Wemix has finalised a plan to compensate 피해 from a security incident involving Wemix Dollar that occurred in July. Those eligible include users who held Wemix Dollar at the time, supplied assets to related liquidity pools, or suffered trading losses during the incident period.

The Wemix team on Tuesday disclosed the compensation plan for the Wemix Dollar security incident. It comes a month after the contract owner authority for Wemix Dollar was stolen on July 26 and about 5.22 million Wemix Dollar were abnormally issued.

The Wemix team said it conducted a full review of on-chain data on Wemix 3.0 and PlayChain and analysed transactions from the start of the illicit issuance until use of the related liquidity pools was halted.

The number of addresses holding Wemix Dollar immediately before the incident was 175,495, and the compensation amount totals 618,101.16 eqWEMIX$ in value. The number of addresses that supplied assets to 61 liquidity pools that included Wemix Dollar was 1,128, with compensation calculated at 513,239.40 eqWEMIX$ in value.

A total of 7,347.78 eqWEMIX$ will be paid to 25 addresses that incurred losses from trades during the incident period. A total of 3,155 PLAY will be paid to 41 addresses where sell orders were executed on the PNIX DEX order book.

The Wemix team said it is still analysing transactions and that the targets and amounts could change if suspicious-trade classification or additional compensation scope is confirmed.

eqWEMIX$ to be paid for 1:1 exchange with USDC.e

The Wemix team will issue eqWEMIX$, a token for exchange, considering that normal exchange of Wemix Dollar became difficult after the incident.

eqWEMIX$ will be paid without separate applications to Wemix Dollar holders and users confirmed to have suffered trading losses during the incident period. After the Wemix Dollar module resumes, eqWEMIX$ can be exchanged 1:1 with USDC.e. Exchanged eqWEMIX$ will be burned.

Liquidity providers will be compensated only for losses they could not recover due to the incident, not for the entire amount of assets deposited. Because the assets and quantities paid differ depending on the supplied token pair, separate registration is required.

Assets obtained through transactions linked to the illicit issuance are excluded from compensation. The Wemix team said it recovered 846,396 WEMIX and 505,723 DRACO through an internal control system. If it confirms assets that were paid normally in the process of acquiring the recovered amount, it will return those assets in kind.

Buyback three times the amount potentially entering the market

Separately from compensation, the Wemix team will also conduct a buyback of 500,000 WEMIX.

The maximum amount of WEMIX that could additionally flow into the market due to the incident was estimated at about 160,000. Of that, 34,752 were moved externally by the attacker, and the remainder flowed in through trading until use of the liquidity pools was halted after the incident.

The Wemix team said it will repurchase 500,000 WEMIX, about three times that amount. Purchases will be carried out sequentially using time-weighted average price and volume-weighted average price methods in parallel depending on market conditions.

Compensation payments and eqWEMIX$ exchanges will be processed in a weekly batch. Detailed payment schedules and registration methods will be provided later through a separate notice.

The Wemix team said compensation guidance will be provided only through official channels and urged users to be cautious of contacts that ask for private keys or wallet recovery phrases.