Project's Price after got exploited | Bitcointalksearch.org

raidarksword

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Quote from: Huppercase on March 19, 2023, 09:10:35 AM

Quote from: raidarksword on March 15, 2023, 08:59:24 AM

I have this token for two years now but it got me surprised today that it was exploited and got dumped to the ground by the hacker. The Poolz finance team announced that they will already taken action on the situation, halted the CEX trading, remove the remaining liquidity on DEX and flagged the hacker's address on explorer. Importantly they promised to fund the liquidity back of the exact amount that the hacker stole. Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.

Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120

The deed has been done, I have a doubt if this will recoer. I had this token bookmarked on my favourite tokens on wallet that I had in mind when to buy, It been a long time since I check their activity, never knew they have been exploited until I came across your thread, this is really bad for the holders especially those who have been holding it since when the price was $22. This kind of bad predicaments will discourage lots of people from investing in altcoins, because look at it this project, the trust and loyalty has been lost by the team and nobody will buy again.

Yes they fall down hard after the bull market ended, despite that they are still doing great with the IDOs for new start up projects. Though the exploit was made a great scare to all supporters and investors but i am still hopeful that it will come back not instant recovery but gradually will be okay.

Huppercase

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Quote from: raidarksword on March 15, 2023, 08:59:24 AM

I have this token for two years now but it got me surprised today that it was exploited and got dumped to the ground by the hacker. The Poolz finance team announced that they will already taken action on the situation, halted the CEX trading, remove the remaining liquidity on DEX and flagged the hacker's address on explorer. Importantly they promised to fund the liquidity back of the exact amount that the hacker stole. Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.

Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120

The deed has been done, I have a doubt if this will recoer. I had this token bookmarked on my favourite tokens on wallet that I had in mind when to buy, It been a long time since I check their activity, never knew they have been exploited until I came across your thread, this is really bad for the holders especially those who have been holding it since when the price was $22. This kind of bad predicaments will discourage lots of people from investing in altcoins, because look at it this project, the trust and loyalty has been lost by the team and nobody will buy again.

b3j0

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it is very difficult to return to the initial price because investor confidence must have diminished and this incident will surely be traumatic for most investors. even though the same amount of liquidity is added and the price returns to the initial price it is likely to maintain the price it is very difficult because most investors will sell to withdraw their funds from the project.

Jody.Drummer

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Quote from: StarKay on March 18, 2023, 07:42:21 PM

I don't know how they'll recover from this but if the developers are saying the truth about the situation of things then you shouldn't lose hope. It will require the contribution of every holder of that coin for it to recover. I will also hope that the developers will learn from whatever led to the hacking such that it won't happen again.

Still, even though in this case there are several statements, it seems that it is only calming, not to return.
His condition is very difficult to return to the condition that has now deteriorated, even though there are indeed a few words to calm but that doesn't mean everything will return to how it was before. The hope is indeed like that by returning to normal, but of course something like this will not be easy and will even tend to be impossible if there are no supporting resources there.

raidarksword

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Quote from: killerfrost on March 18, 2023, 09:49:29 PM

Well, Poolz, a name familiar to people with the previous DeFi trend. But after the market plummeted last year I saw projects like this being purged by the users themselves.
And with this incident, I don't have too much speculation, but I believe the project will still receive support from the community for further development in the future.
And I also tried the risk when I just bought more POOLZ to see how my luck with this will be.

Indeed Poolz did a great run towards the 2021 which is the time of DeFi trend though they are really down from their ATH but I have still hope that they will come back eventually when another bull market resumes again. They are back now on operation and conducting again an IDO for other projects and this is a great start for recovery for the project.

killerfrost

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Well, Poolz, a name familiar to people with the previous DeFi trend. But after the market plummeted last year I saw projects like this being purged by the users themselves.
And with this incident, I don't have too much speculation, but I believe the project will still receive support from the community for further development in the future.
And I also tried the risk when I just bought more POOLZ to see how my luck with this will be.

StarKay

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I don't know how they'll recover from this but if the developers are saying the truth about the situation of things then you shouldn't lose hope. It will require the contribution of every holder of that coin for it to recover. I will also hope that the developers will learn from whatever led to the hacking such that it won't happen again.

