Eleven Finance — a plan for the return of funds recovered from the Nerve Vault exploit.
As Eleven Finance users would be aware, we have recovered the full amount of funds that were exploited from our Nerve Vaults on Binance Smart Chain a little over 3 months ago.
Please see the details of the exploit and initial recovery plan here:
https://elevenfinance.medium.com/eleven-finance-recovery-plan-a3869f8242d0
Please see the most recent announcement and events here:
The plan from here:
We snapshotted addresses affected to perform our initial 25% refund — we completed this in bUSD. The funds have been returned to us in bUSD as they were exchanged to stablecoins by the exploiter shortly after the attack.
We will make the return on bUSD to all affected addresses.
Addresses that received the initial 25% refund will get the remaining amount in bUSD. This will equate to approximately 3x what has already been refunded. This may not make up exactly 100% but will be very, very close — while the exploiter refunded close to the full amount — trades/transfers/bridging has taken some of the funds. In light of the situation, we feel the totals affected parties will get back is close enough to a full refund, to not be an issue.
https://docs.google.com/spreadsheets/d/1dn8y-5APoVOAhK2v8SXHdziSiENvPVCHA_lgJePlhWc
We will leave this spreadsheet live for 5 days for users to review. Should there be any issues please contact the team via telegram — there were no issues last time, we anticipate there to be no issues this time. However we do want time for some review to ensure all is correct.
Please note the original recovery plan was expected to take quite a deal of time to fully compensate. We appreciate your understanding to wait some additional days to ensure all processes are correct and in place prior to moving funds to affected people.
Please note as per our initial plan the Eleven Finance team has taken out considerable debt to make the initial 25% refund repayment to affected users. We will be making this repayment during this time as well.
Thankyou for your understanding and patience during this time.
