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Oasys and Amazon Web Services (AWS) Unveil Web3 Gaming Hackathon with the support of Ubisoft and leading Web3 brands
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$LSS protocol's investigation and voting process has ended 🏁 Decision-Making Body has confirmed the #hack and voted YES to initiate the return of stolen funds back to @aag_ventures 💸 Retrieval of the 78M $AAG tokens will now commence 🔥
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>“If someone snatches the phone from your hand while you are using your wallet, they still can’t steal anything from you,” says the AAG CEO. “If you include other security measures like blacklisting of malicious applications, there are fewer and fewer reasons to use hardware wallets.” To be fair this is a very valid point that. I haven't thought of myself, even if it's a hot wallet and someone takes it, what could they do? Most can't even add an address to save without additional verification, hot wallets have upped their game tbh.
the CEO of AAG Jack Vinijtrongjit hit the nail on the head here. No one has anything against regulation, we just want more clarity on these decisions. From afar it seems like the SEC is just throwing darts in the dark. The decision-making process makes no sense to the outside observers.
AAG is really pushing things forward fast. Their wallet is already great for beginners but now with an off-ramp it is basically your personal CEX. Can’t wait to try it.
One of these hacks actually had some of the stolen funds reverted due to an embedded protocol. AAG tokens from the harmony hack. Bout $1.4mil at the time of retrieval.
What about the AAG tokens that were taken too. How did those get returned and not stolen like the rest?
By implementing the Lossless protocol $LSS. They froze and retrieved 78million stolen AAG tokens (AAG Ventures had implemented lossless protocol) in this exact hack. Maybe more will learn from this, finally
Man if just every affected project would habe implemented the Lossless protocol $LSS. They froze 78million stolen tokens for AAG Ventures $AAG and successfully retrieved them back! That is a fucking helpful use case.
Every project needs to consider the implementation of the Lossless protocol $LSS. It froze 78mil stolen $AAG tokens in yesterday’s attack and retrieved them back!
Should have implemented the Lossless protocol $LSS. Lossless froze and retrieved stolen tokens for AAG ventures, which were also involved in this hack….
Sort of. The horizon bridge held a lot of different things that were bridged to harmony. Eth, WBTC, usdc, usdt, dai and apparently some AAG were locked in there. The hacker removed all of that from the ETH side and my understanding is it was then swapped to ETH. Last I saw it's still in the wallet and hasn't been moved.
#BREAKING!!! 78 Million AAG tokens stolen during hack are recovered!!! We will get through this 💪🏼
78 million AAG tokens. They are not worth a dollar each lol
> out of 100 million stolen 78 million is frozen and can be recovered Nope, that was false hope: https://twitter.com/aag_ventures/status/1540227054683262978 78M $AAG is about $1.2M
Unfortunately this article is misleading: [One correction. The message is supposed to be "78m of 84m $AAG tokens".](https://twitter.com/aag_ventures/status/1540227054683262978) 78 million AAG tokens have a total value of $1,151,280. It's a drop in the bucket.
tldr; Harmony Protocol’s Horizon Bridge was hacked for about $100 million. Metaverse software company, AAG Ventures, lost $84 million in the hack. AAG was able to freeze $78 million of the funds. The hack may be in the servers that were running the two wallets responsible for verifying any transaction. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
TLDR: AAG had partnered with Lossless DeFi and was using their mitigation tool to protect its funds. As a result, Looseless was able to freeze about $78 mln of the $84 mln that was lost by AAG in the hack. In a stroke of luck, Lossless had launched their protocol on Harmony only a day ago and were able to intervene in the event of the hack.
UNIX Gaming, Balthazar, AAG Ventures, YIELD GUILD Games. Saved you a click.
Yeah. That's true so I guess that part could be cleared up a bit....I remember when I had mine you could basically use a toggle to switch between risk exposure? And that brought you into different tiers? So high risk would be speculative longs and option plays, maybe crytpo, and low risk would be like AAG stocks and bonds maybe just as an idea.