💬〕general

[drifting oar]

but refund at what price? i sold right before the team sold, and i was way up earlier today

[inner topaz]

Regarding these messages, the sILV pool was not an official pool. I said from the beginning that someone was going to seed the sILV pool, but we would never officially endorse it. @plain delta mentioned earlier that someone suggested I made the pool based on an AMA. I am saying "thankfully" in quotations because I am implying I knew it would happen. Not because I made the pool myself.

As a lot of you know, I have been trading in the pool too; for this reason, I feel somewhat personally responsible, even if it was just shedding light on a pool that honestly shouldn't even be functioning - but this is crypto and when an arb opportunity arises people are going to take it.

We are still doing analysis, but it looks like I will have enough sILV personally to reimburse all of the affected users (This does not include people trading POST our official announcement saying do not purchase in the sILV pool. This way, it will have zero effect on the DAO or its members. It will end up net positive because there will be fewer circulating V2 sILV

[civic pine]

Guys they are literally going to remake sILV and then send everyone the exact amount they owned. Ez.

[sterile fjord]

BigTime had an exploit?

[fallow creek]

sIlV is intended for in game purchases and land sale, not an investment so you'll get your money back in terms of in game value, which is just the same amount of sILV

[quick kayak]

why ? sILV was lower than the ILV price. Once the land sale starts, sILV will have the same value as ILV (in terms of land buying power) and that will very likely also be reflected on the sILV price in DEXes like Uniswap

[south hatch]

[slate tinsel]

Not how crypto works my friend

[hot wasp]

These news are impacting the ilv price as well

[tropic moss]

how fucked am I after buying after the 100,000,000 dump

[pseudo steeple]

@inner topaz since you mint additional sILV and dump it directly to pool -> pool providers should get the refund. regardless of pool being official or unofficial

[mellow lily]

Oh man, i saw the dip and bought around 1.5k USD. But I was 12 minutes after the announcement and didnt see it... I'm in trouble...

[sage falcon]

Raw without lube

[soft trellis]

Tell us how many Silv you owe. I’m curious 🥺

[woven geyser]

Everyone saying that people will get fairly reimbursed and get all their money back have not been in crypto long enough or through an exploit. It is VERY challanging to make it possible for everyone to get their money back unless the devs put in their own money. My thinking is because the DEX was not authorized by them we are all going to be out of luck on this exploit. Some people may get something back, but Im willing to bet most people will feel screwed after this. It's crypto. You know what you signed up for...

[sharp pebble]

This exploit could probably explain the surprisingly low price of sILV on the open market. However, remember, every minted sILV is an ILV that is taken away from the maximum available supply of 10M ILV. So if 1M sILV are minted. There will only ever be 9M ILV created. Which theoretically should increase the value of the remaining ILV.

Can someone confirm that I am correct in this?

[inner topaz]

I just did put my own money in

[quiet trail]

Its not impacting ILV, it may but not as big as you might expect it. Maybe when the news comes out it will or it may. But lets us hope it does not.

[warm surge]

Lol, so no change in plans then 🙂 Can I still buy land with it?

[inner topaz]

Again, we are still doing analysis but the maximum is around 2K

[solar rose]

is that a head and shoulders

[fossil ridge]

This seems totally unfair, since I bought when it was going down.... you guys should stop all activity on the contract!

[urban fog]

Do you need to have a wallet connected somewhere to be eligible for this

[gray cipher]

I’m scared but hold for now

[wooden whale]

This is unbelievably generous and excessively responsible. Don't do this. We're all in it together. We want to take part of the hit with you.

[quick kayak]

will you guys not create a new smart contract for sILV(v2) and airdrop to sILV v1 holders based on a snapshot ? in that case why do you need to pay from your pocket ?

[sterile fjord]

This has more to do with the person who sold into the LP, not the existence of the LP. It has nothing to do with the LP.

[summer goblet]

Wdym you owe 2k sILV to who?

[fallen seal]

will silv v2 be transferrable? cause i had it in 2 different wallets

[lusty aspen]

legend

[zenith sapphire]

Let's go

[sick sentinel]

will there be possiblities of another unofficial sILV v2 pool on uniswap#

[wicked mantle]

Great leadership example. Illuvium will be even stronger after this. How people and organizations deal with loss and failure is what separates the great from the others! ❤️

[zenith fable]

Big time fucked up one of their nft sales recently and a lot of their community were left feeling fucked over

The developers never showed face and it was handled very poorly

Here you have Aaron with a quick announcement, it's on iLV's twitter and Kieran is personally reimbursing people from his own pocket.

Night and day difference like i said, and it doesn't surprise me. If you know anything about the team, you know they would always take care of matters like this with the utmost care

[inner topaz]

It's not our pool, we can't shut it down, thats why we minted a bunch of sILV and drained the liquidity and now we are going to reimburse people who were affected

[glossy sage]

Not recieved from quiz rewards yet, counts as holding though? Please check I sent you a discord PM 👍

[mellow lily]

Somone posing as Aaron just DM'd me, please watch out for scammers!

[sage falcon]

You bought after it went to 0.0001 $?

[hardy gust]

Are we getting reimbursed by 1 sILV = 1 ILV? oR what will the price fo our sILV be?

[final plume]

I think they will deal with the quiz later. I'm also waiting, but we will get that silv

[soft trellis]

Haha sorry Kieran I meant how many Silv do you own* but I see my answer, thanks!

[sage falcon]

Your old sILV will be replaced with new sILV. They will simply create a new token and airdrop to anyone who held sILV before the snapshot.

[spare scroll]

Maybe they are paying for the airdrop gas?

[inner topaz]

I technically don't owe it anyone. That pool was never endorsed by Illuvium officially. But I want to mitigate the loss to the community as much as possible and the only way to do that is personally

[placid edge]

when was the snapshot? before announcment?

[bright glen]

[cinder ruin]

bro what

[warm surge]

I am scared with you too, I had a big stack of 161 sILV worth 22+eth when I last checked 😢😓😰

[glad fox]

Glad I never bought sILV

[fossil ridge]

no, at $200 each, had an order in place.

[merry mountain]

Er… what??

[ebon snow]

Don't think you understand what happened

[leaden isle]

ppl wants 1 silv = 1 ilv in remboursement.. Guyz, we all be happy if they give money back but same amount as bought. Not 1 silv to 1 ilv

[ancient swallow]

How sure that website is save?

[pseudo steeple]

refund for silv/weth liquidity providers has 2x multiplicator xD

[inner topaz]

We have a snapshot prior. If you owned sILV before then. You will be reimbursed

[stiff crown]

When is a land sale ?

[gray cipher]

Mint equivalent amount of Silv v2 and burn ILV

[stable pasture]

lol so I bought a few mins after ann and didnt saw it, fml

[drifting oar]

reimbursed at what price?

[digital rock]

So this is confirmed then ?

[lost glacier]

Thanks for the great communication team

[lilac grove]

@inner topaz Brother could u share the exact time when the Snapshot was taken. Thank you in advance

[slate tinsel]

Price doesn’t matter… 1 silv = 1 silv

[humble trail]

legend.

[dusty plank]

sILV has always officially been worth the price of ILV for in-game purchases. Nothing changes with a new sILV token. We'll have to wait and see if there's another unofficial LP set up.

[inner topaz]

With the equivalent V2 sILV

[fallen seal]

at this point open an official silv v2 pool

[wooden burrow]

This should probably happen, but obviously well after this issue is resolved.

[open leaf]

Illuvium will come back stronger. I have all faith in the team and their efforts. We're all one big family.

[glossy sage]

I hope brother, I will get really sad if we don't. 500$ is alot of money for me and would get me started in alot of things 😢

[runic ruin]

imo the day it gets released, people will spin up an uniswap silvV2/eth pool and trade it again

[mystic yew]

Gm. I already bought $sILV from the pool 😑

[quick kayak]

@inner topaz the community has spoken

[minor delta]

Honestly, everyone affected here should be thanking you since this is not even your fault. That's going above and beyond for your community. Much respect and very thankful to have you as a leader for this project.

[inner topaz]

The price should be pegged to ILV. If another market is created for v2 sILV (and it will) then whatever it starts trading at. I would assume similar levels to the original sILV and an increase closed to peg as we get closed to the land sale (but thats just my personal opinion, and has been on the original sILV too)

[little oasis]

If ILV holds 1000 usd even after all this fud, I shows how many people trust the team

[tough nacelle]

so if we had 16 sILV (V1) before the snapshot we should expect 16 sILV (V2)?

[dusty plank]

That would entail a change to the tokenomics to support a sILV liquidity pool. Having the pool on a DEX but officially supported wouldn't have changed anything that happened today. Just saying...

[mellow lily]

damn, then I lost 1.5K from being a few minutes after the announcement. I wish there was a way to isolate the sILV sold in the scam transaction so that I dont lose out for being late to read the announcement

[hot oar]

Is something being thought to create an official sILV pool? Cause if something bad happens again, it would be easier to just close the pool, or am I wrong?

[magic slate]

I think when Kieran meant reimburse he is going to make sILV v1 rendered useless and all of the people who had the legitimate sILV prior to the hack will be given sILV v2 which can be used in game and land sale.

The question now is if this hack has been only done recently or it has been happening for months…

[plain delta]

This is correct except for the exploit, and the sILV we put in. But we will solve it.

[inner topaz]

The way I see it, if it wasn't for this community, the ILV wouldn't be worth anything anyway, so its an easy decision

[placid edge]

i lost 1.5k too brother..

[ancient swallow]

still see my funds on website

[plain delta]

It's not a pool we control. This was an unofficial pool that wasn't seeded by us. We literally couldn't if we wanted to.

[zenith bridge]

Look at it this way:
If you truly believe in the project, an exploit is welcomed for 2 reasons.

1. You get to buy more for less before mewn
2. The infrastructure is getting HARD tested before the actual game launches. Better sooner rather than later.
3. Did I mention you get to buy the blood and fear for cheap before mewn?

Blessed be the exploit 🙏

[digital rock]

Guys there is a fake Aaron messaging be careful

[oak spire]

does this issue affect planned land sale date?

[lilac grove]

What Exact time did the Snapshot happen at?

[sharp fog]

Any list of addresses?

[woven geyser]

Certainly will

[fallen seal]

just trying to understand exactly what transpired -- how do you not owe anyone? did the team not mint thousands of sILV out of thin air in order to drain the pool's liquidity and pull out all of the ILV to 'save' the users? and therefore is all of that ILV not owed to the owners of the sILV? since the purpose of the mint was solely to pull liquidity to prevent the exploiter from dumping. please correct me if i'm wrong
@inner topaz

[buoyant imp]

Just read the coindesk article on this and this fact isn’t clear I don’t think

[sharp pebble]

Well if there was an vulnerability in the contract making it possible for an exploiter to mint sILV. That has nothing to do with an unofficial pool. This pools was just used for the exploiter to take profit right away from his minted sILV through the vulnerability. The vulnerability was in Illuviums contracts. How else would an attacker be able to mint sILV. If not. Please let me know how I can create a pool and mint sILV out of thin air.

[minor delta]

https://tenor.com/view/this-guy-gets-it-nick-offerman-gif-14758472

[hardy gust]

Seems really reasonable. But we do need a land sale announcment when sILV goes live 🤣

[modest pelican]

don’t have much to add but you see the strength of the team in how it handles unplanned events and disaster recovery

and throughout this experience I’ve only been reassured that this is the right team and community

have seen countless exploits over past year and communication usually scant until long after

thank you for hard work, remediation plans, and clear communication

[lusty aspen]

all of you need to actually read and understand what happened cus these kinds of dumb comments cause fud

[plain delta]

We have already answered this in the announcement.

[craggy patio]

So can someone sum up what happened?

[uncut elm]

Good question, assume it goes to the liquidity providers?

[drifting oar]

i would just like to ask the team that they announce the block that they take the snapshot at, when they take it

[fossil ridge]

the team should have stop the contract from transacting as soon as they found out the exploit and that will save hundreds of users thousands of dollars

[rich terrace]

check pins!

[quick current]

Was the drop in sILV on dextools due to fud or security vulnerability or what?

[inner topaz]

Because it does have a value, and if it comes from the treasury we will be required to mint more sILV than is intended, increasing the supply. If it comes from me personally, then there is zero affect

[tame zealot]

y'all got some NFTs for me to screenshot?

[sage falcon]

Im happy i took it upon me to look at the announcements before buying cheap silv on uni. Thanks!

[inner topaz]

There will be plenty of marketing don't worry

[plain delta]

It's not our contract. It's a pool made on Uniswap that we had nothing to do with.

The exploit of sILV is our fault. But we can't just stop a contract we didn't create. It would be like telling us to stop the ETH/ Dai pool or something. We can't.

[lofty knoll]

The team is going to use the ETH that was acquired from the swap first right? No need to dig in your pocket if there is enough ETH

[solar rose]

DELETE THAT SCREENSHOT

[runic ruin]

any eta on when we can expect SILV V2 in our wallets?

[quiet prawn]

bruh it just happend.... go make some hot coco and come back in 48 hours lol

[sage falcon]

Lmao that is the LPs ETH

[zenith bridge]

Damn look, Yahoo Finance and CoinDesk have already written articles about this. FREE PRESS PEOPLE!! OMG This dip buying oppurtunity is about to be legendary 🤤

[sharp fog]

Can we have the block number of the snapshot?

[brittle shuttle]

how many ETH did the team take/rescue from the Uni pool?

[lofty knoll]

That is what I'm saying

[urban fog]

Do you need to have a wallet linked somewhere for them to check, mine is in a metamask

[lilac grove]

Oh boy, I hope ILV price won’t suffer too bad from this

[slate tinsel]

I’ll be there to buy your 2 ILV

[cedar marsh]

why not? you can buy more at a discount

[mellow lily]

This is an unfortunate truth we need to suck up and deal with now.
I'm just praying for the snapshot timestamp.
Announcement: 19:29 UTC
Transaction: 19:41 UTC

[sage falcon]

Oh no the market is gonna tank when you sell a whole 3.5 ILV!

[inner topaz]

Then we would need to set a value for V2 sILV by seeding the pool and we aren't going to do that.

[sharp pebble]

Ok, so you are saying that the vunerability that an attacker used to min sILV was in your contracts. Then he used an unofficial pool to dump all his stolen sILV to make ETH. Because of the excessive selling of these created sILV the price of sILV dumped. And you mean that you can not stop the Uniswap pool from existing. Or any free market of the sILV being sold. Of course not. But the excessively minted sILV is your responsibility.

So how I see it. The persons that bought sILV for cheap on the open market before the announcement are very lucky. Because they will get equivalent safe V2 sILV. Which in time when thave a use case like in game and land sale, most likely will be worth same as ILV.

