📢 UPDATE: Recovery Progress for Gondi Exploit
Since containing the exploit, our focus has shifted entirely to making affected users whole. Here is where things stand.
🤝 Items sold to third parties
Several NFTs were purchased by innocent buyers who had no knowledge of the exploit. We reached out to each of them directly and asked for their help in returning the items to their rightful owners.
The response from the collector community has been humbling. Collectors stepped up without hesitation. Thanks to them, we have already recovered and returned:
• Aluminum Gazer
• Servant of the Muse
• Doodle
• Lil Pudgy
We are in active conversations on additional items and expect more to follow, including Taxmen. We are grateful to everyone who has cooperated.
🔍 Items still in the exploiter's wallet
For NFTs remaining in the exploiter's wallet, we are pursuing two paths depending on the nature of the item:
• 1/1-of-X collections: We have already bought comparable items from the same collections and transferred them to affected owners, and will continue to do so for any remaining cases. While not the exact same piece, we believe this is a fair and meaningful resolution and are coordinating directly with each owner.
• 1/1s: We are working hard on recovering these items and are in active discussions with the relevant parties. We are committed to finding a good resolution for every affected collector.
💙 A note on the situation
Every item recovered so far has been bought back using Gondi's own protocol fees. We made that decision immediately and without hesitation, because it was the right thing to do.
It is also worth reiterating: NFTs in active loans were not affected by this exploit, and were never at risk at any point.
🔒 Security confirmation
The Gondi protocol has been reviewed and confirmed safe by two independent parties: the team at Blockaid and an independent auditor. Sell & Repay feature remains disabled while we develop and deploy a fix.
All other platform functionality is fully operational. The NFT space runs on trust. We take that seriously and will continue to post updates until every affected user has been fully resolved.
Gondi is safe to use.
Onwards.
Privacy wins. Today the Fifth Circuit held that @USTreasury’s sanctions against Tornado Cash smart contracts are unlawful. This is a historic win for crypto and all who cares about defending liberty. @coinbase is proud to have helped lead this important challenge. 1/6
🌈 GIVEAWAY ALERT 🌈
We're teaming up with SquiggleDAO to give away 3 exclusive shirts featuring Chromie Squiggle #61 from their collection.
To Enter:
• Follow @gondixyz & @squiggleDAO
• Retweet this post
• Comment "I love internet rainbows"
Winners announced in our Discord.✨
First 300 entries get a chance.
Introducing GONDI V3 ✨
A Major Upgrade to the Premier NFT Lending Protocol.
GONDI V3 takes capital efficiency to the next level, empowering users to customize their strategies like never before.
Here’s what’s new 🧵👇🏼
Aaand, we are out. Massive team effort to get this out. A personal favorite feat: buy @cryptopunks from the native marketplace in a single transaction using a matching loan offer. Pack your bagzzz. NFA.
It's been some amazing first few months at @gondixyz , and this is just the beginning.
Over 4,200 ETH in loan originations and 1,300 ETH in outstanding loans.
We've had a blast getting to know so many of you, understanding your needs, and learning about all types of edge cases.
The Gondi team will keep building to push the space forward. Thank you for your trust and support. 🤝
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