This morning #EULER DeFi protocol was exploited & a small portion of #SwissBorg’s Smart Yield Program was impacted. Fortunately, we have been preparing for years for these scenarios and our users will not suffer any loss from this event. 😇 🧵:
1/ The DeFi Protocol @eulerfinance has been exploited, unfortunately, the #SwissBorg Earn strategies for USDT & ETH have been partially affected by the exploit. Fortunately, the extent of the damage is minimal thanks to our Risk Management Procedure. 💪🏽
2/ The ETH Earn strategy has suffered from a loss of approximately 1617.23 ETH (or only 2.27% of the total assets subscribed to the program).
3/ The USDT Earn strategy has suffered 1,694,422.42 USDT (or 29.52% of the total assets subscribed to the program).
4/ All the losses that occurred during that event will be covered by SwissBorg. 💪🏽
5/ We are working closely with the #eulerfinance Team and we hope that we can recover some funds.
6/ Both USDT & ETH Earn strategies will continue to operate as usual, along with our other Earn Programs.
7/ Join us tonight (6:00 pm CET) on the #SwissBorg YouTube channel for a live discussion with our founders to discuss the events that took place this morning and what are the next steps. Stay tuned for more updates! #DeFi #EulerProtocol #SmartYieldProgram #CryptoNews #CryptoFam
• • •
Missing some Tweet in this thread? You can try to
force a refresh
