The 1inch Foundation Puts Forward a User Reimbursement Strategy After October Exploit

The 1inch Foundation has unveiled a comprehensive proposition focused on reimbursing users affected by a security breach that occurred last October. The proposed strategy aims to address the financial losses sustained by users as a direct consequence of the exploit, and the Foundation is actively working to re-establish confidence in the platform. Details of the strategy include various tiers of compensation dependent on the magnitude of the loss experienced by each user. In addition, it comprises a straightforward mechanism for submitting claims and having them reviewed by an independent committee. The Foundation is dedicated to ensuring that the reimbursement procedure is equitable and transparent for all impacted users. The Foundation will collaborate with cybersecurity specialists to guarantee that the strategy is implemented efficiently and securely. This initiative is intended to reinforce 1inch’s position as a reliable provider of decentralized financial services.