Users with funds stuck on the multichain token bridge provided by Allbridge are first in line to receive compensation under a recovery plan posted by the project following a recent exploit.\u00a0<\/p>\n
In an April 5\u00a0statement, Allbridge said it has already started a compensation process for users despite only \u201cpartly recovering funds\u201d after it was hacked for roughly $573,000 on April 1.<\/p>\n
\u201cWe will start with the bridge users whose transactions got stuck in pending due to the emergency shutdown,\u201d Allbridge said, adding it will then compensate its liquidity providers (LPs).<\/p>\n
\u201cWe aim to fully compensate those victims of the exploit with funds available to us,\u201d it wrote.<\/p>\n
It noted that it enabled LPs to withdraw funds on April 2, with the majority withdrawing their assets from the pool. Some, however, could withdraw even more \u201cdue to the pool\u2019s disbalance.\u201c<\/p>\n
Others could not withdraw \u201ca reasonable amount\u201d from the liquidity pool due to some users withdrawing more than their original balances and the hack\u2019s impact on the pools.<\/p>\n
An application form is currently being drafted for LPs who could not withdraw their assets, allowing them to apply for compensation and provide details of their losses.<\/p>\n
The form is anticipated to be completed within the next two days. The compensation process is expected to commence next week, starting with users who \u201chave used the bridge shortly before the shutdown.\u201d<\/p>\n
\u201cAll the affected parties by the exploit will be subject to additional rewards in the future, but compensation remains our main priority.\u201d<\/p><\/blockquote>\n
The compensation plan comes after Allbridge tweeted on April 3 that 1,500 BNB (BNB), worth approximately $465,000, was returned to the project following a public proposal made to the hacker in an April 1 tweet.<\/p>\n