ChainSwap Hacking Event Handling and TSHP Token Compensation Plan
The cross-chain bridge project ChainSwap that we used to map TSHP tokens on the BSC chain was exploited on July 2 and July 11, 2021, which resulted in a total loss of 55,489,431 TSHP tokens on the bridge.
1. The Hacking Event on July 2
Concerning the first ChainSwap hacking event on July 2, the 12Ships team has negotiated and reached a consensus with the ChainSwap team to compensate all affected users. In this hacking event, only one user lost his TSHP tokens regardless of the loss which the 12Ships team suffered. We have reached the user and communicated with him to complete the payment of compensation on behalf of the ChainSwap team. Read more about the compensation plan of the ChainSwap team.
2. The Hacking Event on July 11
As for the second ChainSwap hacking event on July 11, the 12Ships team tracked the hacker’s address and retrieved 23,251,855 TSHP tokens successfully while the ChainSwap team won’t compensate the affected users in the second hacking event.
To safeguard the TSHP assets against being sold out by the hacker on the exchange, the 12Ships team has contacted the Gate team to close the deposit entrance for TSHP tokens temporarily and it will be re-opened soon after the matter is tackled. Finally, all affected users in the second hacking event could claim actual reimbursement of TSHP tokens with the team's hard work.
To claim the compensation, please directly contact our marketing director or connect with the team through the community managers before July 31, 2021.
About 12Ships
12Ships is a disruptive mining platform that utilizes revolutionary technology to transform the mining industry. Originating from South Korea, the platform strives to make it possible for ordinary users to mine by providing profitable and high-performance mining infrastructure. 12Ships insists on technology-driven development of a mining ecosystem, including ASIC mining products, Filecoin mining machines, mining pool, staking pool, etc.
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