Yatsan

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Most of the new project tokens are falling upon the release in the market sinply because bounty hunters and pre-sale investors often choose to not hold for a long period of time. It is just how altcoin projects work unless it has really of a huge potential. It is a matter of palying safely because holding new released tokens could either generate bigger or smaller profit from doing so.

Quote from: Ziskinberg on March 16, 2023, 06:19:23 PM

I was uncertain about their hack, many devs had come up with that trick after getting money from the investors. I'm not saying it was another scam project but with the tragic fall and no recovery, we can never think it was a good investment either nor we can think it rise high with that previous price ($4). And if you keep holding that coin, the more losses you will ever get. Better throw them away and invest in other projects because it was hopeless as per to say seeing that another straight line below $1. I'm afraid it going to drop more when more investors dump their coins as well before you did it.

I doubt with hack related issues but more of taking profit procedures upon the release of a project to the audiences. Those who are not new in this industry surely knows how the market prices behave which could be risky if to go against toe-to-toe. If you ain't ready for enduring market behavior there ar othere indicators to check out such as overall market survey of its potential.

wiss19

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Two years ago this token's value was around 55 dollars. You haven't sold on that price? Or maybe you are late and only bought right after it dips but anyway I feel sorry for what happened though it's great that the poolz team have responded immediately and doing the best that they can to save the coins value. If this happens to others I think they can't think of these actions and will just accept the fate of their project.

The price goes down because the trading operations have been hold for a while and then the liquidity have been removed but once they re-open it and bring back the liquidity, for sure that the poolz value will return to normal again. Just remain to be calm and patient for a while.

abel1337

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Quote from: raidarksword on March 15, 2023, 08:59:24 AM

I have this token for two years now but it got me surprised today that it was exploited and got dumped to the ground by the hacker. The Poolz finance team announced that they will already taken action on the situation, halted the CEX trading, remove the remaining liquidity on DEX and flagged the hacker's address on explorer. Importantly they promised to fund the liquidity back of the exact amount that the hacker stole. Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.

Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120

Nope, The token won't reach that kind of price again. It is possibly their exit plan on scamming people by showing that they are "hacked" but the real case is they ware planning to keep the money on their own. It is also much easier to create another project than continuing a project that has a tarnished reputation on their security . It's really hard to trust a project "promise" as it is repeatedly use in this space and majority of them is just a part of their exit plan. For now, It's just hard to trust them for keeping up their words since they have removed and a control of that liquidity. Also, If ever they have comeback, There's a chance that there user might have lose their chance with the project and panic sell it when the liquidity is back.

Ziskinberg

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I was uncertain about their hack, many devs had come up with that trick after getting money from the investors. I'm not saying it was another scam project but with the tragic fall and no recovery, we can never think it was a good investment either nor we can think it rise high with that previous price ($4). And if you keep holding that coin, the more losses you will ever get. Better throw them away and invest in other projects because it was hopeless as per to say seeing that another straight line below $1. I'm afraid it going to drop more when more investors dump their coins as well before you did it.

dunfida

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Quote from: Raflesia on March 16, 2023, 05:27:06 PM

Quote from: blockman on March 15, 2023, 05:17:24 PM

Quote from: Raflesia on March 15, 2023, 04:50:27 PM

Quote from: blockman on March 15, 2023, 04:14:32 PM

You can't tell if it will come back to its former price even if the liquidity will be provider by its developer. You know with these projects, they hide on the back of reasoning that they've been hacked and the hacker has dumped all the tokens to make it believe that they've got nothing to do with the project's price dump. It's up to you whether you'll believe those words and have hope for them but, sad to say that in the altcoin market, it's typical to see projects come and go. Value goes up for quite some time and then will be dumped in an instant by whoever's behind the liquidity of that project. I'm not discouraging you but that's one harsh reality of these projects and developers who have been working with projects and you should not expect anything from it anymore.

I think this is obviously going to be a bit difficult. It is rare to see a project that has been drained of funds return to normal as before and this may only happen for projects that are quite large. but for the current conditions, looking at existing projects, I think this is difficult, it tends to be impossible, especially when seeing them being hacked, this shows that they are still very weak, even though there will definitely be some improvements to this, but will we still be one hundred percent confident in its security again.

