Users received Compound cryptocurrency worth $162 million by mistake and refuse to return the funds

By: Maksim Panasovskyi | 06.10.2021, 17:27
Users received Compound cryptocurrency worth $162 million by mistake and refuse to return the funds

Recently it was reported that the Compound platform mistakenly paid out tokens for $90 million. As a result of the failure, it appeared that a total of $162 million was accrued at the current exchange rate, and users have no plans to return the funds.

What we know

How many users received tokens by mistake is not specified yet. It is believed that there are no more than a dozen. One lucky user wrote that he was credited with $20 million worth of COMP.

Token creators are asking users to return the funds. The platform does not have access to the wallet holders' personal data. Compound's creator said it would ask the US Internal Revenue Service for help in tracking down newly minted millionaires if they refuse.

The developers originally wanted to roll back 51% of the blockchain, but because of the possible consequences they abandoned the idea. Compound offers users a refund, keeping 10% as a bonus. However, it now comes to the point that wallet owners will not give anything back, and the platform will have to accept the loss of $162 million.