FOLLOW US

Business October 2, 2021 2 mins read

Compound DeFi Has Mistakenly Sent $90 million to Users

Business ı By Rochdi Rais

0 Comments

DeFi

Compound, a DeFi, staking protocol has mistakenly sent $90.1 to the users of the decentralized finance. The founder of Compound is now begging the users to voluntarily send back the crypto tokens.

 “If you received a large, incorrect amount of COMP from the Compound protocol error: Please return it,” Robert Leshner, founder of Compound Labs, tweeted late Thursday.

“Keep 10% as a white-hat. Otherwise, it’s being reported as income to the IRS, and most of you are doxxed,” continued the tweet.

The price of Compound’s token “comp” plummeted by about 13% in 24 hours period following the news. However, it has gained back momentum a few hours later. Now it is uncertain whether the users will decide to return the $90.1 million to the platform.

s “Alchemix [another DeFi protocol] had a similar incident a few months back where they gave out more rewards than intended,” blockchain security researcher Mudit Gupta told CNBC. “Almost everyone who got the extra rewards refunded the extra.”

However, for Alchemix exchange, the sum was only $4.8 million. Still, Gupta is hopeful that users will send the tokens back to the platform. 

 “This makes me optimistic that people will refund most of the COMP tokens, as well, but you can never be sure,” he said.

How It Happened

Decentralized Finances (DeFi) protocols are designed to recreate traditional financial systems such as exchanges and banks by relying on blockchains.

On Wednesday, Compound had set up a supposedly “normal” upgrade which turned out awfully for the company. 

 “The new Comptroller contract contains a bug, causing some users to receive far too much COMP,” explained Leshner in a tweet.

“There are no admin controls or community tools to disable the COMP distribution; any changes to the protocol require a 7-day governance process to make their way into production,” he added, indicating that no fix could take effect for a week.

Gupta, a core developer at decentralized crypto exchange SushiSwap, said in a tweet that the entire episode could be blamed on a “one-letter bug” in the code.

 

Previous Article

Britney Spears Father could go to jail, claims he was a great conservator

Read More
2774 Posts

Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
America November 04, 2026 CVS To Split In 2, Unwinding Nearly a Decade-Old Healthcare Merger By – Tyler Brooks
America November 04, 2026 Democrats’ Senate Takeover Sends Shockwaves Through Washington By – Tyler Brooks
America November 4, 2026
Alaska and Mississippi Senate Races Still…

Alaska and Mississippi Senate races remain too close to call.…

By – Derek Johnson
International November 4, 2026
Trump Says US Will Stop Paying…

President Trump says the US will stop about $4 billion…

By – Derek Johnson
America November 4, 2026
Democrats Win Congress: Voters Hand Trump…

Democrats have won the House and Senate, flipping seats in…

By – Derek Johnson
America November 4, 2026
Hakeem Jeffries and the Power of…

WASHINGTON — Hakeem Jeffries is poised to become the first…

By – Michallie K Harrison
America November 4, 2026
Freedom for Whom? El-Sayed, Hinojosa and…

El-Sayed and Hinojosa have given America two victories that belong…

By – Michallie K Harrison
America November 4, 2026
America’s 60-Day Danger Zone After the…

WASHINGTON — Americans voted to change the balance of power…

By – Michallie K Harrison
America November 4, 2026
Nuremberg Trials Part 2: The 2026…

WASHINGTON — The 2026 midterms have delivered a political earthquake.…

By – Michallie K Harrison
America November 4, 2026
Keisha Lance Bottoms Just Broke a…

For 250 years, the United States has called itself a…

By – Michallie K Harrison
America November 3, 2026
Erika Eleniak Turns OnlyFans Success Into…

LOS ANGELES — Erika Eleniak is proving that life after…

By – Jackie Allen
America November 3, 2026
Chinese Biotech Giant Novogene Sues Pentagon…

Key Takeaways Chinese biotechnology company Novogene filed a federal lawsuit…

By – Samuel Lopez
America November 3, 2026
Convicted Killer Captured After Nine-Day Manhunt…

Behind the Prison Break Two Tennessee inmates escaped state custody…

By – Samuel Lopez
America November 3, 2026
Reflect Orbital Wants to Sell Sunlight…

