Introducing Agentic Fund of Funds — built together with Virtuals Protocol to deliver best-in-class on-chain AI yields for x402 commerce.
Here’s everything you need to know 👇
BasisOS is shutting down.
This is hard to share, but we’re winding down BasisOS. Starting in May, we’ll stop maintaining the infrastructure.
We set out to build the agentic future, but we’ve run out of funding to continue development.
Big update:
🟢 All refunds have been completed following the attack. Please check your wallets.
A huge thanks to @virtuals_io for their quick response and support.
.@virtuals_io Refunds have been executed! You should get back the deposit amount in the wallet you used for deposit (if you made it through butler then it will be in butler wallet)
BasisOS agent is currently not available on Butler yet, but you should see the USDC back to butler wallet.
Come back stronger @BasisOS
Small update: The remaining liquidity from the BasisOS FoF has been successfully transferred to a secure account owned by @virtuals_io and will soon be redistributed among the affected addresses.
TX: https://t.co/nVV13XiiBE
The road to creating a trillion-dollar agentic GDP (aGDP) is never easy. BasisOS is building the first Agentic Fund of Funds (FoF), designed to coordinate yield strategies autonomously.
Early builders take real risks to push the frontier. That said, at Virtuals, we believe users should never shoulder the downside of innovation. While the BasisOS team works to recover the hacked funds, Virtuals Protocol will cover any shortfall from the Virtuals Treasury.
If you participated in the Agentic FoF, you will be fully made whole. No action is required, funds will be restored automatically.
The journey towards an autonomous global supply chain of agents will come with challenges. We don’t have the perfect plan. But we stand by our principles: support the builders, protect the users, and create a safe environment for everyone to benefit from this new world.
The rest will fall into place. aGDP.
As promised, we are updating you with more information on the incident.
TL;DR:
1. We have identified that an internal team member of BasisOS has acted maliciously and stole the funds.
2. All user losses will be compensated.
🧵
As promised, we are updating you with more information on the incident.
TL;DR:
1. We have identified that an internal team member of BasisOS has acted maliciously and stole the funds.
2. All user losses will be compensated.
🧵
The Agentic FoF has been compromised due to a security breach, exposing approximately 531k.
All vaults are currently paused, and withdrawals for the Agentic FoF are suspended pending the conclusion of the internal investigation. The Basis vaults are secure but paused as a precaution; withdrawals remain operational.
Please standby for an update within the next 24 hours.
The attacker bridged all these funds to the Ethereum mainnet.
TX: https://t.co/5yIdZoPkIU.
After this, 218K was swapped for ETH and remains in this wallet, while 310K was bridged to Tron via Allbridge.
TX: https://t.co/ggOr3wMDR0
Recepient: https://t.co/YpxVEEHzrg
And, after several transfers, deposited into the exchange's hot wallet.
https://t.co/KpOFDcdFjA
Spoke with the Basis founders and next steps are locked in. There will be a more official statement coming out.
Tldr:
if you had funds here, you will be made whole. Don’t worry. You don’t need to withdraw (be it through butler or the Basis website) Just leave ur funds be. The Virtuals treasury will be covering any shortfall in funds
We are also helping the Basis team to manage the return of funds to users over the next day, while few security upgrades on the Basis side gets installed.
The breach is due to a Basis “buffer” wallet that was needed specifically in the interaction with zyfai vaults. Other Basis mechanisms have been safu. All ACP mechanisms are safu.
Paying the price of innovating as an ecosystem together, but it will be worth it 🫡🤝
The Agentic FoF has been compromised due to a security breach, exposing approximately 531k.
All vaults are currently paused, and withdrawals for the Agentic FoF are suspended pending the conclusion of the internal investigation. The Basis vaults are secure but paused as a precaution; withdrawals remain operational.
Please standby for an update within the next 24 hours.