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October 3, 2021 07:34 am

Crypto Platform That Mistakenly Gave $90M to Its Users Asks Them To Please Give It Back

Bleeping Computer has an update on the unique predicament of Compound, "an Ethereum-based money market protocol that enables users to earn interest or borrow assets against collateral." (Which "Due to an erroneous upgrade process, the decentralized finance platform ended up spilling out Ethereum assets worth $90 million to its users...")Compound's founder Robert Leshner urged users who received these Compound tokens in error to return the assets to the platform's Timelock contract. To incentivize users, Leshner stated that for their "white-hat" behaviour they may keep 10% as a reward. "Otherwise, it's being reported as income to the IRS, and most of you are doxxed," threatened the founder in the same tweet... Realizing that the original wording of his tweet may not have sat well with many, Leshner revised his tone: "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," said Leshner. "Luckily, the community is much bigger, and smarter, than just me. I appreciate your ridicule and support...." Because the Compound protocol requires a seven-day governance process before any production changes can be made, Compound's only option at this time is to wait on users, hoping they will return the assets. CoinDesk reported Friday afternoon that "So far, two users have returned a total of 37,493 COMP tokens worth over $12 million at the time of writing." But on Saturday Leshner was tweeting out more thank-you's to additional white-hat users "returning COMP to the community."In an interview with CoinDesk, Leshner said the moral dilemma can be split roughly into two camps. "There's a lot of members of the community that view protocols like Compound as benefitting the entire ecosystem," he said. "And there are some users that don't necessarily care. The builder mindset is, 'This adds value, this is crucially important,' and the trader mindset is 'Money is money,' and that's the only ethos of crypto." He went on: "I'm personally hopeful users will return funds to the community. It's not my property, it's not their property, it's the community's property...." One suggestion from Twitter? "The first 5 people to return COMP get 1/5 pieces of Leshner NFT that can be combined Exodia style to summon Robert in real life.""This idea is crazy, and I'm in," Leshner tweeted, adding later that "Anyone who returns COMP to the community is an alien giga-chad; and if a squad of alien giga-chads ever summon me, I will appear." Leshner told CoinDesk:"I want to hear other people's views on this, because it's not my decision," he said. "This is a decision every user has to make themselves, and I think most of them are taking the view of, 'Haha, f**k you guys, it's your problem.'"

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