Popsicle will Repay To Victims of $25M Attack

Popsicle will Repay To Victims of $25M Attack
Popsicle will Repay To Victims of $25M Attack 2

DeFi PlatformPopsicle has reportedly announced that they would refund $25 million to victims of the attack that took place previously in August.

While calculating the funds that will be paid back to the users the Popsicle team has already done calculating the number of  ICE tokens at a value of $29 will be required in total to reimburse all the affected users.

Tokens are issued as nICE to save gas fees. To cash out tokens, users must change the nICE in the Ethereum blockchain to ICE. Alternatively, customers can also choose to unstake nICE tokens or keep the nICE tokens and thus continue generating revenue from the funds.

To get the payments via the Fantom wallet the users are required to add the nICE contract address to their FTM wallet the same way they did previously, and thus they will be good to go and get the share of the repayment.

Even more, any user that continues to hold all of the distributed nICE tokens despite the recent hack will get an extra 20% bonus on the base reimbursement amount.

Popsicle received the reimbursed funding from its team’s own token allocation, particularly from founder Daniele Sesta.

The actual attack, in addition to draining the platform’s funds, also dropped Popsicle’s ICE token value from $2.35 to $1.38 in 48 hours. However, the ICE price is now going better than it was in August, with a current market value of $25.89.

Although this price increase is probably not due to the project’s own efforts, but rather due to the overall stronger crypto market.

Popsicle Finance is a type of yield optimization platform that reportedly allows users to automatically find the most profitable DeFi services.
Furthermore, details can be found on the project’s official blog.

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