So congratulations to the people who bought sILV for cheap. Hats off.

[inland moat]

Hello Aaron
i'm an ILV staker and holder and have been with you guys for a while now .
i did not know what happened to the pool and have bought 2Eth woth or sILV. i mean i dont have Discord on my mobile just my pc .
i never know this is a scam or something like that just though some whale might be selling all their slv or something like that that coused the price to drop
i was not aware of your announcement about Not buying from Uniswap
i also had 24 sILV before all this happening

Please man i can't take this loss i am from a 3rd rate country ... its my fathers life saving 🙏🏻 🙏🏻 🙏🏻

[inner topaz]

The easiest and simplest way is to not send me the V2 sILV, and then its like the hacker only drained my wallet

[stable pasture]

Im kinda in the same boat...

[haughty osprey]

you act like were already out of the woods 😂

[quick current]

ya check out opensea you will find plenty. I've given up and lost count.

Seriously though let me go open my bank's safe box and buy more from all the fud, lol. This is a blessing in disguise

[timid osprey]

I've been in crypto for a while and I can honestly say I'm even more bullish on the Illuvium Project after today's events. This team keeps surprising me on how well they handle every situation. It's very easy and comfortable to give interviews and talk a big talk when things are going well and most projects excel at that, but it is on a crisis that true character shows. Just take a breather for a second and think how transparent Aaron and Kieran are being here, how well informed they are keeping the community and how quickly they took care of things to mitigate the damage. If you are in other projects as well I'm sure you can tell the difference! This is the type of moment we will be proudly talking about months down the road for handling it well and moving forward stronger. Crypto is a jungle and rug pulls are everywhere so backing a project this early is pretty much backing the integrity of people behind it. We should be thankful we have the Warwicks behind the wheel 😉

[glossy sage]

Can't SILV v2 be like a 500$ stablecoin? Or whatever the price?

[fossil ridge]

give me some tier 4 land and I will be happy with the 10K I lost

[hazy belfry]

what time did you take a snapshot? I bought silv announce 3minute later of announcement.

[ancient swallow]

better wait till team has everything under control and check announcements. Dscord is not hacked again?

[blazing shore]

I wish more Bosses could be having this mindset.

[runic ruin]

then what are you going to do with the acquired ETH you got from draining the pool?

[lofty knoll]

It needs to go to the liquidity providers

[inner topaz]

The snapshot was taken when we made the announcement. I will have a block number for you soon. We are working as fast as we can I assure you

[crude hollow]

.

[austere musk]

This team is awesome beyond imagination. Just trust 5hem

[final plume]

Yooo Could we not tank the Dextool "community trust" of the old sILV coin? That might stop people from buying, unaware of what is happening

[little oasis]

This team is awesome beyond imagination. Just trust 5hem
@austere musk i do. Not selling at all atm. Im gathering more usd expecting the dip to buy more

[placid edge]

kieran thank you very much for your words that give us confidence that everyone can go to sleep with peace of mind

[grand yew]

I still haven’t received my water Buffalo NFT 😭😭

[worn eagle]

This is simply not correct !!!

[sharp pebble]

Do you have an approximate number of how many sILV was minted through the vulnerability?

[ruby arch]

Bro we need more FUD, how are we going to get a price drop with such kind messages

[merry mountain]

So many deleted messages 😂😂

[merry sundial]

Thx Aaron and Kieran for keeping us updated! All the people working in the background are included of course! If possible I am now even more confident this project will be a huge success 🙂 ! I own sILV and I am sure you will handle this in the best way possible. This backing the project 100% is what will make it successful 👍🏻 👍🏻 👍🏻

[solar rose]

Agree i like to buy my ILV cheap 🙂

[craggy patio]

I may have to buy this juicy dip

[broken falcon]

Just checked sILV price, lost my SHIT, came running back here. Read everything relevant. Now Relieved.

[wooden burrow]

I believe I've got this correct, the hacker minted around 2k~ sILV, so the plan for sILV 2 is to just not allocate 2k of it to Kieran, functionality replicating the circulation minus the 2k the hacker minted?

[mellow lily]

cheers mate. Regardless of whether I get a reimbursement, I have to agree with the previous comments that getting through hard times like this is really what makes an eternal community. Keep up the good work team!

[haughty osprey]

as someone who put my whole savings into silv(12k), and doesnt understand the intricacies of what has occurred. im just sittin here with my butthole puckered waiting to learn my financial fate 😆 . potentially lookin at the biggest L of my life

[cedar sparrow]

Same I am loosing my ming just now

[digital rock]

Think we should be ok mate

[rich terrace]

As long as you didn't put those savings in after the announcement. You'll be totally fine.

[uncut elm]

I think a lot more than 2k was minted, justnot sold yet

[zenith bridge]

Same, I think it's near impossible to not have a negative price reaction after a "negative" event. But I celebrate it!! I've been itching to get more ILV and have been buying like mad at 1k.. I'm going soooo ham after this

[weak harness]

Sorry if I misinterpreted the interview, and thank you for clarifying the situation.

[inner topaz]

They liquidated around 1.5K from roughly 7-8K that was minted (then we pulled the liquidity), but I don't have the exact numbers yet

[mystic yew]

what was actually the issue?

[proud wing]

I just read through everything from the last 2 hours. It may seem like a shit show now, but true props to the founders and their team for what they are doing to solve the issue. Makes me think this project will be staying around for a long time

[lofty knoll]

Minted around 10k and sold around 4k before the team

3k or 4k

3 or 4 transactions, i'll check again

[zenith storm]

Don't know it was just "a vulnerability with the contract"

[leaden isle]

Tx Hash around 20:25. Somebody sold 100M silv

Look on https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[sage falcon]

a second christmas forthcoming..

[inner topaz]

I have been through enough hacks, I'm just glad I also dumped my life savings into ILV and have enough sILV to cover it. Although my mega city probably won't be happening now 😅

[warm socket]

Wen illuvium-city?

[reef shale]

Can we buy silv now or should we wait?

[craggy patio]

I’m praying it dips more so I can buy more lol

[minor delta]

Don't worry, they'll name mega cities after you 😎

[wooden burrow]

Whatever you do, don't buy or sell sILV now

[lethal fog]

Thanks for the info provided so far. Just out of interest, what happens to the people who bought a lot of sILV for pennies after the 'liquidity pull' happened, but before the announcement was made? There were a few mins between the two and some people managed to buy huge amounts of sILV for 99%+ discounts

[hollow shell]

so the attacker will be airdropped his unsold amount of 6-7K in new siLVs?

[royal saffron]

dont buy silv are you crazy

[lofty knoll]

Nope. His addresses will be removed.

[glossy sage]

What will be the starting price of SiLv2? 🤔

[uneven cedar]

Isnt v2 sILV a terrible name? Take this opportunity to give it a propper name!

[austere musk]

Probably quite low for the start

[sage falcon]

It'll be up to whoever seeds the first pool with the new sILV token.

[zenith bridge]

https://tenor.com/view/going-to-hell-lil-nas-x-montero-call-me-by-your-name-falling-to-hell-gif-21212396

[weak harness]

Call it shILV

[plain delta]

I agree. I've got some ideas.

[buoyant hinge]

Please you do something $ilv price , I'm so lose at1500 😑😭 price so drop for long time

[fallen seal]

problem is...who will seed the liquidity for the second pool? we need another hacker

[lapis crag]

Talking about birds and phoenixes, I gotta support this idea

[sharp pebble]

So then there are still 6.5k ish sILV out there on attacker accounts that could still be used on the second hand market later or in game. Unless you are able to stop those accounts and if they transfer them to other accounts also those accounts from swapping their sILV to V2 sILV also?

[final plume]

Illuvimoon

[inner topaz]

That isn't the official name. I just can't think creatively right now. so V2 sILV works

[nova nebula]

how can we buy sILV now?

[runic prawn]

after restore can se buy sILV again?

[worn eagle]

Well well well was on my phone at the restaurant bought for 12 eth of sILV around 30 min ago and now this ....

[humble bison]

For People that already own sILV our Wallet is not in trouble correct?

[keen estuary]

Not sure if this was asked, but is there a way to know if the hacker sold sILV before? i.e. we know it is ~1.5K and not more over a longer period of time?

[uncut elm]

Were they minting as part of a legitimate stake they held? Hopefully you have a way to rek their staking accounts?

[ancient swallow]

ill wait till full disclosure of investigation and see what the leasons learned will be

[dusty plank]

Inb4 Ramphybux

[lofty knoll]

No

Copy of the pool

[cedar sparrow]

The heck bought 11k worth last week and now this

[digital rock]

Ouch

[warped citrus]

Maybe an official sILV pool will be setup next time

[reef shale]

Thanks for the hard work boss

[royal saffron]

you're fine.

[gray cipher]

There goes a fortune

[elfin sparrow]

I purchased sILV off the open market months ago, after reading discussions in here (including from team members stating that it was not an official pool but it was the legitimate token). Can I still use this in the land sale?

[smoky obsidian]

we are fine, they will sort out everyone that had sILV before what happen, let s chill

[woeful vortex]

I’m curious about the same. I got my sILV from uniswap

[brittle shuttle]

you will need to claim a new v2 sILV, but yes. No problemo.

[sage falcon]

Illuvibucks 🤣

[inner topaz]

If you had it in your wallet, then yes (prior to the announcement)

[uneven bronze]

In metamask is okay?

[final plume]

That was the secret Santa gift I think

[lofty knoll]

Yes

[fallen seal]

what will happen to the drained liquidity from the team?

[inner topaz]

We are still doing analysis. An official announcement with post mortem will be out as soon as we can

[fierce ivy]

Sorry because I know this has been answered before so if someone could direct me to that message - why does the team need to reimburse from their own pocket exactly and not airdrop new V2 sILV to holders?

[humble wave]

I have not even opened my wallet for 2 days 😄

[dusk bronze]

Guys, how can we check if we are within the snapshot that is taken or not?

[humble wave]

you can see tthe time in your TX if it was before the announcement, you are fine

[inner topaz]

Look at the announcement time

[night agate]

can someone answer me how will looks like next steps? there is a lot off messages, hard to read it all. there will be new token and all people will be airdroped? there was a lot holders, so it can be rly hard to do

[sage falcon]

I wanna thank the whole team this day to help everyone quickly understand the situation. Blockchain games are new for anyone and things like this happen and everyone will learn from this and i am very thankful that they help the holders. Maybe an updated announcement with a FAQ would help to make the discord chill.

[craggy patio]

By praying

[humble bison]

Nooo haha this is terrible 😂

[naive marsh]

LP providers are stuck with 1.0SILV, team took 60% of the eth in the pool and the exploiters took 40%. If the team wanted to fully reimburse the LP providers it has to come from some where. This is from my knowledge.

[smoky obsidian]

thank you guys @inner topaz @plain delta , we all trust you and know you ll do what needs to be done. goood luck on sorting the situation out. NOW everyone else leave them in peace for a bit, they have other things more important to do than answering us today

[sharp pebble]

Problem is if there are people out there that did not see this message until just recently and bought after the announcement. Are they completely screwed?

[worn eagle]

I have to say that I would never have thought that there would be a scam with Illivium sILV pool.... It's just not fair that buying even after the announcement isn't covered .... I'm just loosing more than 30k now. There were messages every single week on the potential scams and I never never saw anything on the sILV pool .... And now we had to look up this single announcement ... I wasn't home, couldn't check discord since I only have it on my computer .... I have vested 58 LP ILV-ETH and have 32 ILV, I believe in this project since the beginning ... I really feel so bad right now ... All my earnings are just gone if I loose this money ...

[sage falcon]

so is it possible for people to still be buying SILV?

[hardy gust]

@inner topaz ETA on new token + pool? Still feel sick to my stomach...

[sage falcon]

Don't buy or sell just hold for now

[molten fern]

No. Don't buy or sell anymore. You'll be screwed

[glossy crescent]

Everyone could unfortunately claim that they never saw any announcements even if they did and bought anyway. So everyone should be screwed

[hot creek]

Can anyone explain how this works? Kind of confused

[fierce ivy]

Oh so the reimbursement refers to the Liquidity Providers and not sILV holders in general.

[sage falcon]

So you bought the token after it had dropped down to less than $1? That didnt raise any red flags in your mind?

[alpine trout]

you guys dropped the bomb at min. 25 for me and at min 29. posted the anouncement. There is a whole lot that happend in that timeframe i think thats why people ask the time of snapshot 😄

[pseudo steeple]

https://etherscan.io/tx/0xa5f0769e85fa040954339c3982ba2f117caad5f64cb2f0365a483d364a28a3e9 @inner topaz @plain delta what is the plan for 117 eth resqued?

[royal saffron]

wdym? slp and ilv is not affected. all silv will be reimbursed pre-snap shot. If you bought silv after the 99.9% dip them only those are lost

[sterile fjord]

Can someone explain how the team can drain liquidity if it's not their pool? Did they own the liquidity tokens?

[worn eagle]

Well just look up Cryptomines who dropped from 880 $ to 1 $ in one day then went back up to 133 $ the day after it ... everything is possible in the crypto world. I actually bought 30 min ago at 62 $ so nothing strange for me .... I just bought for a lot of money ....

[karmic current]

minting tokens

[sharp pebble]

Wait so there is an exploit in Uniswap's sILV/ETH pool also? I don't get it. How was the pool drained?

Illuvium needs to buy up all the minted sILV tokens from that pool. Take the hit in ETH. Because not everyone has seen the message and thinks they just makde the deal of their life buying these sILV on the open market.

[haughty osprey]

to be honest im not panicking right now because if all the silv holder get rugged and screwed, the whole illuvium project would have a dark cloud over it and be hated. they got too much man power and money riding on this thing to let us get screwed.

[quiet prawn]

they did not drain, they drowned it by flooding it with newly minted silv

[spring socket]

Can someone just confirm if we hold silv on our trust wallet we will get new ones please?,

[lofty knoll]

Yes. If they were there before the snapshot.

[pseudo steeple]

this is funny. from 400 ILV staked to 1080 sILV in 40 days. this guy must be a superhero. https://etherscan.io/address/0x0077dff1347006287dc6396074d5fa48c0e644c7#tokentxns

[tough oxide]

man the sILV memes are on fire

[dense grove]

Yup, that's about how I felt, but reading what Kieran wrote makes me want to kiss him. He didn't have to save our butts but I am super thankful he is going to.LOL
Actually, it makes me more sure than ever that this is the project I want my money in.

[wintry palm]

so silv i bought previously in the pool thats in my metmask wallet will be reinbursed after snapshot correct ?

[leaden dirge]

Can the server please address the other hack? Are we forgetting about it and just pushing it aside?

[keen estuary]

Why we gotta bring Lebanon into this ... we all know we broke enough already there ...

