SafeMoon community frustrated over meaningless updates after $9M contract exploit

The SafeMoon assemblage has slammed a meaningless update connected the caller $9 cardinal exploit.

On March 28, the SafeMoon protocol suffered a declaration vulnerability exploit. The vulnerability, known arsenic the “public pain bug,” enabled radical with capable cognition to drain liquidity from the platform.

Company CEO John Karony issued a connection the pursuing day, saying his squad had patched the exploit. He called connected users to enactment diligent and assured them their funds were safe.

SafeMoon assemblage unimpressed

Since Karony’s statement, SafeMoon has issued six statements — connected March 29, March 30, March 31, April 3, April 4, and April 11 — astir of which followed a akin operation and format.

The latest statement continued calling for patience portion pointing retired that “great progress” had been made — arsenic elaborate successful an update past week. It ended by teasing “exciting caller products” successful the pipeline.

“As we proceed moving connected the betterment of the LP funds, we admit that this is simply a challenging concern and that radical mightiness consciousness frustrated.”

The institution disabled Twitter replies connected March 28 — the time of the liquidity exploit. However, the SafeMoon assemblage has been venting their vexation connected Reddit.

In a Reddit post connected the matter, 1 Redditor doubted whether SafeMoon could retrieve the mislaid funds.

“If they haven’t retrieve [sic] the wealth by now, it means they ne'er will. They can’t reverse the transfer.”

A multitude of different users slammed the repetitive updates that seemingly led nowhere. The vexation was evident from 1 idiosyncratic who questioned the team’s efforts to reconstruct normality.

“What elaborate update from past week is helium talking about. This is virtually the aforesaid blah blah blah message.”

Long-running controversies

In September 2021, pursuing a bid of missed merchandise merchandise deadlines, the past CTO, Hank Wyatt, resigned — throwing the project’s aboriginal successful jeopardy.

By April 2022, respective scandals emerged, including paid influencers pumping and dumping the token and allegations of elder squad members stealing funds — with on-chain sleuthing suggesting Thomas “Papa” Smith had pocketed $143 million.

SFM fell 24% successful worth since the exploit. The token is down 95% from its all-time precocious of $0.00338272,  achieved connected Jan 5, 2022.

The station SafeMoon assemblage frustrated implicit meaningless updates aft $9M declaration exploit appeared archetypal connected CryptoSlate.