CryptoCart — Exploit & Recovery
Dear CryptoCart community,
What a rollercoaster we have had over the last 12 hours. Our deployer address was exploited in the early hours of this morning. The good news is that the bad actor has now returned all funds stolen from our community, but has yet to make contact with the team.
We would encourage them to reach out anonymously. A post mortem is still going to be undertaken to work out what happened and how so that it can be prevented in future.
We will be using this as an opportunity to learn from our mistakes, improve security across the board, improve the contract, and redeploy with 100% of liquidity. Below is an outlined plan for the next steps.
1. We will be redeploying the CC V2 token on the Ethereum chain. This will be a more secure token with significant contract improvements. A 4% tax will also be split in equal halves between the CryptoCart Vault and into providing to the LP.
2. The contract will be deployed from a multi-sig wallet. This essentially means that any transaction made by the deployer needs multiple approvals from separate individuals to make the transaction, removing the possibility of any single person taking control of a transaction and further decentralizing controls.
3. We will be adding all liquidity returned back, which is 309.25 Ethereum ($1,341,446). This liquidity will be locked not for six months, a year, or even five years. It will be locked forever, and we will be renouncing ownership of the smart contract. With all of these precautions we are going to take to improve security, it will be impossible to remove liquidity, rug the project, or allow any potential exploits going forward.
4. All holders that were either holding their CC tokens or had their tokens in staking will be airdropped the exact same amount of tokens as they had prior to the exploit with their earned rewards intact. We are going to try our best to work out pending rewards for the stakers, and add that to their airdrop amount.
5. The price of the $CC token on the relaunch will be identical to the price before the exploit, which is $15. If you had one token before the exploit worth $15, you will have 1 token on the new contract worth $15.
6. All team tokens will be stored on a hardware wallet not associated with any other CryptoCart wallets.
Once everyone received their token reimbursement and the new contract is up and running with all security measures in place, then we start mission adoption. We have worked far too hard and for far too long not to deliver on absolutely everything that was promised. We would like to thank our community for remaining strong and faithful throughout.
Here is where it gets exciting. We are days away from being completely automated. Post-automation, we are rolling out our USA CryptoCart Marketplace and pitching our initial designs for Store three to the community.
The events of today have only strengthened CryptoCart, and CryptoCart V2 will be stronger, better, safer, and more secure than ever as a result of the lessons learned. Thank you again and we look forward to providing updates shortly.
The CryptoCart Team