POPA ReconDeFi United unveils plan to restore rsETH after $292M hack
DeFi United unveils plan to restore rsETH after $292M hack Led by Aave, dozens of DeFi protocols contributed funds to the DeFi United initiative to mitigate the wider industry impact, raising over $300M in ETH. The restoration process involves converting ETH into rsETH in tranches, which will then be transferred to the affected lockbox contract, allowing the bridge to securely resume operation. A key concern is that deployment of the restoration plan is contingent on finalizing agreements and obtaining governance approvals, during which the attacker could attempt to interfere. 👉 defiunited…
The excerpt is quoted from a public Telegram channel, which owns its text.