Moving contract addresses has effectively blacklisted the hacker’s stash of OCEAN tokens. But it also raises questions of the project's true immutability if the protocol can be effectively hard-forked in one weekend.
Prior to the hard fork, the hacker offloaded some 330,000 OCEAN tokens worth $120,000, according to The Block's head of research, Larry Cermak. Ocean Protocol has a liquid supply of 587,622,921 OCEAN tokens with a maximum supply of 1.4 billion OCEAN.
Singapore-based KuCoin was hacked Friday beginning at 19:05 UTC. The hacker gained access to the platform’s hot wallet keys, said KuCoin CEO Johnny Lyu in a weekend livestream.
Lyu said the platform intends to cover for hacked losses with insurance funds.
The Ocean Protocol team did not return questions for comment by press time.