Beyond the Beam — Three Things to Know 1. Reflect Orbital…

By – Samuel Lopez
America November 3, 2026
Soft War? Trump Orders Limited U.S.…

WASHINGTON — November 3, 2026 — President Donald Trump described…

By – Jackie Allen
America November 3, 2026
Supreme Court Takes Up Colorado Preschool…

What the Justices Must Decide Colorado says every publicly funded…

By – Samuel Lopez
America November 3, 2026
Trump Weighs Iran Strikes as Carlson…

WASHINGTON — U.S. officials have warned regional allies to prepare…

By – Michallie K Harrison
America November 3, 2026
China May Be Making Weapons-Grade Uranium…

China has likely resumed producing weapons-grade uranium after a pause…

By – Michallie K Harrison
America November 2, 2026
Adam Robinson Among Nine Killed in…

A Texas technology entrepreneur, his wife, their two young children…

By – Tyler Brooks
America November 2, 2026
Protective Acquires Obsidian, Adding Specialty Insurance…

Protective Life Corporation has completed its acquisition of Obsidian Insurance…

By – Tyler Brooks
America November 2, 2026
NASA Telescope Will Fall Back to…

What to Watch as Swift Comes Down NASA says the…

By – Samuel Lopez
America November 2, 2026
NTSB Says Learjet Reported Ice And…

What Investigators Know So Far The Learjet crew reported light…

By – Samuel Lopez
America November 2, 2026
WeRide Insurance Partnership Brings Allianz and…

WeRide is strengthening the foundation beneath its international autonomous driving…

By – Tyler Brooks
America November 2, 2026
Markel, Enstar $4.8B Reinsurance Agreement Targets…

Markel Insurance and Enstar have struck a major reinsurance deal…

By – Tyler Brooks
America November 2, 2026
Lenny Kravitz Death Rumors Debunked After…

Viral claims that rock star Lenny Kravitz died aboard a…

By – Tyler Brooks
America November 2, 2026
Weaponization Allegations Grow as Charges Against…

WASHINGTON — Nov. 2, 2026 — Allegations of political weaponization…

By – Jackie Allen
America October 31, 2026
A New 2026 Twin Study Revives…

Three Takeaways Identical twins and triplets were separated through adoption…

By – Samuel Lopez
America October 28, 2026
Michigan Double-Digit Health Insurance Hikes Set…

Michigan residents are facing another costly year for health coverage,…

By – Tyler Brooks
America October 28, 2026
Miyoko Plant Butter Recall Sparks Food…

A plant-based butter product distributed across 10 states is being…

By – Rachel Moore
America October 28, 2026
Pentagon Ketamine Contract: $41M Deal Under…

WASHINGTON — The Pentagon has awarded a Singapore-based pharmaceutical company…

By – Michallie K Harrison
America October 28, 2026
CDC Warns Drug-Resistant Germs Threaten Modern…

WASHINGTON — Drug-resistant germs are causing millions of infections and…

By – Michallie K Harrison
America October 27, 2026
Walmart Great Value Fruit Cocktail Recall…

A canned fruit product sold at Walmart is under recall…

By – Rachel Moore
America October 31, 2026
Bill Belichick and Jordon Hudson Reportedly End…

Bill Belichick and Jordon Hudson reportedly ended their romantic relationship…

By – Jackie Allen
America October 29, 2026
Brewers Beat Rays to Win First…

ST. PETERSBURG, Fla. — The Milwaukee Brewers won their first…

By – Michallie K Harrison
America October 23, 2026
Connor Hellebuyck Traded to New Jersey…

The New Jersey Devils have made a major move to…

By – Tyler Brooks
America October 19, 2026
Information Ecosystem: Five Tools to Detect…

The information ecosystem is increasingly vulnerable to misinformation. There are…

By – Jackie Allen
America October 19, 2026
An Airman Died After a Pregame…

By Michallie K. Harrison | Opinion Tech. Sgt. Ian Patterson’s…

By – Michallie K Harrison
America October 16, 2026
NFL Player $300M Hip Surgery Lawsuit…

Athletes bet their bodies on surgeons the way pilots bet…

By – Tyler Brooks

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter