$COVER hack recap and trading data

3 min readSep 19, 2021

$COVER hack recap and trading data

Cover was hacked on 12/28/2020 at time of 8:11:06 AM (UTC) ,a huge amount of $COVER was minted.

Binance stopped trading over four hours later at 12:40 PM (UTC). Cover team made an announcement over one hour later (2:06 PM UTC).Binance stop trading(that is about 5 hours after the exploit):


The Cover team wrote a detailed article explaining the exploit the next day:


A total of $10107505 (8171634.10 BUSD + 2581.16 ETH) “compensation” from Binance SAFU fund was paid to its users. These compensation will be shared between buyers on Binance during the time between the hack and Binance stopping trading.

(Binance announcement : https://www.binance.com/en/support/announcement/200da2a0f3c74706841a9214fd55c94d)

The result is equivalent to Binance buying all $COVER during the four hours time after the hack.

Screen shots (COVER/BUSD)of trade during that period(UTC):

Screen shots (COVER/ETH)of trade during that period(UTC):

Interestingly, the chart before the exploit is not available now (Aug 16, 2021).