Fusible Report: DODO Exchange Attack and the Next Course of Action

First of all, we would like to thank our Fusible community for the unwavering support during these tough times. As you know, the decentralized DODO exchange platform was attacked, thus draining $3.8M in value. The attack resulted in draining a number of its liquidity pools for diverse projects. This was shocking for us as we recently conducted our public distribution sale on the decentralized exchange platform. A part of the attack also involved draining the $FUSI tokens from the platform.

We at Fusible are closely working with the team at DODO exchange to investigate the matter and decide the ideal course of action in the community’s best interest. As a community-centric platform, Fusible is thriving hard to deliver the best in tandem with the ongoing process to safeguard the community. Moving forth, we will incorporate efficient risk management practices to avoid unfavourable circumstances.

The Future Occurrences of Events to decrease the magnitude of the attack

Fusible is operating on various fronts to effectively resolve the damage and normalize the experience as part of its efficient risk management strategy. One primary aspect is to uphold the community’s interest by communicating the ongoing happenings in a fair and transparent manner. These are as follows:

• In order to drive increased transparency within the community, Fusible acknowledges the DODO Exchange attack and its implications on the project.
• We will be curating a community guide describing the procedure on the next plan of action.
• Fusible has started working on the creation of a new token. Thus reinforcing the holders that the tokens are safe with them. The team will take full responsibility for delivering the best to their community.
• The Fusible team has decided to undergo a token swap wherein users with a snapshot of $FUSI tokens will receive the new tokens.
• The snapshot will be taken on 10th March 2021, 3:00 pm UTC and on blocknumber : 5561239, before which we advise the community to stop trading.
• In order to distribute the replaced tokens, Fusible will airdrop the tokens to the users who hold the Fusible tokens and employ an efficient migration process.
• We are constantly communicating with our stakeholders, including media partners, data aggregators including CoinGecko and CMC, and other influencers to ensure a smooth transition from the old tokens to the new ones.
• We are also communicating and strategizing with our investors in order to manage the situation efficiently.
• We will be removing the liquidity from the PancakeSwap liquidity pool to prohibit the hacker from transferring or selling the tokens.

The Current Progress

As we work towards resolving the issue, the community’s support is a primary source of motivation, helping us push our boundaries in difficult times. In these testing times, all we want is your faith and confidence in Fusible’s vision to revolutionize the NFT space. We will soon be releasing updates across our social media channels about the next steps.

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