Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 521. (Read 1192000 times)

It's early stage,but a fatality like this cannot be repeated

Well komodo is still in its early stage but with the help of notary node it had alarmed the exploits and its amazing how they deal with it . It is not their control whether incompetent exchanges don't listen . Parang duterte lang yan pre kabago bago pero astig agad.

Glad that i dont trust jl777 work, most of his projects are shit..

I think it is the wallet that is under maintenance: cant deposit , cant withdraw. But bittrex resumes trading BTC-KMD

I don't understand either: Wallet maintenance - Upgrade for Hard Fork

KMD is still trading on Bittrex at prices slightly higher than before the hack.  I don't really understand this, but I guess it is good news.

I saw this KMD being deeply down all times . What happened with this platform? I really don't know when this issue is fixed?

Thank you dev. For Cryptox, your compliance is questionable. Let us boycott the exchange for negligence and incompetency. No one should ever do exchanges in Cryptox. They are non-compliance to the heed of the developer.

InstantDEX will make these exchange stuff-ups a thing of the past, can't come soon enough.

You made the correct choice, the exchange didn't do the right immediately, they should be responsible for the losses.

We had requested that exchanges prevent deposits and withdraws so the illicit KMD wont be able to be sold very early in the event timeline.

Unfortunately, cryptox.pl did not do this for many hours after our request and even after we were told trades were stopped, it continue via API. We specifically asked about API trading and were assured it was stopped.

Now, it seems another half a million illicit KMD has been sold?! This is after the main chain was resumed. And I can think of only one person who would sell at 250 sats... Which means the illicit KMD deposited is still active inside cryptox's system.

Clearly, we cannot take responsibility for such delays. So, we will be setting up a direct claims process for cryptox customers to use. cryptox doesnt have enough KMD to cover the KMD on the books due to all the illicit deposits that were accepted. This means your KMD balance at cryptox isnt fully backed by real KMD. The actual percentage backing it is unknown.

However, do not worry!

Here is the plan.

1) We pick a reasonable floor price that represents the lowest high volume price that would have been had only real KMD been traded. I am thinking a price like 5000 sats. this is about what the lowest price during the panic selling and well below recent prices.

2) cryptox customers who purchased illicit KMD as evidenced by trading timestamps, would be able to make a claim for the BTC used to pay for the KMD. Now if you already withdrew from cryptox into real KMD, then of course this wont apply as you are already fully covered.

3) We verify the claim with the cryptox data and refund the BTC.

Result: cryptox customers who paid BTC for illicit KMD get back 100% of their BTC and have no loss.

It really is too bad the cryptox deposits were not turned off when we asked as all of this would have been avoided. It will take us a bit of time to get some more detailed procedure for this, but I wanted to outline the basic plan. We need to define the first and last trading timestamp that will count, eg. certainly so that trades after the mainchain resumed are not eligible.

There are some strange trading patterns as evidenced by the trade log above, so we need to reserve the right to refuse compensation for suspicious cases. We can use this thread as an appeals process in case you feel we reject your claim without basis.

We will use common sense in the determination of compensation as this can get quite complicated and would take a long time to create a formalized set of rules that cant be exploited.

Unfortunately the market was not deactivated as requested by the team. PLEASE do not trade KMD on cryptox.pl - there is no guarantee that cryptox.pl will be able to refund you.

Only traders who panic during the attack and dumped their KMD lose money.

Hey, have a look at this:

https://cryptox.pl/api/KMDBTC/transactions.json

It seems that you can still trade through the API. I just tried and bought 300 KMD. Withdrawal pending. I guess that 1. it won't be processed and 2. it's on the old chain anyway.
BUT: Many sells of 999 KMD from just two hours ago! It looks like the cryptox.pl admin failed to notice this. There could be even more BTC "stolen".

EDIT: Of course the Komodo team wouldn't be accountable for that because the admin was informed already.
I think they did a great job in handling this!

Hi Komodo, We need to get those updated wallets without bugs out and polo will add this amazing coin.
Polo traders can't wait to snatch up this coin.

                

They will compensate traders' losses? Glad to hear that, the team rocks, they are very legitimate. So no people will lose money on the attack.

Cryptox really dragged the price of KMD to the pit. Anyway dev and others are working on this including compensation for the traded bogus KMD tokens traded on this exchange.

Spooky...

https://coinmarketcap.com/currencies/komodo/

Be careful if you have swapped BTCD for KMD. Then you have REVS which would be transferred to the exchange too and probably be lost there.