{"id":11446,"date":"2023-04-12T11:06:00","date_gmt":"2023-04-12T11:06:00","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=11446"},"modified":"2023-04-12T11:06:01","modified_gmt":"2023-04-12T11:06:01","slug":"safemoon-community-frustrated-over-meaningless-updates-after-9m-contract-exploit","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11446","title":{"rendered":"SafeMoon community frustrated over meaningless updates after $9M contract exploit"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>The SafeMoon community has slammed a meaningless update on the recent $9 million exploit.<\/p>\n<p>On March 28, the SafeMoon protocol suffered a contract vulnerability exploit. The vulnerability, known as the &#8220;public burn bug,&#8221; enabled people with sufficient knowledge to drain liquidity from the platform.<\/p>\n<p>Company CEO John Karony issued a statement the following day, saying his team had patched the exploit. He called on users to stay patient and assured them their funds were safe.<\/p>\n<h2>SafeMoon community unimpressed<\/h2>\n<p>Since Karony&#8217;s statement, SafeMoon has issued six statements \u2014 on March 29, March 30, March 31, April 3, April 4, and April 11 \u2014 most of which followed a similar structure and format.<\/p>\n<p>The latest statement continued calling for patience while pointing out that &#8220;great progress&#8221; had been made \u2014 as detailed in an update last week. It ended by teasing &#8220;exciting new products&#8221; in the pipeline.<\/p>\n<p>&#8220;As we continue working on the recovery of the LP funds, we appreciate that this is a challenging situation and that people might feel frustrated.&#8221;<\/p>\n<p>The company disabled Twitter replies on March 28 \u2014 the day of the liquidity exploit. However, the SafeMoon community has been venting their frustration on Reddit.<\/p>\n<p>In a Reddit post on the matter, one Redditor doubted whether SafeMoon could recover the lost funds.<\/p>\n<p>&#8220;If they haven&#8217;t recover <em>[sic]<\/em> the money by now, it means they never will. They can&#8217;t reverse the transfer.&#8221;<\/p>\n<p>A multitude of other users slammed the repetitive updates that seemingly led nowhere. The frustration was apparent from one user who questioned the team&#8217;s efforts to restore normality.<\/p>\n<p>&#8220;What detailed update from last week is he talking about. This is literally the same blah blah blah message.&#8221;<\/p>\n<h2>Long-running controversies<\/h2>\n<p>In September 2021, following a series of missed product release deadlines, the then CTO, Hank Wyatt, resigned \u2014 throwing the project&#8217;s future in jeopardy.<\/p>\n<p>By April 2022, several scandals emerged, including paid influencers pumping and dumping the token and allegations of senior team members stealing funds \u2014 with on-chain sleuthing suggesting Thomas &#8220;Papa&#8221; Smith had pocketed $143 million.<\/p>\n<p>SFM fell 24% in value since the exploit. The token is down 95% from its all-time high of $0.00338272,\u00a0 achieved on Jan 5, 2022.<\/p>\n<p>The post SafeMoon community frustrated over meaningless updates after $9M contract exploit appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/safemoon-community-frustrated-over-meaningless-updates-after-9m-contract-exploit\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SafeMoon community has slammed a meaningless update on the recent $9 million exploit. On March 28, the SafeMoon protocol suffered a contract vulnerability exploit. The vulnerability, known as the &#8220;public burn bug,&#8221; enabled people with sufficient knowledge to drain liquidity from the platform. Company CEO John Karony issued a statement the following day, saying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-11446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11446"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11446\/revisions"}],"predecessor-version":[{"id":11448,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11446\/revisions\/11448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11447"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}