SafeMoon community frustrated over meaningless updates after $9M contract exploit

The SafeMoon community has slammed a pointless update about the recent $9 million exploit.

On March 28th, a contract vulnerability was exploited in the SafeMoon protocol. A vulnerability known as the “Public Burnbug” allowed knowledgeable people to drain liquidity from the platform.

company CEO John Caroney The next day, he issued a statement that his team had patched the exploit. He urged users to be patient and ensured their funds were safe.

Unimpressed SafeMoon community

Since Karony’s statement, SafeMoon has issued six statements (29 March, 30 March, 31 March, 3 April, 4 April, 11 April), most of which It follows a similar structure and format.

of latest statement As detailed in last week’s update, it continued to ask for patience while pointing out that there had been “great progress”. .

While we continue to work to collect LP funds, we understand that this is a difficult situation and that people may be frustrated. ”

The company disabled Twitter replies on March 28, when the liquidity exploit occurred. However, the SafeMoon community has taken to Reddit to complain.

and Reddit post Regarding this matter, one of the Redditors wondered if SafeMoon would be able to recover the lost funds.

“If you don’t recover [sic] Now money, which means they never will. Transfers cannot be undone. ”

Many other users blamed repeated updates that seemingly did nothing. was.

“What he’s talking about is a detailed update from last week. It’s literally the same blah blah message.”

long-running controversy

In September 2021, after a series of missed product release deadlines, then-CTO Hank Wyatt stepped down, putting the future of the project in jeopardy.

By April 2022, several scandals had erupted, including allegations of paid influencers pumping and dumping tokens and senior team members stealing funds.

Since the exploit, the value of SFM has dropped 24%.token is down 95% From the all-time high of $0.00338272 achieved on January 5, 2022.

The post-SafeMoon community was frustrated by the pointless updates after the $9 million contract exploit first appeared on CryptoSlate.

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