Hooked Protocol: Deploying new uHGT contract and migrating tokens

ChainCatcher news, the Web3 social network Hooked Protocol has released a clarification on the uHGT security incident and a token migration solution. It stated that all user assets in BUSD and HOOK tokens are secure and unaffected, and all operating systems and infrastructure related to the HOOK token are completely unaffected, with in-app experiences and uHGT earnings remaining valid.

Additionally, the team will deploy a new token contract (uHGTv2) to replace the original uHGT token contract. The new token uHGTv2 balance will be mapped 1:1 to the original uHGT balance based on an on-chain snapshot taken before the security incident. During the transition, users can still exchange uHGT for BUSD within the app.

During the redeployment process, on-chain transactions may be briefly paused for a few days and will resume immediately after completion. During the migration, a fixed exchange rate is set at 0.000002 BUSD per uHGT token. (Source link)