HyperVerse has always been in front of innovation in the Cryptocurrency and Web3 space with particular focus on the Metaverse. The HyperVerse Defi team is bridging the future with reality, creating a new world of the financial digital world with low participation barriers, easy operation, stable returns, openness and fairness for users.
HyperVerse DeFi is a smart money management platform with bank-level security. It is designed to combine and interact with the entire blockchain ecology to create a complete closed-loop decentralized financial platform with the view to maximize smart contract protocols based on blockchain technology. Users can be assured of secure, value-added and trusted financial services for their assets through HyperVerse Defi.
WHAT REALLY HAPPENED?
In early 2022, we discovered that a previously unknown flaw in our code was exploited and this flaw gave the hacker unrestricted access to our systems and while we had multiple safeguards in place, unfortunately before we detected this attack, the damage has already been done as 98%+ of user funds in our hot and cold wallets had already been transferred to the hacker’s wallet.
Once we detected the breach, we immediately commenced damage control measures and one of the biggest and audacious move we made was to try to move our users away from the affected servers and website into a new one, hence the rebrand from HyperVerse to HyperCosmos.
WHAT WE HAVE DONE TO MAKE THINGS RIGHT
REPORTED TO AUTHORITIES: Immediately we noticed suspicious activities in our systems, we immediately contacted the relevant authorities, we also contacted major exchanges like Binance and FTX in case the hacker tries to launder the stolen funds through their exchange, this eventually proved to be a highly strategic move and was eventually the catalyst that ultimately swayed negotiations with the hacker in our favor.
MOVE USERS AWAY FROM AFFECTED WEBSITE: We started the rebranding process that would move users away from the affected servers, in hindsight, we probably could have handled things differently by keeping users informed about the incident, but at the time, our priority was moving users away from the affected servers without raising too many alarms or giving users false hope about the return of their affected funds as we didn’t know for certain if the funds would be recoverable.
OFFER HACKER INCENTIVE: Our platform was involved in a massive heist and we contacted the hacker and offered him a $400,000 bug bounty as reward for returning user funds. When the hacker couldn’t launder the funds through exchanges because of the steps we have taken to prevent that, he eventually agreed to our terms and on the 1st of January 2023, the funds were safely refunded to us minus the $400,000 paid out to the hacker as big bounty.
REFUND AFFECTED USERS: Our platform has been operated on a foundation of transparency and fairness and that is a tradition we would like to continue, so on this note, we would like to refund affected users the funds they lost in our platform although there would be a slight catch…. Only your invested capital can be successfully withdrawn from the platform, all earnings and incentives would be invalidated in the “User Compensation Program” we have setup.
HOW WOULD THE WITHDRAWAL PROCESS WORK?
We would like to ensure every of our investors that we have put extra precautionary security measures in place to ensure that mistakes of the past are never repeated, most of our verification and withdrawal process has been 100% automated and specific verification steps and processes has to be followed for user identity to be verified and withdrawals activated in their individual accounts.
Since the incident occurred, we have been working hard behind the scenes to reach this moment and this is a culmination of all our hard work. Kindly keep an eye on all our telegram announcements channels in the coming days for information and steps required for fund recovery. The channel link is HERE.
Thank you for your patience and for your continued faith in HyperVerse.
For additional Information and Future announcements , Don’t hesitate to reach out to us in our telegram group with the link below:
TELEGRAM: https://t.me/HyperverseOfficialGroup