Trader’s losses exceed $1 million adhering to 0L Network tough fork

A cryptocurrency fanatic confronted a demanding circumstance getting rid of a significant volume of electronic assets owing to a tough fork in the 0L community.

A person, known as NN, shared their unfortunate encounter on social media platform X, expressing disappointment with the community’s reaction to the 0L network’s determination to endure a hard fork.

1/ How deeply I bought rugged by @0LNetwork – 7 figures $ really worth.

TLDR: The workforce behind @0LNetwork ( $LIBRA ) decided to difficult fork because of a “rogue core” member. This fork resulted in a wipe out of 4% of the total supply, also burning innocent people’s wallets, which include tokens… pic.twitter.com/UdtUBJHO83

— NN 🌸🐧 (@nn_blossoms) May perhaps 8, 2024

The 0L Community was proven with the intention of gratifying builders and other members of the community who actively contribute to the project’s development.

“The group at the rear of @0LNetwork ( $LIBRA ) resolved to tough fork simply because of a “rogue core” member. This fork resulted in a wipe out of 4% of the complete supply, also burning harmless people’s wallets, including tokens obtained pretty much 2 many years back.”
NN, cryptocurrency fanatic

NN had obtained 147 million Libra tokens in February 2023, valued at all over $1.47 million again then, and later joined the protocol to guide with advertising and marketing endeavors.

The trader alleged that the staff experienced been informed of the bug for much more than two many years, with some insiders exploiting it. Inspite of this awareness, the group selected to ignore the difficulty owing to the perceived small benefit of the Libra token.

The difficult fork was induced by a flaw in the sensible contract that permitted insiders to unlock tokens at an accelerated fee by distributing them across numerous wallets. A trader underneath a pseudonym described that the loophole persists in the latest model of 0L Community, v7.

Alternatively of rectifying the loophole, the team opted to fork out all wallets suspected of exploiting it. NN claimed that the group comprehended innocent wallets would be impacted, as not all tokens could be traced properly.

Even soon after buying tokens from 6 distinctive validators, NN’s wallet experienced significant losses due to one validator labeled as fraudulent by the workforce.

“I acquired tokens from 6 unique validators, yet my total wallet, made up of all my tokens, is becoming forked out since one of the validators was viewed as rogue.”

NN, cryptocurrency fanatic