April

A trader lost more than a million dollars worth of cryptocurrency due to a hard fork of the 0L network. 
An unlucky trader named NN took to social media platform X to discuss losing assets to this change. The user said the community did not approve of the 0L network’s hard fork. 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 1/ How deeply I got rugged by <a href="https://twitter.com/0LNetwork?ref_src=twsrc%5Etfw" target="_blank" rel="">@0LNetwork</a> – 7 figures $ worth. TLDR: The team behind <a href="https://twitter.com/0LNetwork?ref_src=twsrc%5Etfw" target="_blank" rel="">@0LNetwork</a> ( <a href="https://twitter.com/search?q=%24LIBRA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$LIBRA</a> ) decided to hard fork because of a "rogue core" member. This fork resulted in a wipe out of 4% of the total supply, also burning innocent people’s wallets, including tokens… <a href="https://t.co/UdtUBJHO83" target="_blank" rel="">pic.twitter.com/UdtUBJHO83</a>— NN 🌸🐧 (@nn_blossoms) <a href="https://twitter.com/nn_blossoms/status/1788153022683533522?ref_src=twsrc%5Etfw" target="_blank" rel="">May 8, 2024</a>
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The 0L Network was created&nbsp;to reward developers and other community members who actively participate in&nbsp;project construction. 
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 “The team behind @0LNetwork ( $LIBRA ) decided to hard fork because of a “rogue core” member. This fork resulted in a wipe out of 4% of the total supply, also burning innocent people’s wallets, including tokens purchased almost 2 years ago.” <cite>NN, anonymus trader</cite>
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NN purchased 147 million Libra tokens&nbsp;in February 2023, worth approximately $1.47 million at the time, before joining the protocol to help with marketing efforts. 
The trader claims that the team has been aware of the bug for&nbsp;over&nbsp;two years, and some insiders have abused it. However, the team decided to ignore the problem due to the insufficient value of the Libra token. 
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The hard fork&nbsp;resulted from&nbsp;a bug in the smart contract that allowed insiders to unlock tokens faster by distributing them across multiple wallets. However, according to a pseudonymous trader, the loophole&nbsp;remains&nbsp;in the newest version of 0L Network, v7. 
Instead of fixing the loophole, the team decided to fork out all the wallets it believed were taking advantage of it.&nbsp;NN said the team knew that innocent wallets would&nbsp;be impacted as it was impossible to trace all tokens. 
Despite purchasing tokens from six different validators, NN’s wallet&nbsp;was decimated&nbsp;by one validator that the team deemed fraudulent. 
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 “I bought tokens from 6 different validators, yet my entire wallet, containing all my tokens, is being forked out because one of the validators was considered rogue.” 
 <cite>NN, anonymus trader</cite>
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Trader loses over $1m due to 0L Network hard fork

crypto.news

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