The pDai exploit led to almost $20million USD worth of Dai being stolen through a series of sophisticated actions. Since then we have had a post mortem on how the attack was implemented and released Cornichon (Corn) as a way to repay the debt in the future.
The Cornichon has since been listed on Uniswap. The exploiter has embarked on taking advantage of the depressed price of Corn to use the exploited Dai to purchase corn which can potentially be redeemed in the future for the full value.
Through these various actions it is very likely the exploiter leverages our various social media channels and has a high level of development and analysis expertise of smart contracts. This limits the potential perpetrators.
It is necessary to demonstrate that we will not allow ourselves to be willing victims to future attacks and exploits.
We hire a private investigator who specializes in recovery of digital assets. We budget $100k from our treasury for the pursuit with a $300k bounty if successful. Upfront payment would be $50k at most with the rest being paid at specific milestones. This brings the cost to the treasury down substantially.
We immediately purchase $300k post redemption worth of Corn from the uniswap market which can be used to pay the success bounty. This would be about $30k-$50k at the moment.
We also make a clear statement that we will end the pursuit if the current funds and corn is returned to Pickle within 1 week. We would be willing to pay the $300k as a bounty to the exploiter as a contributor to making us up our game.
Points of discussion include proper amounts to allocate for the pursuit of the exploiter given our current financial situation.
Option to increase bounty amount through additional donations and commitments from our community.
- Fund Recovery from our Treasury
- Don’t Fund Recovery from our Treasury