Protocol’s Second Success Case: gotEM’s Tokens Returned to the Owner

Remember the case when our Vault Protection was able to save gotEM’s tokens after they were stolen? BeInCrypto covered the news and we explained in detail what happened in our own article.

In short, On January 11th the developer account’s private key got compromised. This account was the owner of quite a few LP Mining and Staking contracts. Multiple projects were exploited but only gotEM had Lossless security measures implemented.

gotEM’s project owner with the help of the Lossless team enabled Vault Protection for the exploiter’s address. With it enabled exploiter was no longer able to dump the tokens he stole — 8,320,881 tokens to be exact. The only thing he could’ve done was to send these tokens back to the gotEM project owner.

Until today. With the help of Core Protocol, we were able to initiate a hack report, confirm it and retrieve the stolen funds back to gotEM. Tokens have been successfully extracted from the exploiter’s wallet and returned to the owner.

This is the second successful case since the protocol’s launch. The first proof of concept was us returning misplaced 123,000 $AAG tokens back to our partners AAG Ventures.

The first successful cases of many. Follow our journey, and try out our tools.

About Lossless

Lossless is the world’s first DeFi hack mitigation tool for token creators. Apart from Lossless’ known cyber security solutions and renowned professionals, the community also plays a role. With a tangible reward system, community members are also encouraged to explore new ways to detect hacks and fraudulent transactions.

Lossless protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner. Its solutions to the impending problems of cyber theft within the blockchain space are thorough and applicable within many protocols.

Twitter | Platform | Telegram | Discord | Website | Documentation | Github

--

--

--

World’s first crypto hack mitigation tool for trusted and safe DeFi.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Fear Materialized: Border Agents Demand Social Media Data from Americans

Triforce Protocol Is Now KYC Approved by Assure

{UPDATE} Swoopy Boi Hack Free Resources Generator

Which is best: VPN vs Tor (The onion browser)

Hashgard Community Node Operator List is Officially Released!!

JustSwap Official launch will be available at 22:00(SGT) on August 18th, 2020

Token swap event: Bonus tokens have been given away!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Lossless

Lossless

World’s first crypto hack mitigation tool for trusted and safe DeFi.

More from Medium

Lossless Development Update: May

Community Call: May 23rd, 2022

Launchpool AMA Recap — Circularr

Unlimited Network - Simplifying CeFi products, for DeFi users.