Socket: Will provide 100% compensation to affected users of the Bungee hack

ChainCatcher news, the cross-chain interoperability protocol Socket has announced a customer compensation plan in response to the hacking incident, offering 100% compensation to all affected users.

It is reported that Bungee, the bridging aggregator developed by Socket, was hacked last week, resulting in a loss of approximately $3.3 million. After statistics, Socket stated that the incident affected a total of 232 users and involved 5 types of assets. Earlier this week, Socket has recovered 1,032 ETH, worth about $2.2 million, and to fully compensate user losses, Socket will also contribute an additional $1.1 million for compensation.