[glossy sage]

Where are they? Wanna watch 👀

[night agate]

can someone answer me how will looks like next steps? there is a lot off messages, hard to read it all. there will be new token and all people will be airdroped? there was a lot holders, so it can be rly hard to do

[sage falcon]

Aww dude thats rough im sorry. But as you said, everything is possible in the crypto world, including hacks.

[jovial pasture]

Lol

[sharp pebble]

So the issue is the Uniswap LP providers I guess. Not the people with sILV?

sILV is still sILV. But the people that provided liquidity with an sILV-ETH pair to the Uniswap pool. They are in trouble?

[lofty knoll]

@analog shadow Scam. #🚨❗〕report-scammers

[weak harness]

Anyone know how to link Ethereum transactions to the Ronin chain?

I was trying to track the big sellers yesterday, but once they send it to Ronin wallet, I couldn't track it further as I couldn't match the Ronin Block transaction to the Ethereum block transaction.

So if anyone knows how to do this, would appreciate the info.
Thanks

[tough nacelle]

so do we need to hang on to the sILV V1 for the future swap or can we get it out of our main wallets now that snapshot is over?

[green carbon]

Lol just gives me the same feeling as I'd get seeing silv for sale under a hundred bucks, having that guy offer me 10k rolex for a hundred bucks.

[lofty knoll]

Dont touch it.

[royal saffron]

keep it. If you sell now you would be basically stealing eth from unsuspecting community members

[spring socket]

Thank you so we just leave old as is for now? 👍 thank you for helping team and sorry for this..

[sage falcon]

It's why I sent feedback in #814313819185741845 . Many aren't in discord and won't know. 👍

[lofty knoll]

DO no sell or move your sILV

[vagrant inlet]

Hey fellas, anyone want to buy some cheap SILV?

[glossy kettle]

So only the sILV which were bought from uniswap were affected? I currently only have some sILV from staking rewards

[lofty knoll]

Otherwise you might not be reimbursed

[potent radish]

Me!!

[tacit phoenix]

Meanwhile in Grant's world everything is smothy 👀 new leaks!

[fossil ridge]

So that was my balance

[lofty knoll]

You are fine.

[slow spade]

but if we bought silv on uniswap like weeks ago, we are safe right?

[lofty knoll]

You are fine.

[lofty knoll]

You are fine.

[woven geyser]

I really hope they consider the snap shot to be at least a half hour or more before their announcement.. some people sold at a loss before the announcement..

[charred hinge]

I had 16 silv that i bought a week ago.....just saw the announcement....what is going on.....getting afraid.....😯.....anyone help pls

[worn eagle]

I just have to say that it's really not fair to not reimburse people who bought after the announcement .... It's just not fair ... Illuvium team never made any person aware of the risks of this liquidity pool .... When I saw the price at 60

[cinder wagon]

You didnt own any ILV?

[remote cedar]

was?

[lofty knoll]

You are fine.

[sage falcon]

Will there be another audit or thorough going through of the contracts after this? Different auditing company perhaps 😄

[fast carbon]

Wow

[night agate]

can someone answer me how will looks like next steps? there is a lot off messages, hard to read it all. there will be new token and all people will be airdroped? there was a lot holders, so it can be rly hard to do

[lofty knoll]

That was their decision.

[sterile fjord]

The snapshot is fine, but I don't understand why rugpull the LP, what's the difference if people can trade the older coin. You're just screwing people over that bought after

[last flame]

hey guys can i buy land without having ilv

[lofty knoll]

Not hard, just takes time. And yes a new token will be created.

[zenith bridge]

I didn't buy any sILV before becuase the price was too speculative.. once the sILV bug gets fixed however i can apeeeeee I will. Thank ya Jesus!!!! ❤️ 🙏 Oppurtunity of a life time.

[stray osprey]

did I lose my sILV?

[lofty knoll]

Prevent the exploiter from selling,.

[rose patrol]

Thank you to the team for letting us know. I appreciate you’re on top of it. Good luck with the fix!!

[lofty knoll]

No.

[slate tinsel]

you made a bad trade.. you dont get a refund from binance when mass liquidations happen

[haughty flax]

what site is this

[fallen seal]

how much silv there was in the pool?

[sharp pebble]

The reason it is important not to sell or move you sILV at this point I think is that they have isolated the accounts that has the stolen/minted sILV through the exploit. With the snapshot. By reimbursing everyone except the attackers accounts with ex. V2 sILV they can isolate those stolen sILV. (I think) Sounds reasonable?

[lean sigil]

is it to early to ask how much was stolen or what the team lost ?

[gloomy breach]

If u panic sold after exploit are u in trouble @lofty knoll

[green carbon]

Yes land was meant to be bought with Eth.
sILV was just an available option for people to buy with staking rewards instead of spending out of pocket.

[lofty knoll]

Yes and they wont reinburse people trading after the announcement.

[tough nacelle]

I saw the massive dip and first instinct was to buy more... but with a dip that big I had to at least come check the discord. I know not everyone is going to do that but you really should think twice before buying a dip like that. this is a tough situation

[dense dome]

Did I lose mine ?? I bought cause it was trending on Dextools and was in a dip then I read this and am concerned about my investment. Will I get mine back sir ?

[sage falcon]

It wouldnt be fair to reimburse some people when others saw the price as sub $1 and chose not to buy because they could tell something was wrong.
Othewise we are just rewarding people for making mistakes.

[lofty knoll]

You might

Cause you dumped on your peers trying to buy

[pseudo steeple]

what do you mean by this? snapshot is done.

[round burrow]

I thought "We do not take responsibility for those that buy after the snapshot. Do not buy into the pool." is as clear as it gets

[chrome scaffold]

The characters look absolutely amazing

[lofty knoll]

So you cant have free new tokens + the eth you got from poor folks

[little flax]

The crypto side of the industry can be so fucked but the team has to push through

[hazy jasper]

Hello I am just about to convert my rewards into sILV to prepare for land sale then I saw the msg about the bug. Help. How will I buy the land if I cannot claim rewards into sILV?

[low rivet]

hi

[exotic nexus]

What are our options if we purchased after announcement. Saw price dip and bought. Then see all this.

[lofty knoll]

#💬〕general message

[tidal yew]

it will unlock before land, read announcements

[magic slate]

Grant still doing Grant things... Love it!

[zenith fable]

On the flip side, it's going to be fucked when we can offer 50 million+ prize pools due to crypto 😎

[lofty knoll]

You will be able to before the sale.

[cinder wagon]

They said 5 minute time-out for everyone! 😂 (correct decision to resuce panic but still)

No juice boxes for any of ya'll!

@aloncrpto i had the same thought.

[royal saffron]

Thats some juicy leaks tho, amarite bois

[brittle shuttle]

you saw it drop 90% and you bought. Don't you researched why it dropped so much? Next time DYOR before gambling in something dropping 90%

[tropic moss]

am i screwed, i bought not knowing what the heck was happening in here

[tropic otter]

Illuvium devs are the best and so is this community , stay strong this hardship will pass

[final plume]

@lofty knoll was that the secret santa gift

[lofty knoll]

Probably

[floral lodge]

Same. I saw the dip and bought. I would have at least like to get money back for people that aren't on discord

[lofty knoll]

No

[gray pendant]

How much is enough to get started

[reef shale]

I bought silv yesterday afternoon and now it started

[lofty knoll]

You are fine.

[glossy sage]

When is SILV2 popping though? Might go all in if it starts low again 😜

[worn eagle]

I will tell you what would be fair .... at least pay back the people at the rate they paid .... I bought for 9 ETH of sILV at around 60 $, I would be glad to just get back my money .... Also don't say "It dropped 90 % you should have known .... Cryptomines dropped from 800 to 1$ and wasn't a scam ...." Here it's clearly a scam and Illuvium team should have warn people about it .... I have seen no announcement since the beginning about the risks of the sILV liquidity pool ......

[urban fog]

So assuming original sILV will be disabled for the land sale? Only the sILV v2 will be able to be used

[wise thicket]

what is going on with SILV prive rn?

[little flax]

Do not buy Silv and please have patience as Aaron and Kieran look into it.
Both my brothers have barely slept since new years dealing with this hack bullshit but we will try and solve as much as possible, as always

[proper fable]

i sure hope that snapshot includes us that purchased on uniswap before this happened!

[sterile fjord]

Dude, ILV basically sold into the pool instead. The hacker won't be able to get v2 coins, there's no difference but screwing people that bought after. Instead of the hacker draining the funds, you guys did. You guys are now holding liquidity that people who bought after need, and aren't going to send them v2 tokens either. You should have just let the coins trade and sent v2 tokens to the snapshot. There was no need to rugpull the LP, projects don't do that when an exploit happens, they just take a snapshot. Your job isn't to interfere with decentralized pools by minting tokens, it's to fix the exploit and airdrop v2 tokens to a snapshot of people. BY messing with LP pools, you mess with everyone that is trading on an open market and expecting them to read a discord, which isn't good. You guys should have let the pool trade and just done the snapshot

[gloomy breach]

Yes. Back when SAFE got infinite mint exploited, they took snapshot, all that bought after were RIP, all that sold after got free money. I'll not risk, but IMO some people may have panic sold.

[fast carbon]

$15

[hollow shuttle]

Saw the dip, saw the news, and didn't buy any sILV thankfully. But when will we know when it's safe to purchase sILV again?

[lofty knoll]

Thats how a snapshot works.

[hallow vector]

Whenever they create the new contract

[tough nacelle]

I haven't been in the Illuvium Community for super long but based on everything I've seen so far I think this will be but a small speed bump. I mean look at the PAID Network... an even worst attack occurred to them, they have less of an impressive ecosystem & product than Illuvium yet the PAID Network & Ignition Launchpad have recovered. Illuvium will recover

[haughty osprey]

you gotta be a knucklehead to see a coin go from 550 to 30 bucks instantly, and go aping in without checking the happenings. u guys are nutballs

[dense dome]

What time was the snap shot

[fallen seal]

they did the right choice...now they have eth to seed liquity

[lofty knoll]

Does it looks like my decision ? What is done is done

[wide coral]

For real...

[twin turret]

So many people have saw a nice discount and have bought. I am not talking about 1 dollar price. that's too weird, yes. but what about 250? This is non sense ... a lot of people will lose money for buying the dip

[sharp pebble]

If you did it before the announcement. Very lucky nutball.

[lofty knoll]

The difference is that the team has the ETH now, not the exploiter. So they can reimburse.

[worthy ermine]

The real question is now: do we get a POAP?

[pseudo steeple]

#💬〕general message

[tropic moss]

pls spare me!!

[river violet]

I'm sure they will announce when it's safe again. Then they will announce the next SC vulnerability about 2 days later 🙃

[lofty knoll]

Go and sell now if you want, you might not get your refund.

We said it

DO what you want with it.

[graceful valley]

can i buy the ILV token. Or is ILV hacked too?

[sage falcon]

Guys calling people knuckleheads and. Silly things in time. Of panic doesn't help, let's respect each other 🙏

[lofty knoll]

ILV is fine

[proper fable]

okay good, because they mentioned in their posted to make sure the silv staked holders didnt lose anything, nothing about holders that arent staked. i bought mine on the 31st

[final plume]

wen land

[forest galleon]

I buy $10k silv yesterday and loss all now?

[long bough]

How will they refund me???

[sage falcon]

With silv2

[royal saffron]

you are fine

[tough nacelle]

I still want my Illuvitar and my land and I'm still Hyped to catch Generation 1 Illuvials.. this Game will be so epic.

[dense dome]

Can I even try to sell ?

[remote cedar]

they will look at the snapshot and airdrop new token

[lofty knoll]

You are fine

[lofty knoll]

No.

[bright gate]

Wtf

[shut pond]

What will the price be for Silv2 ?

[lofty knoll]

1 ILV

As it always was

You wont get free money.

[glossy sage]

So 1000+ starting price? 👀

[worthy ermine]

hey wait... shouldn't sILV be #3 market cap crypto by now?
100m coins at $150 or something...

[lofty knoll]

Absolutely not. People will do what people want on an non official pool tho.

[sterile fjord]

There is a large portion of people that bought in after the snapshot, and the ILV team is holding the liquidity needed to sell. You're pointing out that they can reimburse, but they are only going to send v2 tokens to the people before. Everyone trading on the open market after the fact, are now rug pulled by the ILV team with no chance to sell or get v2 tokens. It's not good to interfere with decentralized pools by minting your own token and draining the ETH, if you're not going to give people that bought on the market a chance to sell.

[pseudo steeple]

not *we. only you. its like selling hundreds k of dollars for penny atm. please do not mislead the community. the only reason ppl selling right now because they are secured to be refunded according to claim about snapshot few hours ago. do not invent new rules. btw i still have 0 clue about silv/weth seed poolers. i was subjected to over 110k loss. excluding amount of sIlv that i hold for months.

[tropic moss]

i bought w/o knowing man pls halp

[lofty knoll]

You shouldnt have bought in after the nuke. This is not the team's responsibility and they cant control it.

[worn eagle]

This is just wrong ... I feel so screwed ....

[brittle shuttle]

Those ETH belong first to the people providing liquidity in Uniswap

[sharp pebble]

People are still trying to use the Uniswap contract. All transactions pending.

So there was an exploit in the Uniswap contract also? Or what am I missing here?

https://etherscan.io/address/0xdef1c0ded9bec7f1a1670819833240f027b25eff

[smoky obsidian]

EVERYONE CHILL 🙂 the Admin will handle the situation perfectly, wait and see the next announcement, stop asking them question, they have ( i think for everyone) better things to do right now 🙂

[weak harness]

I don't think they are saying that.

ILV team have only ever been fair, and Kieran himself said he will put his own money in as needed.

So I think it is important to just relax, and wait to see the fix.

No point in accusing and FUD now, you just going to stress yourself.

Chillax and wait, the fundamentals of the project have not changed

[lofty knoll]

Its not new rule, people selling their token will no get free money.

[proper fable]

i appreciate the reassurance

[lofty knoll]

#💬〕general message

[round fulcrum]

Transactions are logged on blockchains I think we will all be fine its just harder to sort it out after for them if people keep buying after I guess

[eager karma]

Still don't understand what was exploited... Was the Uniswap pool contract or was the sILV token contract?

[buoyant imp]

Who are you? Are you with the illuvium team

[final plume]

@sterile fjord I bet you hate the 5minutes cooldown

[sacred zodiac]

where can we see snapshot
I bought twice 10 min before post and the same min as post went

[lofty knoll]

Eth gonna be used to refund LPs probably. Not my decision. Wait for announcement.

[royal saffron]

if 7 hrs ago you are fine

[viral prawn]

Some body got illuvium give way?

