CoinVoice has recently learned that Nirvana Finance has announced its protocol’s recovery plan following the July 2022 hack. In July 2022, hacker Shakeeb Ahmed stole approximately $3.5 million in stablecoins by manipulating the protocol’s pricing mechanism.
After working with the U.S. Department of Justice, Department of Homeland Security, and IRS, Nirvana successfully recovered the stolen funds and Ahmed was sentenced to three years in prison. He was also required to return the cryptocurrency and pay $3.4 million in compensation. Nirvana plans to launch the V2 mainnet in mid-October and start the victim compensation process. [Original link]
