We thought the carnagePopular decentralized finance or DeFi was done. But millions more are now at risk than we originally thought. After a very bad upgrade, $162 million could be yours. according to Robert LeshnerCompound Labs founder,.

Compound’s native token, comp, has a price. down about 4.8%

The Compound chief was initially tweeted Friday thatThe cap on the number of comp tokens that could be mistakenly distributed was set at 280,000. This is roughly $92.6 Million.

But on Sunday morning, Leshner revealed that the pool of cash that had already been emptied once had been replenished – exposing another 202,472.5 comp tokens to exploit, or roughly $66.9 million at its current price.

Some, including a core developer at DeFi platform Yearn, are billing thisInvestors are responsible for the largest-ever fund loss during a smart contract event. don’t seem to careAll that and more.

Mudit, core developer at SushiSwap’s decentralized crypto-exchange SushiSwap, stated that “the crypto market ignored the largest ever fund loss as though it was nothing.” The future of DeFi looks bright, but it’s still in unknown territory and we have a lot more to learn.”

Compound is one example of DeFi protocol. recreate traditional financial systems such as banks and exchanges using blockchains enriched with self-executing smart contracts.

Compound released what was supposed to be a fairly standard update on Wednesday. It became apparent that Compound had made a serious error when users started receiving millions of dollars worth comp tokens.

Comp tokens worth $30 Million, for example. were claimed in one transaction

The saving grace of the entire debacle, however, was the fact that the pool of cash that was open to exploit – something called the Comptroller contract – had a finite amount of tokens. According to Gupta, 0.5 Comp tokens are added approximately every 15 seconds.

“When the drip()Function was called today, and it transmitted the backlog (227,472.5, approximately two months’ worth of COMP) to the protocol for distribution. Leshner wrote in a tweet Sunday morning

Leshner pointed out that the comp at risk was now 490,000. This is approximately $162 Million.

While there may be a couple of solutions to this bug, Compound’s governance system is so complex that any proposed changes require multiday voting. Gupta also stated that the final proposal will take at least another week.

This pool of money is still available for those who are able to exploit it.

Compound stated that neither borrowed nor supplied funds are at risk. This is a consolation.

Gupta stated that “no user funds are, or were, at risk” so the deal is not too big. “Everyone got kinda diluted, but didn’t actually lose anything.”

Some white hats are also found in the area.

Some people did return crypto tokens after Compound founder Leshner begged them to. Leshner reported that around 117,000 Comp tokens had been returned, which is $38.7million, as of Sunday morning.

Mati Greenspan is a portfolio manager at Quantum Economics and founder. However, it’s not important how the bug will play out. “The bigger issue is — can it happen again?” He said.

Compound is the world’s fifth-largest DeFi protocol with a total value locked of $10.3 billion, according to DeFi Llama, which provides ranking and metrics for DeFi protocols.

Greenspan stated that the protocol could easily absorb the loss, and most of it would likely be back. However, the bigger issue is if the people have lost confidence in the system’s ability to work properly.

Gupta stated that one problem right away is the Comptroller account giving away Comp tokens which were meant to be used for future rewards.

Gupta said that Comptroller is the core of Compound. Comptroller facilitates core functions like lending and repaying.

The Comptroller supervises the cash pool used for rewards to crypto users that provide it to borrowers at a fixed interest rate. This is usually a one-digit APY.

Gupta said that “Future Rewards might need to be reduced in order to make Comptroller solvent.”