[rough hamlet]

ok I need $sILV GO UP. I cant take this anymore. every day I am checking price and its down. every day, check price, low price. I cant take this anymore, I have over invested, by a lot. it is what it is. but I need price to GO UP ALREADY. can devs DO SOMETHING?

[boreal barn]

I bought like 6 months ago am I chill

[humble trail]

https://discordapp.com/channels/760344898200666112/791148476218081321/928029849136824381

[sterile fjord]

They control whether they are exploited in the first place and how they handled it. If they let the open market handle it, then there would've been more chances for market participants to sell etc, but they chose to use their ability to mint their own coins to punish people buying on the free market. If you think buying a dip on an open market should be punished, you're wrong. People will see this as a centralized move that hurt market participants

[tough oxide]

will silv recover or its over ?

[lofty knoll]

Buying a ... "dip"

The dip was instant 0$

Be realistic

[sage falcon]

I think its just you that sees it that way. They protected the majority of holders with their action.

[sage falcon]

Also, it wasn’t a dip. It was fraud

[cinder wagon]

To be fair, I see it at 36$.

[green carbon]

If you had your sILV before this, it will be fine. Only gonna lose if you bought after they posted about it and said not to buy any more.

[lofty knoll]

Low of the dip : 0.000038$

[craggy patio]

To everyone asking don’t buy this obviously

[strange yacht]

I’m sure they will compensate all holders before the announcement but after most likely not.
I bought Vulcan’s Forged after hack and was only compensated for the tokens I bought before

[merry mountain]

They definitely made the right decision, either way they have to choose which boat to keep afloat and choosing the bigger crowd was the right choice

[wary spoke]

@forest galleon your loss was a bit much

[dapper basin]

Hey guys
I’ve just been following the news. Can someone explain to me what’s going on please?

I checked my Core Pool and I still have my pool there. Does that mean my funds are safe?

[thorn plover]

You need an old priest and a young priest...

Maybe a sacrificial goat?

Godspeed ser

[lofty knoll]

Funds are safu check pinned.

[sacred zodiac]

can someone answer this ?

[sage falcon]

if you tried to buy a +90% flashcrash on an unofficial pool not supported by the team and didnt bother to look if anything had happened, you really don't deserve jack. you took a massive gamble and failed, you would not be here if you had won..you'd be dumping on others' heads for a quick flip. deal with your losses like a man ffs.

[lofty knoll]

Sorry but the argument just doesnt stand. You see a candle going to 0 on whatever your time scale on your chart and you decide to buy that token?

[haughty flax]

I bought in the first dip because I thought it was somehow normal, and that was 20 minutes before the announcement

[remote cedar]

From $400 it went to 0 in that minute

[rancid adder]

You're good

[lofty knoll]

Well you should be good then

You got cheap tokens

[round fulcrum]

I guess ill save on fees if I am handed v2 silv directly

[warped plinth]

the crypto market is free. the crypto market must be free

[forest galleon]

Yes…. I hold usdt for more than 3 month and only bought $10k silv yesterday for land sale. Hope it won’t affect my plan to buy t3 land…… I am so upset now😭

[charred hinge]

Thank you for the confirmation

[south hatch]

Based reply

[crimson matrix]

dw youre good

[wispy kindle]

You bought yesterday. You will be fine

[sterile fjord]

They are trying to blame the fact that they got exploited on the fact that there existed a place to sell the coins on the open market, and chose to rug pull themselves, so they could snapshot previous holders and refund some funds. Basic matter of fact is the ILV team had a bad contract that got exploited and there's nothing out of the ordinary of having liquidity on Uniswap. It isn't relevant that the pool was "unofficial". It's a decentralized exchange, and that has nothing to do with the fact that someone could mint a bunch of fake tokens. They need to stop blaming the liquidity pool and focus on the fact that their contract was exploited.

[fallen seal]

so if the lp was of the hackers we can say we stole funds from the hacker?

[wary spoke]

No it won’t affect you

[mossy hearth]

So should I not buy the dip on sILV???? What is going on hha

[twin turret]

it was not instant zero. I have bought silv about 200 usd price , and now I see it has been about 40 min after the announcement. at the time , it was a dip. even when in reality it wasn't.

[brazen spruce]

When does the fancy bird mint ?

[eager karma]

But what was exploited, wasn't the sILV token contract? The attacker printed sILV and then tried to dump it on the open market. Or wasn't that?

[thorn plover]

If there's a massive flash crash like that who wouldn't check discord for potential exploit?

Crypto is the land of scams my dude....
🤷‍♂️

[lofty knoll]

It went back up cause people like you decided it would be a good idea to buy a dead token.

[royal saffron]

what... they are no blaming anything. literally find a single message. They are admiting their contract got exploited. They took fast action to save the remaining eth from the LP. They are going to reimburse all people who held silv OUT OF THEIR OWN POCKET. literally, what.the.fuck.is.wrong.with.you

[dusk bronze]

Guys, us that are after snapshot, do you suggest us to swap back on what is left on that pull?

[slate falcon]

So dont buy SILV rn?

[lofty knoll]

Dont

Also for everyone saying its a dip

[wispy kindle]

No, don't buy

[rancid adder]

They never said that

[normal python]

This a bad time to ask wen airdrop? OK I'll keep quiet 😬

[dapper basin]

So is our funds safe?

[buoyant hinge]

I never buy silv , someone please suggest me can i buy it? Or i wait for silv official and buy ?

[lofty knoll]

You dont go and buy a -99.73% "dip"

[lofty knoll]

Dont buy

[lofty knoll]

Yes

[twin turret]

You simply can't imagine someone not knowing about the hack :)) dude, there are people who literally did not know it's dead

[wary spoke]

@forest galleon are you there since you bought yesterday. The messages are slow dm

[final plume]

"yooo imma buy that 0.03$ lambo! Looks legit!"

[formal delta]

and you didnt think to check and see why it dropped to almost 0 earlier today?

[coral glacier]

Why did the announcement say yesterday that no funds were compromised when there was an attacker printing unlimited sILV?

[red geyser]

Their statements don’t blame the pool. They state that they didn’t have control of the pool. There was clearly a need to do something to address the fact that too much sILV was being minted due to the exploit. They knew the sILV token is not going to be usable. So they made a clear and decisive action to stop people from buying sILV. They did what they could in a pool they didn’t create, control, or manage.

[brazen spruce]

When are there next NFT's minting ?

[lofty knoll]

People just ape and they will learn a valuable lesson, what do you want me to say?

That was not a good trade

[alpine trout]

Man Rahlord dont ur fingers hurt from typing at this point 🤣 ive seen you answer the same questions over and over for the past hour... You aminal 😄

[pseudo steeple]

totally agree.

[lofty knoll]

#💬〕general message

[sacred zodiac]

who is getting reimbursed what time snapshot was taken.

[crimson matrix]

yes props to rahlord for taking the fears from the people, real mvp

[dense dome]

What time was snapshot taken

[worthy ermine]

maybe the attacker got aware of the problem due to the announcement and found another weakness like ~15 hours later?

[lofty knoll]

Announcement will come with details stay tuned

[fossil ridge]

So I bought at 200, and after the announcement, since I was not in my PC, did not see it.. should i sell at least at 40 , its better than 0

[green carbon]

Really, if you are going to invest any substantial amount of money into a project that has discord, you set your notification to ping you when they post in the official announcement channel at the very least. Pleading ignorance is not a valid excuse. DYOR and stay on top of things if you intend to put $$ into it.

[red geyser]

So you were one of the 16?

[lofty knoll]

They probably didnt know at that point and found the same exploit the exploiter did a month ago.

[humble trail]

one of the 16? You mean only 16 people got scammed back then? (can't type more than 1s every 5 min lol)

[tough knoll]

Team posted everything is under control yesterday now people lost funds

[red geyser]

The jobs channel bot scam.

[lofty knoll]

Who lost funds?

[buoyant hinge]

Will launch silv official ? can i buy official silv ?

[red geyser]

No funds lost. They just made bad swaps.

[lofty knoll]

Exactly.

[lofty knoll]

No.

[toxic osprey]

what about the liquidity providers?

[red geyser]

Correct. Only 16 wallets interacted with the scam.

[sterile fjord]

exactly \

[warm gust]

Rah question for the LPs. They (and by they I mean me as well) had SILV in the contract along with Eth. About 336 Eth was drained from the LP by the hackers. Is the plan to account for that or is the announcement going to be Silv specific?

[unkempt swan]

nobody knows who is in snapshot instead of posting messages for hours why dont you release block number of snapshot

[tired loom]

ive purchased the silv token today on uniswap around 260 usd, I saw it show up on the hot ticker on dextools, checked out the website after seeing the token had come down about half, (thats nothing in crypto,) about 20 minutes later I join the telegram, and I am just getting into the discord. Do I understand correctly that my 7.5 tokens are worthless and will not be honored? Can someone point me in the direction of some clear info? Or are we all assuming one thing or the next? I just need some help, and I appreciate anyone willing to share a helping hand for someone freaking out a little bit.

[lofty knoll]

Thats the reimbursement yes. The ETH drained by the team will be used for that probably. At this moment I have no official answer so this is my speculation.

[final plume]

Yes you lost all the money of you bought after the announcement

[thorn plover]

Honestly man I think it's probably happened to most of us at some point.

Sucks ass, I'm sorry you got fucked bro.

[red geyser]

I’d imagine getting rid of those newly purchased tokens is the best play. Since they won’t be honored.

[alpine trout]

it crashed form 420 to 0.50 in 2seconds so pls explain to me how you bought at 260?

[dusk bronze]

(Jan-04-2022 09:02:17 PM +UTC). Am I within snapshot frame? will there be any mercy on me? 😁

[woeful vortex]

What do we need to do if we need hot sILV before the announcement?

[wooden trail]

This is a really serious issue, with the amount of Youtube videos telling people to buy sILV so many people will get burned. The snapshot already happened, you won't be able to game this system. The sILV in the pool is as good as dirt.

Greed is something else, people see $30 sILV and they will buy it. The Youtubers here should remove their sILV buying tutorials.

[timid osprey]

At this point we don't know for sure what will happen to tokens bought after the snapshot taken by the Illuvium team. Any tokens bought before that will be reimbursed. I think you need now to sit tight and wait for a formal communication on the #📣〕announcements channel

[thin onyx]

Lol so many people trying to lie into getting free sILV…actually worse than the hackers stealing it

[novel dune]

So should I sell my sILV ?

[meager prism]

What is sILV just buy genuine ILV

[lofty knoll]

It should never have been youtubed tbh

"tHiS iS nFa"

[sage falcon]

Seriously - this is so stressful. I only bought in. I never sold anything. I just wanted to prepare for the land sale and game...

I have over 2K in gas fees due to the multiple swaps I made.

I bought everything on Uniswap except. 12 ETH

This is devastating.

I know ILV is a great company and I'm super excited about this project.

I can't believe I may loose 50K on such a blue chip project just because I tried to buy when the price dipped.
I bought everything after 14:30 EST

Come on ILV help us out please - I know I'm not the only one. There are so many great people here that simply wanted to participate.

It's not common practice to check discord announcements before every trade one makes.

It just looked like a whale sell off in the beginning, liquidity problem or a Flash Crash - which are all completely normal in Crypto.

When things started to go crazy haywire I checked Discord, but it was too late, I'd already bought in... I've been in this discord for months

[inner topaz]

When have we not taken responsibility for that?

[slate tinsel]

shoe on the other foot... were you planning on sharing any of the profits you made with the ILV team after the 'dip' rebounded?

[lofty knoll]

Depends when you bought. Dont move your token and the team will take a look.

[hardy gust]

@inner topaz ETA on new token + pool?

[sage falcon]

"People" will be coming in here asking for reimbursements who are just double scamming too

[final plume]

Omg I cannot agree more. Don't give financial advice and think "NFA" makes it ok

[pseudo steeple]

absolutely depends on your decision. there is not must.

[tired loom]

seriously? Cmon man, you dont have to be a jerk, I am literally asking for info, what do you mean how did I get it for $260, I bought on uniswap https://www.dextools.io/app/ether/pair-explorer/0xa7f72a1ec0ab189998a3eec8b886e6360aff39da

[sterile fjord]

When I came in to read about the exploit, all I could find where you guys saying how the uniswap pool was "unofficial" which really has nothing to do with the fact that you guys got exploited

[unkempt swan]

rahlord saying its not official pool just bad swaps is worst thing and kieran on podcast speculating silv can go up during land sale nfa

[tough oxide]

will sILV recover or its over?

[red geyser]

It should be over. But it’s gonna do what it does.

[sage falcon]

too many people trying to take advantage of the situation by claiming they wasnt on discord.... I can understand that is so sad for people who actually really bought without checking DS but the team will not have any possibility to check that. And if they take in consideration all these people, they have to refund even the trickers and then the whole landsale will be affected...

[lofty knoll]

That one is over.

[runic ruin]

it traded between 0.15$ and 500$ for about 30mins. many people were arbitraging if you didnt check uniswap during this time

[lofty knoll]

Did I say its not official pool?

[worn eagle]

I just bought during the evening way after the announcement that I didn't see .... Bought at 60 $ .... and just happy getting my money back. I feel that it's not fair to tell us "You should have know it's a scam" .... Sorry but this swings happens all the time in the crypto world and I live with it but here it's different ..... I trusted Illuvium on that pool since they never warn anyone on the scams risks .... It's unfair to not pay at least the people back who bought after the announcement

[tough knoll]

People who bought at 200 and 100 and are all lost funds

[blazing shore]

It didn't. It went down to 180€, then 110€ and stayed for a bit. I thought about buying but I'm glad I've check discord before doing it.

[thin onyx]

This is like buying a Gucci t shirt from the guy on the corner shop for $20 then getting upset when it gets a hole in it a few days later and taking it back to a real Gucci store lol

[twin turret]

Like most people here I also have full confidence in the Brothers and their decisions .... let's wait for the announcement

[dense dome]

I bought around 260 also it was still trading after the dump

[red geyser]

Apt. But ice cold

[timid osprey]

I think this will be the hardest part to handle fairly. I'm sure there were people that bought without ill intent, but there are also people buying to try and take advantage of the situation and even worse, even dumping on others. I don't think there is a way to filter bad actors from honest buys since it's pretty subjective 🤷‍♂️ Also if everyone's purchase is honored after the snapshot, where does it end right? Someone that bought multiple times and dumped multiple times would receive sILV V2 wouldn't be fair either. It's a tricky one.

[inner topaz]

Read up a few announcements, we literally had to stop allowing claims due to a vulnerability in our contract. Which we explained, what we didn't realise is that the hacker had already minted a bunch of sILV

[alpine trout]

1 minute candle 420 straight to 0 on my screen lol... @tired loom Its was not ment offensive at all i just wondered when you bought at 260, must have bin after the nuke ?

