New Contract Launched for Ethereum Platform on the Crypto Volatility Index

On Friday, around 14:00 UTC, our team discovered a critical bug in the new Ethereum platform contract that was launched last Thursday. The nature of the bug would have potentially allowed an exploit and we have taken immediate actions to protect our users by halting the platform and fixing the bug. The USDT platform was not affected by this bug.

It’s important to note that throughout the process, all users’ funds were safe.

We were able to identify and immediately fix this potential exploit through the Security Systems we have put in place when we have first launched the platform, as a counter measurement for these types of events. The system allows us rapid detection of potential attacks on the platform and better safe guarding of our users’ funds, which is our first priority.

We have since fixed the contract, as can be seen here: https://etherscan.io/address/0x145e6df857b241efdcb9b78a1b97a032606d47a7#code.

As our first priority is, and always will be, protecting our users’ funds — we have decided to send back all the ETH that was deposited on the platform, instead of automatically migrating the ETH deposits to the new contract, giving everyone an opportunity to review the new contract before re-depositing. As mentioned, this has no effect on the USDT platform.

ETH is now being sent back to all depositors. All ETH will be routed to the following address, from which it’ll be distributed to all depositors accounts: https://etherscan.io/address/0xa6d696b98b2f4e1b655d1dc422b204718f30fdf8

We will also be sending the appropriate $GOVI rewards to all stakers by tomorrow.

The new ETH platform will be launched tomorrow, allowing users enough time to review the new contract, if they wish. In order to re-deposit, just log-in with your Metamask wallet and deposit ETH, like you previously did.

Special thanks to Certik and @samczsun for their quick response and valuable insights during the process.

For all of our updates and to join the conversation, be sure to check out CVI channels:

Website: https://cvi.finance

Whitepaper: https://cvi.finance/files/cvi-white-paper.pdf

Twitter: https://twitter.com/official_CVI

Telegram (group): https://t.me/cviofficial

Telegram (channel): https://t.me/cvichannel

CVI is a decentralized volatility index for the crypto space — powered by COTI network

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