Josh (@devjoshstevens)
@devjoshstevens
VP, Engineering Defi @polymarket • prev SVP, Engineering at @aave •
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False.
We are launching a new beta product and allowing a select group of users to try it out, with KYC required only during this beta period. No KYC is being added to any part of existing with this launch. Once this product is out of beta no KYC will be required to use it.
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No polymarket or UMA contracts have been exploited. All user funds are safe, and using is safe, so business as usual.
We had a 6-year-old private key that was compromised. This was in the internal top-up config, which is why funds were being sent to it. We have rotated this key, revoked all prod permissions and are moving all PKs to KMS keys from now on.
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The release everyone was waiting for is now live. Ghost fills dropped from a peak of 30% to 0.17% with the rollout, and will continue trending toward 0% throughout the day.
We know this issue was hurting everyone's experience and we're truly sorry for that but it should now be night and day. This was a significant core protocol change and we're incredibly proud of the whole team for executing it.
We'll keep improving our systems, step by step, until we're the best exchange in the world.
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