[sage falcon]

If buying ILV land & assets counts - yes that’s been my intention for months

[final plume]

I hate hackers now more than ever. Look at what they did to this beautiful community

[woven geyser]

It felt like hours for anyone that was actively monitoring the price on uniswap

[unkempt swan]

Squid 2.0

[fossil ridge]

damm this happens just the day I decided to pour 34K on sILV, cant believe my luck

[open tartan]

Why did everyone decide to throw their money into sILV? lol

[dusk bronze]

buying land man

[reef shale]

Incorrect, this is like buying a $20 gucci shirt from an actual gucci store. But actually all the inventory at night was swapped for fake gucci shirts

[lean hearth]

Still trading, apparently...

[sage falcon]

My grandmother did too. She's furious.

[wooden trail]

Pro Tip: If something seems too good to be true, it probably is.

But I don't blame you, it was a DEX after all, an unofficial one at that. Also so many Youtubers are shilling this way of gamifying how you'll buy lands.

I hope the team learns from this, sILV should be just used in-game. For major purchases like land, it should just be ETH.

[tired loom]

Ive never once traded on a 1 minute candle, I remember eth losing 95% on a jacked candle once, its not uncommon for uniswap data to reflect a big bot sniping either. I am not here trying to scam anyone, I bought hoping I caught a lucky knife, sure, but I looked at the website, looked at the concept, clicked on youtube listened to a video while I was reading through the info on the site, went back to uniswap and bought some right then. God save the queen, this is a normal day in crypto for some projects getting slammed by a big bag holder. Sorry I am not smart enough to know there was a exploit while trying to catch a hot token with serious potential... For anyone else that has legitimate info to share, I did just get a message saying I WOULD BE included in the snap shot based on what they were told. So now I am double confused... Can anyone say with certainty what the deal is?

[reef shale]

Yes they will take, your gold

[green carbon]

Nah it has been "unoffical" since the beginning. That means "It might look like a deal, but take it at risk"

[thin onyx]

Not really, was never an official pool. People never heard of “if it seems to good to be true then it usually is” - my thoughts when a coin valued at $1200 is selling for $200 just before its meant to be used at $1200

[mellow lily]

As an IT Product Owner, I understand it's basically impossible to satisfy everyone on almost all decisions; whether it's a DAO vote on new features or resolving issues like this. Riding this issue through will be the same. It's most important though to see that actions are being taken. Now, it's time to take it easy and let the magic happen because it's out of the public's hands 🙂

[dapper basin]

So does this mean that Illuvium as a gaming platform is fraudulent?

[pseudo steeple]

#📣〕announcements message. btw there is nothing about the sellers. I just want to post it here for the history.

i hope that team will make the rightest decision regarding the reimbursement. I am interested in handling sILV Q as fast as possible.

[zenith lark]

Has anyone received a message about a giveway saying it won a prize in btc?

[soft trellis]

Fam you change your price every 20 minutes 🤣

[solid snow]

I hope iluvium will consider to lock silv and unlock it on game launch …. also with out possibility to swap or use before game launch…. even should not be able to purchase land with silv after this situation this will exclude all this bad players trying their chance on cheap silv lol

[little flax]

Scam mate

[sterile fjord]

As of now, the understanding is that you will NOT get any v2 tokens or refund

[unkempt swan]

what does true owner mean what about people traded today
what about who bought before 100M mint swap and during 100M mint swap

[lofty knoll]

#💬〕general message

[normal python]

Just a reminder to stay extra vigilant with regards to scammers attempting to take advantage of this situation. 👀

[fossil ridge]

I did not know it was not an official pool, most of my Silv was bought at 540, before the incident

[timid osprey]

For certainty you gotta wait for an announcement from the team 🙂

[pale sun]

If you bought during falling knife, 90% you wont be part of the snapshot

[proven rain]

I trust the team that they are going to do everything in their power to do the right thing for all holders. Nothing has changed, there is still an incredible 1st of its kind game being developed that is going to change the crypto gaming space forever. Im straight chillin.

[sage falcon]

sILV has been between 200-300 many times in December

That is just buying territory!

[sage falcon]

Man the amount of money you lost changes by thousands every time you post. Thats weird.

[worn eagle]

There is a difference between buying during the falling knife at 1$ and buying like me for 30k at approx. 60 $ .... Sorry to say ...

[winter kestrel]

some investors just buy when the price is right. not a lot have even discord or telegram accounts. twitter maybe.. its a contract situation, not a buyer's fault to buy low...

[signal bear]

Well, I been cool as a cucumber all day, have 100% faith

[smoky obsidian]

everyone know to do you own research.... which means in crypto to have DISCORD / TELEGRAM / TWITTER.... if not you going in blind and will lose money

[queen carbon]

do you need to hold sILV to get airdrop??

[dapper basin]

I’m not sure how to interpret what is going on? Does this mean the entire Illuvium project is a fraud Rug pool?

[tender kernel]

Its not. And in this case its not team's fault either as it was an unofficial pool.

[haughty osprey]

will be if they dont make silv holder whole again😂

[royal saffron]

no, everything is fine

[sour vale]

no your own money is zero you have looted innocent people and the money you got is a scam because it's crypto bro ... hurry up .......ps :- you made me drunk

[warped moon]

oh come on, you have to be joking? how is that apt? there was no fake product bought. the POOL was unofficial. the sILV token purchased was real. and the flaw was in the sILV contract, not the pool contract. how is that the buyers' fault? lmao

[reef shale]

You guys are forgetting all the people who don’t have discords or telegrams. Or those that never check them, noobs. They see silv is currently at $190. So they buy on uniswap, linked to them by coingecko. So many people gonna get burned right now that’s for sure

[tough knoll]

All founders billionaires

[jade solstice]

thats insane so what happens now

[sterile fjord]

If the pool didn't even exist, the exploit would still have happened, and fake tokens would have been minted still. Only question is if they would've been accepted in the land sale

[final plume]

Yes, that is why you gotta read a bit before you invest

[minor delta]

@inner topaz @plain delta FWIW this guy alerted everyone to this attacker which seems like it spooked him and thats why he started dumping. Better he was exposed now vs day of land sale. Should at least thank him or see if he wants to work for you guys. https://twitter.com/fozzydiablo/status/1478432926031306754

Fudzy (@fozzydiablo)

@Dupreeius https://t.co/R0mmFbWlmp
https://t.co/sbSvGqDdjM
https://t.co/Ih9P0bRaGv
https://t.co/DRim5FEIFv
https://t.co/jbLstnMv0f
https://t.co/fuLTILFr7R
https://t.co/2iurnSvxyh
https://t.co/IaTHlA7vKX
https://t.co/rvJIfmmLFy

Twitter · Jan 4, 2022, 6:27 PM

[magic slate]

@inner topaz I hope you also announce what you will do with the ETH that you were able to sequester or secure when you diluted the unofficial sILV pool.

[red geyser]

At this point sILV still being swapped has officially been marked by the team as invalid. It’s a lot like products that get black marked as rejects and then sold as official products on gray markets.

[proven rain]

It would probably do everyone alot of good to go on a walk, and realize this will be an issue forgotten by most a month from now.

[tired loom]

According to the announcement the snapshot had not occurred yet when I go back and look at the time I purchased and the announcement

[tough oxide]

iif u buy now are u part of the snapshot for silv?

[long bough]

After they will drop the new sILV to holders, will they be able to swap it for ILV?

[raw gate]

I bought 1.75 eth at $440 today! That was everything I had, what is going to happen?

[sage falcon]

They could look at etherscan and see that the supply increased 100x in one day. That should raise red flags for anyone doing a sliver of due diligence.

[winter kestrel]

im just saying, stupid or not, announcement vs no announcement, people with their market survival instinct will buy any dip in price especially in crypto...

[modest pelican]

a lot of people throw their entire life savings into a token without looking at a chart for it? assume a dip to almost zero and then slightly back up is a buying opportunity?

sometimes individuals need to take responsibility for decisions made. aping sometimes works but it’s called aping for a reason. if you don’t use your brain you can get burned

[brazen spruce]

when are they releasing there next nft"s

[fossil ridge]

I got 50 Silv at 535, 46 Silv at 195

[thin onyx]

Correct so if you bought in December then you’re all good, they’re gonna sort you out. If you bought today when land sale is in a week or so then its too good to be true and u lost money

[pale sun]

If you bought prior to announcement you are more than likely fine and will be included in the V2 SILV airdrop. If you bought after, need to wait for another announcement as to when the snapshot was taken.

[wooden whale]

Those people are not part of our community or potential players. Only speculators buy a coin without checking into its discord. And they're aware of the risks buying a coin that's lost 90%. Grow up.

[clever fjord]

reminder with video: do not buy sILV anymore: #🎨〕community-content message

[smoky obsidian]

in CRYPTO you need to do your own research.... so if you dont have these.... get them. DISCORD / TELEGRAM / TWITTER , it s simple as that. sometime you learn the hard way.... we all did at one point, we just learn from our error

[tacit frost]

Ok guys so I'm brand new here. I was about to buy ILV. What did I miss?

[hardy gust]

i have 150 silv, any ETA on new contract? @inner topaz

[covert steppe]

ATTENTION SCAM D1Eg0#6465

[vivid trench]

what can we expect now i mean for silv holders, how does the snapshot is going to "save our silv"

[fierce vine]

Take a screen shot with thieir ID and post it in #🚨❗〕report-scammers please

[sacred zodiac]

the whole server turned from game enthusiasts to something else

[red geyser]

Looking at the chart it looks like that would be before the snapshot was taken. So you should be good. Just hold it.

[haughty osprey]

yeah cause its a crisis that happened and its on the team to navigate us thru it

[green carbon]

ILV is fine, only people who bought sILV off the black market within the last few hours are going to have potential losses.

Edit: Black Market = not offically claimed staking reward sILV

[sick elbow]

How much can you sell illuvials?

[proven rain]

Friendly reminder to those who are concerned about people blindly buying the dip without checking discord.... The only people buying sILV off of the uniswap pool almost certainly would have found the contract through disc. Also, there are only 5300 holders of sILV. whereas ILV has many more holders which cant be calculated on CEX's.

[dreamy path]

Insane indeed, following this project for a while but glad I did not invest yet

[wise thicket]

define black market

[long scaffold]

black market haha this guy

[dapper basin]

Bro I’ve been in this space for 4 years and have had over $80,000 fraudulently scammed from me already. And I am following on Discord, Twitter and telegram.

All I’m asking here, for the majority of the community that have already invested, how does Illuvium go from here to repair the damage and claim still to be a legitimate project?

[red geyser]

Something like a token airdrop or a claiming process to get new sILV tokens. Ones that will be accepted by the project.

[sage falcon]

why do you call them bad players if they cn get it cheaper

Everybody wants the freedom of blockchain until they have to take responsibility for their own trades.
If you want to avoid risk go trade on a CEX where someone holds your hand and you are insulated from potentially risky tokens.

[soft trellis]

Simply read up it’s been answered about 40 times

[final plume]

Red flags, red flags everywhere

[warped moon]

I would like to thank the team with the way they have handled the matter so far. the solution is pretty good (airdropping v2 to holders before the snapshot) and it's the best you can do. we can't save/please everyone. all we can do is make announcements on the relevant channels and hope people understand not to buy sILV. don't get me wrong, i'm very appreciative of the communication and answers given so far.

BUT, i think there is a minor flaw in the announcement's wording that should be updated. the announcement insinuates that it is somehow the pool's problem and people shouldn't trade using that pool due to a security flaw. To make the matter more coherent we should update the announcement to say that there is a bug with sILV itself unlocking infinite minting by bad actors, therefore all sILV right now should be considered invalid (of course including the unofficial sILV pool as an unfortunate side effect). phrasing it this way will make matters more clear, will make communication more accurate, and will stress the importance of not buying from that pool anymore

[wooden whale]

I know that there's only 20 people I've noted spreading all the FUD. Some scammers, some trolls, but mostly just ingrates.
Put up or shut up, people. Cleave or Leave.

[tired loom]

Can you confirm when the snap shot happened?

[tacit frost]

Can I still get in on the land sale?

[rustic silo]

when will the land sale be taking place?

[red geyser]

I don’t think anyone outside the team has that yet.

[dense reef]

I cant wait for a youtuber who explains what happened and how it is possible for dummies like me. I understand shit 😄

[sage falcon]

Nobody checks every discord before every buy. That's ridiculous. LP's & Swaps on Uniswap are as trusted as it gets

[smoky obsidian]

80k damn.... you learn the hard way bro ..... just wait on the team, as you know as you have been here 4 years these kind of problem get solve in matter of days, not hours.... so just chill, take a beer, watch the sunset and wait for tomorrow announcment..... as you know this project is legit, if you did not buy when it dropped then you are good..... just chill and really sorry for the 80k lost.....

[woven geyser]

By what officials are unofficially saying, sounds like you may be in the screwed catagory.

[sage falcon]

this is a 1 minute chart, it went from 415 to 0 in the same 1 minute candle. anyone that bought after that (14:25 ET) should have sensed something was off.

[wooden trail]

This is very serious, no one will come out a winner after all is said and done.

LP Pool Providers are screwed, your typical DEX user buying sILV is screwed, bot sILV snipers are screwed, the Youtubers shilling that pool are screwed, the value of your sILV and ILV are screwed.

[cinder wagon]

That's an awful knee jerk reaction.... Like bad bad. I think SongBird dropped like a rock recently. maybe worth a pickup because its low?

[molten niche]

What the hell is this CryptoMore scam?

I feel this site is fake and is demanding money to lift out gifted BTC.

[elder ocean]

I mean for those who bought sILV on uniswap, they can trade it back on Uniswap right? Even after devs are launch "sILV v2"

[reef shale]

Not everyone pulls up the chart when making trades on uniswap dude

[red geyser]

Scam. #🚨❗〕report-scammers with id number

[alpine trout]

Like i said before

[neon palm]

wait so what if i bought on uniswap like 2 weeks ago?

[dapper basin]

Ok thanks for the explanation, yea I’m hoping the project still moves forward and is able to do what’s it’s promised. Had big hopes for this one. 🙏

We shall see 🤷🏻‍♂️

[upbeat wren]

Why are LP providers screwed?

[sage falcon]

Well hopefully they learn from this then. Everyone should since they are the ones responsible for their wallet.

[red geyser]

Should be fine. Hold it.

