$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):
https://twitter.com/CoverProtocol/status/1343559022667046912
The Cover team wrote a detailed article explaining the exploit the next day:
https://coverprotocol.medium.com/12-28-post-mortem-34c5f9f718d4
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).
