Dai Exploit Investigator Proposal

Background

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.

Proposal
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.

Discussion
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.

Funding for Recovery of Dai
  • Fund Recovery from our Treasury
  • Don’t Fund Recovery from our Treasury

0 voters

We have no money as it is. We are not here to socialize your losses. We already have CORN and Dev fees are going to burning that token. Enough is enough. Don’t kill Pickle and staker payouts to fund dead debt and money we will never get back.

Thanks.

According to Larry, in Discord, Chainalysis and Cipherblade ask around 50k.
50k is ok, 300k is too much - thats almost all treasury at the moment

1 Like

The 300k would actually come from the redeemed Corn that we purchase. That way it doesn’t impact our treasury aside from buying sufficient Corn from Uniswap for redemption.

I will edit the cost down for the set fee though. Still leaving some room for error.