[worn eagle]

Can any of the founders at least tell us one thing .... I have bought 30 k of that sILV at 60 $ each .... Is there any chance I can get my money back or should I sell straight away ??? I'm tired and don't want to loose it all .... I need to go to sleep and just want to get a little back of what I spend ..... Thank you @plain delta @little flax @inner topaz

[proven rain]

Another useful announcement would be the means by which the 100,000,000 sILV were able to be minted. I know the intention was to salvage liquidity, but i saw multiple people asking about how it was possible per the contract, in the #💰〕token channel. I appreciate the response @plain delta I was not implying foul play, i think tacking it on to the #📣〕announcements would help those who are asking that question.

[robust tulip]

Watch out for Field Marshall MJ#3158 he's trying to scam ppl in dm

[unkempt swan]

as per rahlord you lost all

[light nymph]

If the coin died there is no value there >.>

[red geyser]

If you bought today after the announcement, after it was dumped to 0. You don’t want to hold that. It won’t be usable in the game.

[sage falcon]

why cant we buy after the snap shot? whats the problem if i can get it low now. unless they change the token completely?

[zenith fable]

#💬〕general message

last paragraph

[fossil ridge]

I been in Crypto a long time, about 6 years ago, ETH dropped to 1.50 from 680 dollars, everyone got stopped out, Coinbase latter on issued a refund, those who bought at 1.50 made huge gains...

[warped moon]

sell right away. salvage what you can. the team has confirmed that the snapshot was already taken at the time of the announcement. if you bought after that you will NOT get sILV v2. just dump and take the loss. only people with sILV before the announcement will get anything.

[plain delta]

We have always had this ability. It is written into the contracts and known before hand. It requires a ton of people to enact it though. Across different time zones.

[red geyser]

They used the multisig. One of the brothers said that at some point.

[hardy spear]

I bought some sILV this morning, so about 18 hours ago, I should be still fine with my bought sILV right?

[modest pelican]

there is personal responsibility involved. have not a lot sympathy for plowing a ton of savings into a token that is absurdly cheap in historic terms, and then not look at a chart to see why

this argument keeps coming up and its more absurd every time I hear it

[twin turret]

The problem is that we have tons of gamers here , and some are very high IQ but also possibly on the specterum .. they can't really imagine how for a lot of people it was just another dip to buy ... but I guess, the best teachers in crypto are the scammers !

[dense reef]

Guys... Come on. Something like sILV goes down by 90% and you YOLO in without checking wth is going on? If yes... damn how are you guys even be able to have money in your pocket? To check the news first is absolutely common sense, no its a fcking MUST DO before spending even 1 cent.

[tired loom]

Can you show where the team confirmed that. I am simply trying to find the best course of action.

[spare scroll]

They should really ban people making up stuff like that to create confusion

[sage falcon]

It went from $500 to 400 then 300 then 200 then the abyss.

Not really an abnormal price movement for sILV when a whale sells.

[wooden trail]

Their impermanent loss is now permanent, because sILV dipped so hard the ratio of their LP is skewed to have more sILV to maintain a 50-50 split. The bulk of those sILV are the fake ones printed out of thin air. All their ETH are basically lost.

The team printing sILV out of thin air to drain the pool further to stop the attack is not a good look as well and caused even more misery to the LP providers. I understand that it's not official, but it's still not a good look.

[quick berry]

ILV chart looking horrible. We are going to tank. 😩

[molten niche]

Scammer BTW._.A ssyer#3878

[red geyser]

It’s pinned.

[woven geyser]

There was a chance to buy it at 400 and 250 for a while... that is not 90% dip.

[red geyser]

[sage falcon]

yea cool its fine to gamble recklessly with big money but like...at what point does one need to take responsibility when doing so? someone could show up 12 hours later with same excuses ("didn't check news/socials", "didnt check chart", "crashes are normal in crypto")...so how long does the team need to compensate for these investments that were done blindly and hoping for some megawin like this that just didnt pan out

[latent hazel]

Uniswap is definitely trusted but it makes sense to check group before you buy something on huge discount from usual price, or I'm missing first rule of investment ape first do research later

[red geyser]

400s are pre announcement. 200s are post dip to 0.

[plain delta]

Had we not done that, the hacker would have sold it all and dumped it to zero any way. This way we have some funds to give back to the LPs.

[vast cedar]

what about the time between dip and announcement?

[merry mountain]

Simple answer is no, they don’t have to take the responsibility and wipe everyone’s asses

[neon palm]

ILV seems like its taking a dip from this too. you guys think its safe to buy that?

[gritty berry]

omg i bought sILV as saw the price was down. and just read the news. Is there a possibility I spent my money on nothing ????

[slate urchin]

Isn’t this a DAO why pull liquidity without a vote or a heads up to the community, if the team knew about the exploit more than 24hrs???

[pseudo steeple]

I fully understand that your position is take another snapshot of sILV sellers to fuck them up. i just want to explain my position. Never forget that is open market for free speculations. once everyone is warned about snapshot and risks around buying, there should be no buys after dumping 100kk of sILV by the team. Price should stay on levels with 0 liquidity on exit for sellers (1$ and less). all the buyers were warned at the begining from announcement #📣〕announcements message and since everyone is secured with a snapshot. its an open market to sell ur dead token if there is the liquidity to cover tx cost. actually i do not remember any case with conract exploit when sellers are fucked after official announcement regarding snapshot and that token holders are secured by this snapshot.

i personally suffered 300k $+ loss today by holding sILV for months and providing liquidity on uniswap.

[light nymph]

18 hours ago >.> thats WAY before the crash at 14:25 /announcement. you should be fine.

[zenith bridge]

Soooo happy we get to load up on ILV for cheap!! Go baby go!!! Lol (make the best of a shiet situation)

[rancid adder]

Well, maybe they should

[worn eagle]

Can you please confirm that people buying after the announcement are screwed ..... I would like to sell and go to sleep and get back at least a fraction of this sILV scam supported by the project since the start .... Would like to avoid waking up with the announcement tomorrow with sILV at 0 .... at least I can save something

[red geyser]

Not sure there. That’s a short time for sure.

[red geyser]

[sage falcon]

Thats literally what the announcement says...

[hardy spear]

I thought it was a good price so I aped in and now this 🥲 I‘m worried 🙈

[proven rain]

It seems as though the person exploiting the contract hadnt started dumping until 10-20 minutes before the team pulled liq. I fully stand behind their decision to act urgently and salvage the 117 eth.

[runic ruin]

No its not. trades went through 10-30 mins after announcement between 0.15$ and 500$ changing value every second.

[dense reef]

whats the exact time you bought for 30k? that would really be interesting to know

[wooden trail]

Damn if you do, damn if you don't.

[long bough]

I had 7 fake sILV. Will I receive 7 real sILV now?

[shrewd phoenix]

What what would be a better solution? The dev team tried to stop the hacker profits quickly. Now the hacker won't profit as much and the damage is smaller for the whole project.

[warped moon]

why didn't the hacker dump it all instantly? how did the team manage to get everyone together, access the multisig, print sILV, and dump it themselves in time?

[red geyser]

Sounds like a low liquidity pool. I’ll have to check that.

[zenith fable]

Dumping instantly will be tonne of slippage, that's why

[full dome]

greed.

[quick berry]

opening a short to hedge my position. This is going to get ugly.

[sage falcon]

There was a 4 minute delay between the dump candle and the announcement on discord. Those people in between will likely get refunded, but imo should be refunded the eth amount and not the sILV they snatched for basically free.

[minor delta]

Because they are a very well organized team that clearly had protocols in place for hacks like this. Ppl talking shit on them just dont know what they're talking about.

[tranquil tartan]

isn't there suppose to be a bot for FNC wl? where we can put in our ETH contract address to finalize the entry?

[sharp fog]

Many would have bought the dump, actually. They only had ~8k tokens after all. Now everyone that kept and keeps buying, in case they didn't read Discord is royally screwed.

[vast cedar]

yes 3 minutes, i bought in that time for decent price so vingers crossed. Didn't even know wtf was going on 🥲

[alpine trout]

cause he was selling bit by bit and imo he was gonna drop the bomb right before landsale

[molten niche]

Kept saying slow mode activated trying to post his name

[slate urchin]

You can’t price impact will be more than 50% because the team pulled liquidity- slippage is huge! Also, not everyone whose at work or out running errands would’ve seen the announcement so not sure how they expected to take a snap shot

[zenith bridge]

Where can you leverage trade ILV??
ILV Had already broken an important trend line previous to the event (Albiet, no big deal since its so new), but also broke this huuuuuge level of support at 1k. Deffo heading down, down, down and I'm happy happy happy

[final plume]

gn everyone

[full dome]

#💰〕token

[spring lava]

hi

[knotty juniper]

soooo what token do I need to buy land 🙂

[reef shale]

You can sell, but you’re only getting like $5.00 per silv bud. Sorry

[unkempt swan]

ILV might crash to 500 or lower with this amount of fud

[worn eagle]

So sick

[long bough]

I mean in the past weeks I bought 7 sILV and I tought them were real, now will I receive then the REAL sILV?

[full dome]

if you bought before the announcement you are fine.

[fossil ridge]

I believe the team will do its best to compensate all harmed... lets wait for an announcement

[light nymph]

If you really bought 18 hours ago is more than enough time pre announcement you are more than okay man just sit back and enjoy the show of all the people who recklessly bought post announcement. I have a feeling lots here are going to be realizing their mistake like getting hit by ice bucket challenge.

[shrewd phoenix]

Sorry, but I think people that bought after the announcement/snapshot won't be reimbursed. But I am pretty sure the dev team will be all possible to reimburse all legitimate sILV holders. Let's be patient

[quick berry]

When FA and TA line up you know its all over. Sucks I hold such a massive ILV position.

[raw wolf]

Should we just sell our silv now?

[woven geyser]

You're not forced to hold lol

[proven rain]

If people were making investment transactions while running errands and they were buying the dip without doing due diligence, then they got what they deserved. Everyone wants freedom to do what they want with their money until they act irresponsible, then they want a hand out. (IM NOT THE YOUTBER)

[dull jetty]

damn thats the dreaaaaam

[abstract shoal]

I'd like that to happen. Less value for sILV more revdis for stakers

[clever fjord]

sILV is still a good thing and was a great buy. BEFORE it was said to stop using that pool

[echo shuttle]

so sell ILV now and rebuy at cheaper price seems the way to go at the moment

[minor delta]

This was my thought, too. Either he was waiting to buy land or for sILV = ILV right before land sale and then cash out
Thankfully he was outted on Twitter today, so looks like he started panic selling

[quiet summit]

Question Guy's theres scholarship for those can't afford iluvium

[warped moon]

ah i see, thank you

[tardy radish]

So much FUD in here

[tough oxide]

Is there a summary of what exactly happened? somebody infinite minted silv?

[shrewd phoenix]

Yep. I am not the right person to confirm if those 8K would cause a big problem or not. There is no easy solution. But right now, all person that purchased after the snapshot could be reimbursed at a lower price at least, if necessary.

[acoustic prawn]

yo when can i buy silv at these prices? 😄

[inner topaz]

Avoid detection, plus they were trying to drain as much liquidity as they could, there hasn't been enough liquidity for them to do that

[tough knoll]

Ilv going down :sadsmolcat:

[quick berry]

I am, my ILV is locked for 12months

They Should have sorted this sILV crap out months ago when it first started getting traded on secondary markets. It was obvious this was going to happen. Nothing should have been tradeable until we were up and running.

[lofty knoll]

Why would you sell if your tokens are guaranteed with the snapshot. Only reason is trying to get more money for yourself at the depends of victims. Not better than a scammer.

[neon palm]

If the devs cover with their silv would that drive the price of ilv lower?

[thin sage]

What? Theres a fake sILV?

[red geyser]

Strange. Dextools shows a top price on 1m candles of $227.66296 after the announcement. Sure it goes up and down but not above 200s. However maybe uniswap was showing something different in the live swaps. I don’t know.

[dull jetty]

did they doxx the hacker?

[woven geyser]

https://www.youtube.com/watch?v=zUN1VEwVDT0&t=260s = Scoriox shilling sILV - Oops sorry this is Nixatar my bad

[worn eagle]

Shouldn't you come back today I would just like to remind some important points: 1) Despite all the announcements made about all types of scams in the dedicated section, there has never been a single publication about the lack of legitimacy of the sILV liquidity pool. Not even an official announcement of the risks involved. 2) There are people who bought sILVs after the announcement at a reduced but correct price and who did so in good faith. I think this is my case. It would be correct to at least refund these players .... I fully understand that from the point of view of the people who didn't buy anything and saw the announcement we are all idiots but we are talking about large amounts of money that can influence public opinion on the game and its integrity. This can have a really bad impact on the game and the price of ILV in general.

[red geyser]

Nixatar is not scoriox.

[tired loom]

I will take my licks and eat my loss, but this would be my plea, not everyone jumps in discord, additionally, there was no clear indication or announcement stating that someone has missed the snap shot. When it comes to decentralized marketplaces, it can be frustrating for sure, but I DO UNDERSTAND the risk. It just was not clear that these tokens were already worthless and the announcement I did see after the fact does not indicate the snapshot had already taken place. I can accept losing, eth, but if the team already knew the snap shot had taken place, it could have done everyone a favor and stated the snapshot had taken place. I am only responding to the people in here stating one way or the next that they know for certain, I will wait until the team makes their next announcement but I do hope my small bag can be salvaged. Obviously nobody would buy if it was clear that the token was worthless and would not be honored. Why would it have been difficult for the announcement to literally say, "the snapshot has occurred and any purchases after this time stamp will not be honored." Again, I will wait for the team to let us know the end result of this but it would seem like there were additional preventative measures to ensure regular people like me didnt just buy a worthless token. ☹️

[red geyser]

!silv oof. @tidal garnet let me down.

[tidal garnet]

sILV is a substitute currency that can only be gained as yield when staking ILV. In game, it can be used to pay for any fee (excluding IlluviDEX trades and Leviathan Arena wagers) that otherwise would be paid for with the main currency ETH. The value of sILV in the game - and for possible sales where sILV is allowed - will be equal to the value of ILV.

While claimed staking rewards in the form of ILV are locked for 12 months, sILV offers the opportunity to liquidate your staking rewards immediately. The tradeoff for that is that sILV only can be used in-game and does not provide compounding in any form.

[glossy crescent]

Some help during these times when there's a lot of activity in the chat. Reminder to never trust any DMs. Stay safe and stay away from scammers.

[proven rain]

1. Illuvium has no control over Uniswap, or DEX's and the liquidity that individuals provide to them 2. The team was FULLY transparent in letting the community know there was a potential exploit within the sILV protocol when they found out about it 3.They stopped the claiming of sILV for this very reason.

[zenith bridge]

DROOOOOL 🤤 The mother of all entry points

[wintry palm]

Lot of activity, ...the whole space has been taken over by hackers over the last few weeks . Stay safe don’t click on links

[tardy radish]

Im holding Have been since the start this is just a blip on the Radar. Dont let it shake you out. This shit happens and not even Uncommon for exploits to happen. ILV is going to prosper GG.

