Moola Market will be restarted with a governance vote, the attacker donates a portion of the unreturned funds

2022/10/19 07:22

Celo ecosysteml lending protocol Moola Market released attack report and restart plan. Moola Market said that it has persuaded the attacker to return 93.1% of the funds. The attacker returned those funds to an admin multisig used by Moola. Afterwards based on Moola Market recommendation the attacker donated a portion of the unreturned funds to ImpactMarket, a Moola Market depositor that provides UBI in financially under-banked communities around the world. At this moment, Moola Market’s focus has shifted to safely restoring functionality to the Moola protocol and ensuring that updated measures are in place to prevent this from happening again. There is a governance vote currently in-flight for proposal ID 9 to reduce LTV and liquidation threshold governing MOO's use as collateral, effectively removing it as a viable collateral asset. Moola Market hopes this proposal passes in 6 days. If this proposal passes, Moola Market will be in a position to unfreeze the protocol.

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