcement, we've successfully performed a white hat operation to temporarily remove liquidity from ZilSwap into a hardware wallet, after determining it was the best

2/ (ctnd)
course of action to secure our community’s funds. Swap and Liquidity-related functionalities have been temporarily disabled on the ZilSwap UI, while we continue to work closely with the Zilliqa Team and the reporter to restore services as soon as possible 🙌

3/
Here are the steps and safe measures we will be taking over the following days 👇
1⃣ Review final state saved prior to the rescue to ensure no txs were missed
2⃣ Implement bug fixes and deploy new contract (~ 1–3 days)

4/
3⃣ Migrate saved final state from old contract to new contract
4⃣ Verify if migrated state on new contract matches the old contract
5⃣ Send rescued funds to new contract
6⃣ Activate new contract

5/
7⃣ ZilSwap UI will be re-enabled with the new contract. At this time:
• Swapping and liquidity-related features will resume
• Data on Pools page may be inaccurate
• Upcoming reward distributions (both ZWAP and projects onboarded onto the distributor) will remain disabled

6/
8⃣ Update reward and stats api to use new contract so that the Pools Overview page reflects accurate data (~ 1–3 days)
9⃣ Re-enable reward distribution function (~ 2–7 days)

7/ A more thorough post-mortem will be shared once the dev team has rested, conducted a thorough review, and performed initial restoration efforts. Thank you #ZILFam for your patience and continuous support 🔥🙌