[turbid thorn]

Silv a buy? 👀

[winter imp]

I have proof of an sILV buy transaction made 6 minutes before the discord announcement and before the 100M sILV Dump offer - but when was the snapshot taken? Will this be sufficient.

[lofty knoll]

Probably good

[lofty knoll]

No.

[sage falcon]

What happens if wen buy silv now ?

[unkempt swan]

if team had released the snapshot addresses and silv balance there wont so much fud
more time team takes more bad press for ILV

[lofty knoll]

You buy a dead token that is worthless

[ripe hemlock]

I don't get 100% what exactly happend😅

[full dome]

this.

[sage falcon]

sounds like u should be fine tbh,anyone who bought above 400 should be fine imo

[spare scroll]

You effectively lose whatever you trade for it

[wooden whale]

@lofty knoll You don't get paid enough

[red geyser]

Read the pins and #📣〕announcements It’s not a fake token. If you’ve got it for awhile now just hold it. If you bought it in the last 4 hours it won’t be usable.

[shrewd phoenix]

I am also not sure if the snapshot has been taken. They said in the announcement "As soon as we can get a snapshot of the true owners of sILV we will reimburse everyone." Maybe you are OK. Let's wait for future announcements

[light nymph]

Welcome my friend to the volitility of ecoins

[reef shale]

Snapshot has been taken

[red geyser]

A hacker minted extra sILV out of thin air and was selling it to get eth. The team squashed the ability to keep selling to the community at high prices in massive volume. Don’t buy sILV now.

[turbid thorn]

Damn, congrats to whoever bought for almost 0 and sold it few min later for 100. So basically if u buy now u don't actually own silv?

[full dome]

correct

[warped moon]

Why would it have been difficult for the announcement to literally say, "the snapshot has occurred and any purchases after this time stamp will not be honored."

The announcement said "Do not buy in the unofficial sILV pool", which is even better. what part of that didnt you understand?

[supple brook]

Is Polemos being built by the same people as Illuvium? I ask because I'm seeing that name a lot in here.

[proven rain]

You bring up a very honest appeal, and im sorry for your predicament. Can you think of a solution the team would be able to implement that would delineate between someone in your situation, and someone who may have thought "Ill buy more since i know they're going to take a snapshot"

[pseudo steeple]

dont forget that we are all victims here. as i said before there is should not be any liquidity to exit after the mint&sell by the team. ppl was buying regardless announcement from the team. ppl were selling because there is still 0 officiall announcement regarding the sellers. (hopefully team will take it into account)

i really upset that you compared me with a scammer. but its ok.

[lofty knoll]

Nope.

[spare scroll]

Yes, it’s worthless, a new V2 sILV will be created and ppl that had sILV at the time if the snapshot will be reimbursed

[winter imp]

I understand a lot of people were affected and it's a difficult situation. If there is more information about the exact timestamp the snapshot took place, that would clear up any doubts.. I'll keep the evidence of the transaction just in case.

[acoustic python]

Hello guys, I am trying to claim sushi LP, but it is not working. It returns JSON-RPC error using a coinbase wallet. What is going on?

[worn eagle]

I really hope that the Founders will be able to reimburse, at least in part, the bona fide buyers who purchased after the announcement. Even if only in part, this will go a long way to easing the tensions that will arise from some people's huge loss of money, not from investment risk but from a flaw in Illuvium's system. It has never been clearly stated the scam risks that could occur with this liquidity pool.

[sage falcon]

So its pointless buying im guessing ya?

[fast spoke]

if sILV is same value as ILV for sales, why wold everyone not jsut buy sILV for land sale and essentially get 50% off? is that wht everyone was essentially doing anyway?

[lofty knoll]

I am not a victim. I sat on my hands trying to calm down people and I didnt touch my wallet. People that sold to get more money don't deserve to get their tokens back.

They already did their trade.

[smoky obsidian]

no need to keep them 🙂 they are inscripted in the blockchain... it s what crypto is 🙂 just letting you know

[clear dew]

I’m sure it’s worded like this because the team hadn’t yet decided the most accurate time to snapshot to decide true silv holders. They had more important things to worry about

[light nymph]

Exactly if you going to go around like a thug you deserve ultimately to get treated the same for it. >.> there at a certain point has to be a difference between just greed and doing it to abuse the system.

[twin turret]

so we have many who lost money , and those who have sold , and will also receive and airdrop? :)) that can't be

[winter hinge]

If ppl that sold after announcement get token I'll be pissed

[woven geyser]

Brutal standpoint to take lol. All I know is that ILV stands to lose a lot more depending on how they handle this.

[warped moon]

facts

[lofty knoll]

Yea cause they basically stole money from others.

Knowingly.

[spare scroll]

That’s my take, if they get pissed and “leave”, good riddance …

[sage falcon]

I wonder what happens to people that automatically bought sILV cause they had resting bids via aggregators like 1inch and matcha? Obviously bots will arb a limit order automatically, and the maker will spend their ETH. The trades of course might happen after the 100M Market Sell. What happens to those people?

[sharp fog]

Unofficial pool 🤡 They were stealing

[tacit frost]

HOW DO I BUY LAND?

[sage falcon]

Its at 0.75 now crazyy.

[winter imp]

well you're right, they were talking about returning that ETH. So, maybe that means the snapshot is in fact after the 100M Dump Sale.... hopefully.

[cinder wagon]

I mean not everyone is on the discord. Someone might wake up and just sell. You can say its on them, but it is more reasonable for someone to sell a hacked token than to buy a 90% dip.

[woven geyser]

on 1inch YOU CAN SET LIMIT ORDERS. Some people bought while asleep. but sure call them scammers.

[sage falcon]

This seems a little harsh. Maybe those that sold post snapshot could get 50% reimbursement and the other 50% could go to people who bought after the snapshot. That way the sellers take a penalty and the extra can go to help out the victims of those sellers.

[lofty knoll]

Nothing changed. With ETH and the new sILV that you get by staking.

[warped moon]

minority

[proven rain]

Kieran already said he would reach into his own personal pockets to help make the LP providers whole. TBH they were the most fucked by this.

[lofty knoll]

I am not the one drawing the line. I'm just giving my opinion.

[worn eagle]

That would indeed be acceptable for me ... a 50 % loss

[lethal talon]

just saw the malura video .... ive got an itch and it wont stop till i get one lol

[spare scroll]

So you’re basically saying that when the team specifically tells ppl not to buy or sell, they also have to make up for ppl buying or selling ? Anyhow, 50% seems rather arbitrary, if anything they should do the refund proportionally to the value of sILV at the time of the snapshot instead …

[final plume]

@lofty knoll This guy has a point tho. Is there a way to look at blockchain and detect the limit orders happening at the same time as the announcement? These guys were not trying to do anything bad

[lofty knoll]

They will be very few and yes it is viewable.

[twin turret]

Maybe the Team can offer some landplots in exchange for the sILV ? they can be like , if you use it in the landsale it is okay. otherwise, you can redeem for X amount of Eth. My point is that , there doesn't have to be necessarily one way to make up for this. a good percent of people may happily take a land instead ( or some in-game value)

[stable pasture]

sILV literally hit 0$

[clever fjord]

i think the same.

[lofty knoll]

But the limit order wont work with that kind of candle, after.. maybe but why would someone would have set a sell order around 200 before the announcement?

Makes no sense so it is baseless

[ripe hemlock]

Tyvm, can someone pin that, is easier explained then on announcement

But btw how much the hacker could steal?

[light nymph]

As it should since it was in #📣〕announcements NOT TO BUY OR SELL. Does no one read the announcements they are kinda important to be reading. Then again what can I say when all sorts of people use the #799010390201466880 to advertise. Despite RULE 4 SPECIFICALLY saying no advertisements.

[lofty knoll]

Selling at a loss?

[final narwhal]

I mean people who had automatic orders to buy silv when it dropped to spexific price

[cinder wagon]

Gala Games gave Vox Boxes to their hurt community members. 100's of thousands in value returned to the people. Everyone over compensated in a NFT. Couldn't be happier. All it cost Gala was a digital airdrop.

[hollow finch]

Time for Xanax and tea. Let the big boys handle all of it. I’m sure we are in good hands

[lofty knoll]

Not my decision to make.

[tardy radish]

https://images-ext-1.discordapp.net/external/vJOR_-mOAuF7BE-hzdixBayk7tnFAC_DtQDrrV93x7U/https/cdn-longterm.mee6.xyz/plugins/commands/images/873976168867569684/2675dd18a9dd1959963830b9ffa48c36e4a50710130fc1a04f145a63142809f4.gif

[vital vigil]

Wtf it's from 10k to $180

[red geyser]

What is? (Don’t buy sILV)

[modest pelican]

did you lose in this way? you keep speculating about this use case but no one has said they bought in this way. speculation or straw man

[sage falcon]

It doesnt look like they said anywhere in the announcement not to sell. But if people who sold post snapshot are going to be penalized on their reimbursement that will result in extra sILV that still needs to be distributed somewhere.

I think its more likely that those who sold post snapshot just get some extra ETH at the expense of the buyers.

[steep moon]

what time was the snapshot taken

[winter imp]

I'm kind of wondering that too - the official timestamp of the snapshot is important to know. Could any mods/core contributors find out the snapshot timestamp (when it's convenient)?

[sharp fog]

Can't they just post the block number?

[rich terrace]

We will. It'll just take time.

[spare scroll]

Ok, so the announcement says not to buy… I honestly don’t see how this makes ppl that sold look any better …

[red geyser]

They could. And will I’m sure. But to make a decision … this

[vital vigil]

We are getting our money back, right? I bought it a week ago or so.

[fossil ridge]

The only reason most of us bought Silv is for the land sale thats all we want, I never sold...

[red geyser]

Yeah hold the sILV. You’ll get a new token to replace it.

[sweet shard]

you'll get a v2 version of sILV as a replacement

[lofty knoll]

Btw my opinion doesn't matter at all in the team decision. For those that think I have the final judgment.. I absolutely dont lol. Wait for team announcement. Now that things calmed down ima go eat ☮️

[steep moon]

i bought 4 hours ago when it was around $200 in preparation of the land sale. which looking at the time stamp of the announcement was like 30 mins later 😭... damn maybe im not in the snapshot

[sage falcon]

Thats pain bro

[worn eagle]

Admins, Moderators, Contributors, s'il vous plaît prenez la bonne décision. Beaucoup de personne ont perdues de l'argent dans ce scam. Beaucoup de personnes qui croient dans ce projet. Vous ne devez surtout pas laisser tomber complètement des personnes honnêtes qui n'y peuvent rien d'avoir acheter des sILV sans avoir vu l'annonce. Il faut savoir faire la différence entre opportunistes et personne de bonne foi. Si vous décidez délibérément de laisser tomber toute une partie de votre communauté, cela aura un impact dramatique sur le cours d

[half barn]

K21-baby just tried scamming me. Are they in this group?

[clear dew]

How could the price have been $200 30 mins after the announcement? The whole point of the 100m token dump was the drain the remaining ETH and plummet the price to 0

[sharp fog]

I'm sure they will help out and fix things. Just got to wait now and see what they will come up with exactly.

[red geyser]

They couldn’t take all the liquidity out of the pool. Check what happened on dextools.

[light nymph]

At the end of the day they will have to just assume those who bought out of spite of the collapsing value had no clue. There are only so much that the project can absorb in terms of damages. At a certain point its its not Illuviums job to hand hold its Ecoin investors. Do some research if you see something weird don't just blindly buy into a dip.

[twin turret]

go see for yourself. my situation is exactly like him

[wispy kindle]

Go to #🚨❗〕report-scammers, screenshot and ID

[winter hinge]

I have this gut feeling that people that traded after the announcement will still be rewarded to avoid more backlash and because of the few people that traded without knowing. Which will make the rest of us look like fools

[lofty knoll]

Cause people bought and injected ETH.

[digital rock]

agree with this !

[vale wave]

$4*

[steep moon]

liquidity was available on dextool/uniswap

@red geyser yes exactly that.

[rich terrace]

If that happens then the people who didn't will look like decent people who didn't want to take money from unknowing community members. I don't think that doing the decent thing makes people look bad.

[gleaming compass]

Hey guys. How do you make money in Illuvium? Can you sel your monsters?

[tired loom]

I am a holder of tokens, I am not typically someone buying to flip. Additionally I dont have enough to speak for someone who has put a tremendous more in, (a person above said $24k and another $80k,) but if theres a solution to swap for the original purchase price, or to exchange land, I would be more than happy to be as flexible and understanding on my side. I am not trying to squeeze anyone here.

[final narwhal]

Thankfully I did not lose money this way, but I was close to setting this up yesterday… also people who did are probably asleep or not paying attention. I don’t see why you would want to call this speculation or straw and not be concerned for these people instead.

[vital vigil]

So I will be able to buy land. With the same rule applies. The double credit?

[cinder wagon]

The more I read peoples thoughts here the more I see people caring more about "I better get treated better than panic sellers and post announcement sellers because ......". People were hurt in this. Some people invested everything. I'm sorry but everyone needs to be compensated the best they can or Illuvium is gonna have major egg on their face. One that doesn't wipe off easy, which means less people buying in to pump your "not investment". Someone getting 200$ in sells from their 100k$ investment isnt a flex. Just hope that EVERYONE is compensated fairly because that means you get compensated fairly.

[red geyser]

The new sILV tokens would be usable at ILV value.

[prisma root]

I’ve been busy all day but to clarify, everyone that was holding tokens prior to this whole security breach should be fine correct? That’s what we are hoping for at the moment right?

[wispy kindle]

That is correct

[sage falcon]

Any sILV held before the announcement should be reimbursed no problem. Trading after the snapshot is gonna cause some problems.

[short oasis]

Yall think they will issues a NEW sILV token or somehow rollback the regular sILV(is that even possible???)

[pale sun]

New silv

[vital vigil]

What, so no discount?

[red geyser]

It will work the way it worked before.

!silv

[tidal garnet]

sILV is a substitute currency that can only be gained as yield when staking ILV. In game, it can be used to pay for any fee (excluding IlluviDEX trades and Leviathan Arena wagers) that otherwise would be paid for with the main currency ETH. The value of sILV in the game - and for possible sales where sILV is allowed - will be equal to the value of ILV.

While claimed staking rewards in the form of ILV are locked for 12 months, sILV offers the opportunity to liquidate your staking rewards immediately. The tradeoff for that is that sILV only can be used in-game and does not provide compounding in any form.

[coral glacier]

Do we expect the Uniswap LPs to return for the new sILV?

