Topic: Project's Price after got exploited - page 3. (Read 293 times)
It is a very hard thing to predict because it depends on how the team manages the situation like this, and I don't think the project has any strong treasury to kick-start the whole project fresh, investors trust is gone and people will be very skeptical of touching the token, projects like Ethereum, and Compound have come out stronger from the situation like this but it would take a long time to regain that previous price if at all it is going to bounce back from this mess they team found themselves
Can't lie, I knew something was up when I saw news from Huobi exchange that they are delisting poolz, I was like WTF happened? I knew something bad must have happened, this is one of the reasons why Altcoins are not very safe, only those that don't put all their eggs in Poolz bags will feel at ease right now, it's very hard to predict what will happen that's why it's not a good idea to invest heavily on an altcoin project.
Losses from hacking are small, it is likely that the project team will solve the problem.
[.....]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.
Learn from the exploited projects from the past. There are many projects that attempted but the price never really recovered. Trust on the security of these platforms is vital on the valuation of these tokens so investors are likely to leave once that's gone.It's a must for you to read the report on the hack if you're still going to support this. What part was exploited and was the team made aware of this vulnerability prior to the hack? Third party audits usually informs project owners but they get ignored too.
It's hard to predict what the price will be, but from what I understand, the amount stolen in the exploit isn't huge - somewhere between 200k-400k USD. The team has said that the project's treasury should be able to cover that amount without issue. Given that, I believe we could see some price recovery once the situation is resolved and the new token contract is deployed.
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.
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
Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120
Jump to: