DeFi platform begs users to return $90M

About $90 million has been sent to users of a DeFi platform by mistake. Leading DeFi platform Compound mistakenly sent 280,000 COMP tokens worth about $90 million to its users in what was described as a “one-letter-bug”.

In an upgrade which went south, users of Compound received a huge sum of money and now it begs its users to return the crypto assets received. 

On thursday, Compound Lab founder Robert Leshner tweeted begging the community to return the mistakenly sent COMP tokens to an address provided. 

He said whoever does should keep 10% of the fund as a white-hat. 

If you received a large, incorrect amount of COMP from the Compound protocol error:

Please return it to the Compound Timelock (0x6d903f6003cca6255D85CcA4D3B5E5146dC33925). Keep 10% as a white-hat.

Otherwise, it's being reported as income to the IRS, and most of you are doxxed.

— Robert Leshner (@rleshner) October 1, 2021

After begging, he threatened anyone who doesn’t return the fund will be reported to the IRS, and that most of the users are doxxed. 

Doxxing is an act of publicly revealing previously private personal information of a person or organization. 

Privacy is a crucial part of crypto and for a DeFi platform to expose personal information or be a means through which such an act is done is a slap on the platform and DeFi. 

The founder Robert was however quick to to explain saying bone-headed approach aka, stupid approach, he’s just trying to do anything to get some of the COMP asset back. 

I'm trying to do anything I can to help the community get some of its COMP back, and this was a bone-headed tweet / approach. That's on me.

Luckily, the community is much bigger, and smarter, than just me.

I appreciate your ridicule and support.

— Robert Leshner (@rleshner) October 1, 2021

Community Reaction 

Crypto YouTuber Lark Davis called the Compound Lab founders’ way of trying to get the COMP back a ‘pretty damn bad strategy’. He argued that the threat will make people more likely to keep the COMP and cause less money to come into the Compound platform in future. 

Another twitter user Michael asked if the world revolves around American laws? And what would the IRS do to people living outside the US, drown them or what? 

Replying to Lark Davis, a crypto user said the Compound Founder didn’t threaten to dox anyone, he was only reminding people they have already been doxxed. 

While the community’s reaction was expected considering the industry Compound operates, Robert Leshner did say the community is bigger, and smarter than just him and the tweet was a stupid one. 

Compound token is currently trading at $340 at a gain of 3% over the last 24 hours after experiencing a dip. 

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