SafeDollar Postmortem Analysis

Summary

SafeDollar was recently the subject of an exploit that resulted in a loss of 9,959 SDS. Below is a post-mortem analysis and our proposed steps to mitigate impact on the community.

The Incident

The attack happened on Jun-20–2021 06:21:04 PM +UTC. The hacker performed the attack from wallet https://polygonscan.com/address/0x8a0a1eb0bae23e4e95608e3aad7fa25b0d907c6c

with the tx https://polygonscan.com/tx/0x76c722c7bd90f6db0ad28692f86336007626e938ba7b1fcae98e9b404e66b210

and withdrew 9,959.26 SDS, then sold for 95,392 USDC after bridging all to Ethereum.

This incident only affects the IDO token sale which is using PolyDEX’s token lock contract. Please read more details at PolyDEX’s post-mortem.

SafeDollar protocol is working normally and functions are not affected by this incident.

Compensation Plan

SafeDollar team will use $100,000 USDC and SDS from Dev fund to provide back 9,959.29 SDS for IDO buyers to claim their SDS.

We will deploy the new contract, and IDO buyers will be able to claim all their remaining SDS at once, without the need of vesting anymore.

We hope this would give a transparent response and well-compensated plan to all IDO buyers. As a young project living in this Wild Wild West of DeFi, we have met our 1st challenge but we will continue to work tirelessly to ensure the project stays on its course.

Thank you for your understanding and support to SafeDollar.