Defi Protocol, Compound, Woes Continue

Decentralized finance protocol, Compound, has had a tough week as a hack on its reservoir as seen over 200,000 of its native token transferred to its Comptroller account where they could be susceptible to being drained.

This was revealed by Banteng, a developer at Yearn Finance who tweeted that “someone called drip() on Compound’s Reservoir, which sent another $68.8m of COMP to Comptroller.” Since his revelation, over $20 million of the funds have been siphoned and there are indications that the remaining $46 million could still be moved by five separate addresses.

Compound, just last week, saw a bug in its Proposal 062 which was responsible for misallocating $90 million worth of the asset to wrong people. At the time, the founder of the protocol pleaded to those who might have gotten the windfall to return them whilst promising them a 10 percent reward.

As of press time, Compound founder Robert Leshner, revealed that the protocol has seen over 100,000 units of COMP returned by users.

According to CoinMarketCap, the recent bug attacks have seen the value of the asset, COMP drop drastically before attempting a recovery over the weekend, however, with the news of the new bug, the price of the asset has dropped by 10 percent again.

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