Malicious hackers attacked the EasyFi contracts on the Polygon and Ethereum networks on Monday, April 19th, 2021, in a well-planned sophisticated attack. The incident did not affect protocol contracts on the Binance Smart chain, which is a multichain layer 2 protocol that runs on three networks.
EasyFi is collaborating with a variety of experts, collaborators, and teams to gain a deeper understanding of the hack and track down the perpetrator, but this is a time-consuming process, and don’t want to keep users waiting to hear more about their missing funds’ recovery. And if they are currently unable to recover missing money, EasyFi is committed to making our users whole over time. As a result, we have decided to refund depositors unconditionally and promptly.
EasyFi managed to make a mark in the market thanks to the help of the community of over 25000 members from all over the world and the tireless efforts of the EasyFi team. EasyFi has carefully considered a compensation package that will benefit both stakeholders and users, and now sharing it with the group for input.
New Strategic Investors & Backers
It’s important to keep the treasury in good shape while still giving the protocol ample runway in the long run. As a result, they began raising funds throughout the multi-chain expansion and accelerated the round as soon as the incident occurred. Although the exercise is still underway, they have already raised a significant sum to move forward with the plans. This round will aid EasyFi in expanding protocol infrastructure across new networks and launching a brand new product line, as expected.
Apart from expansion, EasyFi would place a greater emphasis on adoption and use. As a result, expect a lot more creativity in this region.
EasyFi is a universal layer 2 lending protocol based on scalability, composability, and adoption for DeFi. It was created as an open network platform that can be used on public networks to allow end-to-end lending and borrowing of digital assets and related financial products.