Yeah, aside from the fact that they've admitted that they were hacked. Most investors of it have followed the dumping scene and that has reduced a lot of liquidity from them and not just that, but also the trust from those investors that have made their decisions to finally leave the project.
It's why I've said that OP should no longer expect anything from this project because it's a clear vision that it's already on that pattern of being dead. But who knows if the devs are truthful to their words and they can do something to drive its market off that dying path.
With what we've used to see from these projects, the devs have got some influence for their liquidity and market but somehow, this might be the point of their lives that they can't do anything with it anymore.

The concern and honesty of the developer must also be supported by the presence of investors and when there is no such thing then this is indeed increasingly difficult because of course making prices return to stability and as before it requires prime design conditions and of course adequate finances to support it.
So now it depends on that. Even though I actually still agree with what you said about don't expect too much from it.

On the time that exploits do happen then expect that majority would really be that having that panic and this is where trust would be broken down into its devs considering that there are some major exploits which it

did really result into crash.We cant blame out investors or to those who do support a project to fled or flock into other place which would really make the price even more getting lower because people would be minding
on cutting loss because of what happened.This is why in the case like this then it is unlikely that it would be able to recover its price wayback as it was before. Trust and confidence could never
be the same specially if we do speak about security exploits.

Raflesia

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Quote from: blockman on March 15, 2023, 05:17:24 PM

Quote from: Raflesia on March 15, 2023, 04:50:27 PM

Quote from: blockman on March 15, 2023, 04:14:32 PM

You can't tell if it will come back to its former price even if the liquidity will be provider by its developer. You know with these projects, they hide on the back of reasoning that they've been hacked and the hacker has dumped all the tokens to make it believe that they've got nothing to do with the project's price dump. It's up to you whether you'll believe those words and have hope for them but, sad to say that in the altcoin market, it's typical to see projects come and go. Value goes up for quite some time and then will be dumped in an instant by whoever's behind the liquidity of that project. I'm not discouraging you but that's one harsh reality of these projects and developers who have been working with projects and you should not expect anything from it anymore.

I think this is obviously going to be a bit difficult. It is rare to see a project that has been drained of funds return to normal as before and this may only happen for projects that are quite large. but for the current conditions, looking at existing projects, I think this is difficult, it tends to be impossible, especially when seeing them being hacked, this shows that they are still very weak, even though there will definitely be some improvements to this, but will we still be one hundred percent confident in its security again.

Yeah, aside from the fact that they've admitted that they were hacked. Most investors of it have followed the dumping scene and that has reduced a lot of liquidity from them and not just that, but also the trust from those investors that have made their decisions to finally leave the project.
It's why I've said that OP should no longer expect anything from this project because it's a clear vision that it's already on that pattern of being dead. But who knows if the devs are truthful to their words and they can do something to drive its market off that dying path.
With what we've used to see from these projects, the devs have got some influence for their liquidity and market but somehow, this might be the point of their lives that they can't do anything with it anymore.

The concern and honesty of the developer must also be supported by the presence of investors and when there is no such thing then this is indeed increasingly difficult because of course making prices return to stability and as before it requires prime design conditions and of course adequate finances to support it.
So now it depends on that. Even though I actually still agree with what you said about don't expect too much from it.

Reid

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The price will recover but not to that extent that you are expecting. It was tainted black and red so that will take out some value of the coin.
Sorry about that. But you may want to wait a little longer because for me that's a good job from their developers if they can act that fast. Some will just give it up and declare bankruptcy to avoid losing their profits. But they are working it out so perhaps it will have a positive effect to their investors.
Good luck though and keep on monitoring it if I were you. It's better to just keep it safe and be ready to pull out if given a chance.

vv181

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Quote from: raidarksword on March 16, 2023, 08:43:35 AM

Quote from: Strongkored on March 16, 2023, 03:49:52 AM

This coin will rise but will never reach the previous high price.
You should consider abandoning this coin by selling it, you should not continue to trust a project that has failed to maintain the security of their coin, or it could be that it is just a rumor that they spread because actually the hackers are the developers themselves to try to attract profits after some time developing this project, and you should not fully trust anyone in the online world.
It's too easy to use the hacking issue because the developers are just looking for someone to blame for their incompetence.

