🔥Aevo (formerly Ribbon Finance) confirmed that the historical Ribbon DOV vault was attacked yesterday due to a vulnerability in a smart contract update, resulting in a loss of approximately $2.70 million.

The official statement said that all Ribbon vaults have been immediately stopped and will be officially taken offline. Users need to withdraw funds by themselves through the standard process after completing the contract upgrade. The relevant contract upgrade is expected to be launched next week and will be announced separately.

Aevo disclosed that the attack caused an actual loss of about 32% of the vault, but the DAO proposed that user withdrawals be executed at a discount of only 19%. The claim window is from December 12 to June 12. After the expiration, the remaining assets will be liquidated and a second distribution will be made to users who have withdrawn funds, up to the remaining losses.$AEVO