I think selling it could be a bad decision for me hence I was already down on my holdings, so I cannot let it go and take the loss forever. I have still high hopes the price will recover back, not instantly but eventually it will in upcoming bull market seasons. As long as the tokens' price can recovery gradually, I can still manage to HODL it.

And that is with an assumption the project is long-lasting that will give value or utility and the project won't get exploited again. IIRC, there is a project that got exploited recurringly, not once, not twice, but multiple times. I forgot which one, specifically the project is a DeFi, I haven't heard the name again, it might indicate it is dead, or just stagnantly existing.

I don't know much about this project, so if you think it will recover and the project is able to innovate that it will keep existing until the near bull market, then the choice is yours.

Farma

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if something like this has happened, then the team will give their best strength to turn things around. however, as far as what has been seen so far with the same case, it is very difficult to quickly recover the price that was previously achieved. however, it is possible that if the dev actually delivers on this promise, the price might recover little by little. all you can do right now is wait for the official announcement from the dev regarding the progress they have made regarding this case. but don't expect too much about it.

raidarksword

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Quote from: Strongkored on March 16, 2023, 03:49:52 AM

This coin will rise but will never reach the previous high price.
You should consider abandoning this coin by selling it, you should not continue to trust a project that has failed to maintain the security of their coin, or it could be that it is just a rumor that they spread because actually the hackers are the developers themselves to try to attract profits after some time developing this project, and you should not fully trust anyone in the online world.
It's too easy to use the hacking issue because the developers are just looking for someone to blame for their incompetence.

I think selling it could be a bad decision for me hence I was already down on my holdings, so I cannot let it go and take the loss forever. I have still high hopes the price will recover back, not instantly but eventually it will in upcoming bull market seasons. As long as the tokens' price can recovery gradually, I can still manage to HODL it.

yazher

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Quote from: Apocollapse on March 15, 2023, 09:15:01 AM

Nope, if you look at the graph, you will see the price of this token keep dropping and never comeback to the previous price, especially when it's listed on the centralized exchange. So even though the case already solved, the price will not recover until people's trust back like when it's not get hacked. The situation is quite similar with the LUNA hack, the price is still very low and there's no recover until now.

This mostly happens to project that doesn't have enough remedy when they are facing such kinds of tragedy, they are almost impossible to recover because of the tight competition in the market. because of the multiple choices of investment that the investors can have in the crypto industry, they choose not to return back to the project that is in doubt about their credibility. Sometimes they are just making it up in order for their investors not to be suspicious about their true motives and most of the time it's just another act of rug pull but they never told the truth to their investors in order to get away from it.

Pterosaur

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Quote from: Strongkored on March 16, 2023, 03:49:52 AM

This coin will rise but will never reach the previous high price.
You should consider abandoning this coin by selling it, you should not continue to trust a project that has failed to maintain the security of their coin, or it could be that it is just a rumor that they spread because actually the hackers are the developers themselves to try to attract profits after some time developing this project, and you should not fully trust anyone in the online world.
It's too easy to use the hacking issue because the developers are just looking for someone to blame for their incompetence.

How many times have solana messed up it's security now? I've already lost counts, yet till date, this project is still plagued with a million problems, the price dumped a lot and still goes back up, many people thought it was over for the project but nah, it's not the case right now, the same thing have happened to Alliance block and gala, they got up on their feet and make amendments, it is not the end when hacks happen, if the project died after, the team gave up already.

raidarksword

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Quote from: S3300 on March 16, 2023, 02:00:05 AM

This project can still survive, if the team are serious about the project them can just abandon the old token and create a new one and swap with old holders, gala team did the same thing last year when their BSC gala got hacked, it's really no that hard to achieve.

Hopefully it does and I have strong faith about it as well. They have been here for a years now, so they don't just quit like that hence many people put faith on them as well that they will make this obstacles though and will recover after the exploit.

Topic: Project's Price after got exploited (Read 264 times)