[worn eagle]

I think it would be fair to make a % system so as not to drop some people 100%. If they decide to drop 100% of buyers after the announcement just based on the announcement, I fear the worst .... It would make more sense to refund, for example, those in possession of sILV before the announcement at 100% and those after the announcement at 50%, or think of some other compensation. That would avoid the headlines on Medium tomorrow ....

[warped moon]

that's a good joke brother. reward people who are selling now, making money off of innocents who are buying a useless token. they get a bonus and they also get new sILV. fat chance.

people who held sILV before the announcement and continue to hold deserve full reimbursement. people who accidentally sold now have a chance to buy back. people who sold, took the ETH, and are gonna sit on their hands waiting for free money... tough luck. you can't fuck people over and expect not to get fucked yourself.

[dusty plank]

https://tenor.com/view/ogvhs-crystal-ball-prediction-future-predict-gif-18199743

[prisma root]

Gotcha that’s what I figured but wanted to make sure. Thanks @sage falcon @wispy kindle

Another question I have which I assume nobody probably has the answer to but how is the starting price to this “new silv” going to work/start at?

Finally I want your speculation/opinion do you guys believe this is going to devalue silv for the future? Are we ever going to see a 500-700$+ silv again?

[teal relic]

What happened with sILV?

[iron crypt]

yoooooo, whats going on with silv????

[dusty plank]

Check the pins here and #📣〕announcements

[woven geyser]

Speculating, we will probably see fewer investors then before...

[hasty jewel]

First rug pool

[velvet hearth]

how get member role???

[magic slate]

sILV v2 would be priced by the market, if they only release it on the day of the landsale which is its first use case, I would assume it would be closer to ILV value but who knows...

[sage falcon]

sILV within the Illuvium ecosystem will always equal the value of 1 ILV. The 'starting price' will be determined by whoever sets up the pool with the new sILV token. They could start it at $1 or $1,000,000. It just depends on the sILV/ETH ratio when they seed the pool.

[open swallow]

I was under the impression that sILV would always be lower value than ILV since sILV is only used for in-game purchases. It cant be staked. Its just a game token. Similar to Axie Infinity Smooth Love Potion. That is why when I bought it the price was 50% lower than ILV. Makes perfect sense to me.

[dusty plank]

sILV 2.0 will have the same functionality as sILV 1.0, so I wouldn't expect the price to vary much. The token has always done the same thing, which is to be pegged to the price of ILV for in-game spending. Whether a LP is established again, we'll have to wait and see.

[wispy kindle]

Oficially the value of sILV = ILV. If people start a new unofficial with the V2 sILV who knows what will it be the starting price (offer and demand will take care of that)

[vital vigil]

Ok thank you. I Hear everyone saying snapshot. When was the snapshot or when will it be. Also, will we have our full amount of tokens. before land sale? For the people that qualify

[timid osprey]

"new sILV" price on pools will be set by whoever starts the pool and change based on the market afterwards, like any other pool. 500-700 seems pretty possible since all this should be sorted out before land sale, so the idea of buying land at a discounted price still applies. I honestly was surprised prices were not higher than the ~500 we were seeing given that land sale was approaching. Maybe now we know why 🙂

[ebon echo]

Agree.. I saw the drop and checked what the heck was going on. I decided not to get involved and let the dust settle first. but If you saw 90+ drop and decided to buy more, thinking you can take advantage of things, then you are a high risk taker and you assumed the worse case scenario already. Fair!!

[heavy vessel]

Wait what happened?

[cinder wagon]

Case in point. Everyone is malicious in your mind. You can live by punishing everyone according to worst actors in a group, Or you can give everyone the benefit and not let those few bad actors cause cancer for the whole body. Big picture is hard here, but If you closed your eyes and didn't worry about others people's wallets, you might be very happy to just get back to where you were.

[odd python]

currious how many of you here shitting ricks and shaking uncontrollably when you get that noti pop up that SILV goes to 0 before you read the anno?

[wispy kindle]

Read the latest #📣〕announcements

[prisma root]

I imagine they wouldn’t do the land sale until all of this is sorted out 100%. I would also like to believe people would have more then a couple days to purchase silv for the land sale if they decide to. Thank you everyone for replying to my questions!!

[hardy gust]

We need to announce land sale date when sILV goes live

[warped moon]

unfortunately we run on consensus and majority here. a few good people will get fucked over, but way more bad actors will get fucked over, and 99% of people who have fairly and rightfully owned sILV will win out in the long run. we don't make decisions based on the minority, that would be unfair for the whole community and tokenomics

[worn eagle]

Please Kieran, Good News

[teal relic]

Yea it just says don't buy into the silv pool, can you elaborate further. Would be happy to look at the announcements if it actually had some explanations. Got an explanation here, #💰〕token message Please see it to understand how to respond better. BTW the 5 minute timer is dumb af. Put that message in your announcement then. Dont understand why you're hating, you redirected people there, and it doesnt give any explanation

[dusty plank]

#💬〕general message

[mellow brook]

just came in, whats going on? Silv down to $8, should we be buying more right now?

[steel steppe]

hey guys has everything returned back to normal?

[sage falcon]

#📣〕announcements
Do not buy sILV

[dusty plank]

The team makes the announcements, we just take the hate from y'all 🙂

[merry mountain]

If you don’t want anyone to see your msg then sure, remove 5 minutes timer

[red geyser]

It will get assigned eventually.

[loud pagoda]

Yeah we need to

[hardy gust]

ETA on sILV v2?

[wispy kindle]

Use this in #👑〕bot-commands

[wispy kindle]

Don't know yet. We're waiting for official announcement

[digital rock]

I really feel bad for the people that bought after the announcement, hope the team come up with a plan for them as well 😕

[inner topaz]

The eDAO will make a decision on this temporarily as the community want answers. However, it will be discussed with the council, and if a proposal is approved to reimburse them then the treasury will. As it stands right now, everyone prior to the announcement is being reimbursed.

[upper cave]

Noob here… I have ilv what’s with this staking.. should I invest in a pool? Or just keep buying and selling ilv in trader apps

[quasi trout]

in which smart contract the exploit was found? in staking contract or in sILV contract?

[worn eagle]

I hope from the bottom of my heart that you will find compensation for those who have, apart from forgetting to consult the "announcement" part of a discord, lost a lot of money for the moment. Don't forget that it was far from clear that the liquidity pool was not insured by you. I think that in these circumstances, to refund 100% of the people before the announcement and 0% of the people who bought after is not fair. Good night.

[vital vigil]

I feel like this is just a hiccup. The team been responding and been professional. I'm still excited about everything

[winter imp]

yeah I'm still confident Illuvium will deal with this gracefully and still have a blockbuster 2022.

[woven geyser]

I have confidence the team will do what is needed to keep the reputation intact, discord channels can go south fast when things like this happen, and can linger to kill the project. I feel bad for the team because it's not really their fault at all either though.

[twin turret]

I don't think it's a matter of if for them. It's a matter of how mostly. They care about the community as a wholem not just before the snapshot

[sage falcon]

It was INCREDIBLY clear that the pool was not insured. It was also clear that it was not officially sponsored by Illuvium. That being said I hope they are able to help everyone out.

[digital rock]

True

[sage falcon]

Silv dumped why

[acoustic python]

Guys, question. Was the official Sushi LP disabled or something? I am not able to claim and therefore to withdraw anything. It returns an error saying it cannot estimate gas. What can I do here?

[long scaffold]

But again: problem was not with the pool. It was INCREDIBLY clear that sILV is an ERC-20 token that could only be minted by claiming rewards. This turned out to be false, a mistake of the ILV devs. A broken promise. All is well though, they are handling it well, great team. But they are responsible for this and they accept the responsibility. So don't deny that.

[final anvil]

Check announcement

[cinder wagon]

In almost no society ever are there more bad people than good. Chances are you will steam roll more good people than bad and leave a bad taste in the mouths of people on the fence about investing. Many people will sell since no one told them not to. The argument they should know better doesn't really fly when you and I both know many people don't check 5 feeds for info. Also - The common argument of, "we dont need people who dont do xyz", is awful. Every crypto project needs more people. Neither of us have numbers but I'd bet a whole ETH you have more innocent than guilty and the recovery and public image will be better off if they just forget about trying to screw over post sellers.

[pale sun]

Lets say you buy a computer from apple. It gets delivered through Amazon. Once delivered, you notice its screen is broken (most likely during delivery). Do you go and sue Apple?

Uniswap is an intermediary and it isnt the ILV team’s responsibility to identify the risks of a DEX LP. That being said, they constantly remind people of the risks + impernanent loss etc in the staking channels. If you dont do the due diligence prior, thats on you. Additionally, not once did they say that uniswap was an approved platform for trading silv since, again, its a dex where an LP can be created by any whale feeling up to it. There is no presumption or insurance between a DEX and the team…

[merry mountain]

That’s entirely another story tho has nothing to do with the pool being insured or not

[final narwhal]

Everyone saying that “pool was uninsured” and “we should be grateful that team is not letting us all bite the dust” is naive. Team is doing the right thing in reimbursing everyone, as they should. But it is not a great privilege that token holders are being looked after where exploit in token was found.

[spare scroll]

Yeah I agree with this, I don’t really doubt that they will ultimately fix most if the issues generated by this, but the problem was definitely not the Pool per se…

[inner topaz]

It definitely was our fault. We created the contract that allowed the attacker to mint the sILV. Unfortunately, we have to accept responsibility. And that was and never will be in question. It's what do we do with the people who were potentially trying to take advantage of the situation and purchase sILV super cheap after an extremely obvious event.

[warped moon]

it's conjecture, we can't really get data on that. i see your point, but my view is most people will check either Twitter or Discord after a drop of that magnitude. at least >50%. you can disagree, and that's fine, we will never know, but it's what i believe. let's see what the team decide to do.

[inner topaz]

Luckily I can cover it so it doesn't touch the DAO financially, but it is a big, big warning to the team. We will be making some huge changes to ensure this never happens again

[sage falcon]

Point me to where I said they arent responsible? Obviously it was a mistake on their part that the contract was not secure but at some point the responsibility falls on the user to make intelligent trading decisions. They obviously cant refund 100% of the sILV in the ecosystem at a 1:1 rate as that would create a nearly $100 billion liability against the DAO.

[winter imp]

Isn't sILV v2 being minted? Then the new token would cover it all... maybe I'm just confused.

[inner topaz]

The LP's need to be covered

[clear dew]

You don’t have to pay back all the silv holders in eth/ilv. You just make a new token to repay silv holders with that serves the same function

[hallow vector]

The problem is for the people who provided liquidity, mostly

[elfin osprey]

Will people who bought sILV on Uniswap before the attack be reimbursed?

[cinder wagon]

That statement will get the community all hot and bothered sir 😅 ... calm yourself with all this Righteous taking of responsibility, straight forwardness and honesty. You might get some underwear thrown at you.

[sterile fjord]

They wrote a bad contract that got exploited

[long scaffold]

yes, no worries there

[final narwhal]

Taking full responsibility is a great sign of integrity and shows us all why we love illuvium in the first place; there is nothing overzealous about complete honesty.

[dusk bronze]

@inner topaz and the team, we belivein you guys. Whatever decisions you take we belive it will be the best decision for the community. No doubt that you guys are considering everything. Peace to ya all🙂

[merry mountain]

Only immature ppl will react that way with honesty, ppl with a logical brain would appreciate it

[inner topaz]

Haha I said it a couple of hours ago. It's an easy decision. I don't want to let this affect the project. The team has worked way too hard to let something like this derail us. 1.5m in ETH is a big hit to me trust me. But it would be an even bigger hit if ILV was to dip due to us just throwing our hands up and doing nothing. I just want to play the game already, fuck the money!

[sage falcon]

There are over 100,000,000 sILV tokens in circulation right now. If they refund them 1:1 Illuvium is dead. They can easily reimburse anyone from BEFORE the LP was drained, but not after. This will only cause a loss to people who bought sILV after an obvious issue with the token.

[weary spruce]

You're the man Kieran

[twin turret]

shouldn't there be a difference between someone who bought at 200 vs 2 ? the price went to zero and bounced back , but to many it has simply dipped.

[inner topaz]

Appreciate your support as always

[upper hedge]

Hey guys, my brother had about 37 sILV that he swapped for on Uniswap last night about 24 hours ago but it's now gone from his wallet completely. Is this supposed to happen? I still have my sILV in my wallet so were kinda freaking out

[worn eagle]

I completely agree with you, and I understand that for some people this seems quite explicit. Please note, however, that throughout the year several announcements have been made to explain to people that they should not click on fraudulent links sent to Discord .... On the other hand, no announcement has been made about the risk of the pool, which, although intrinsically not insured by Illuvium, is not official either! I've been following the project since the beginning and I'm quite familiar with liquidity pools, but I've never read anywhere on this Discord that the pool was not official. You should know, however, that Illuvium's refund decision is not based, for the moment, on the fault of having bought sILV but on the fault of having bought it after the announcement .... Imagine someone who has full confidence in the project, who has never read anywhere that the pool was not official and who decides to buy a few thousand euros worth of sILV without having seen the announcement, on the sole basis that he has not read an announcement he must lose 100% of his investment? I have been following the project since the beginning, I have staked 6.86 LP ILV-ETH , I have staked 37,41 ILV as well and I made the mistake of buying one hour after the announcement at $60 .... I didn't know anything about it compared to any other investor, I just thought there was a big drop like it happens all the time and that I had to be fast. That’s all ...

[manic badge]

12/Yuyo1991-17

[lofty knoll]

Indeed

[crimson matrix]

The devs really prove me everday that i am invested in the right project. you guys rock

[kindred berry]

hi

[sharp pebble]

Sad part is that it is impossible to prove if someone read the announcement or not. Sadly I think that the Illuvium team that made the misstake just have to take that hit and pay the lucky guys that purchased sILV for pennies.

[cinder wagon]

I dont think parts of the community realized I gave you the upmost praise but that's okay. In this day and age, sarcasm and tone are lost in any medium of communication.. even more so through text.

[prisma root]

If you have questions regarding silv right now please watch this video prior to asking them here!

https://youtu.be/IoRwKxAGWL8

[magic slate]

They had to dilute the unofficial pool otherwise the hackers will have sold their fake sILVs. This way they were to save the ETH and perhaps help the LP providers later.

[woven geyser]

Yes that's the main thing I've been advocating so annoyingly for, is that we can not know intent and can not pool people into the "scammer" column unfairly. Wether ILV dev's are responsible for compensation is another discussion altogether, I personally feel they are not responsible because had everyone not used the pool then there would be no issue. But seems like they are going above and beyond in claiming responsibility.

[inner topaz]

This will be a decision for the council. Right now only one call has been made and that is that we will be reimbursing everyone with V2 sILV tokens as long as you had them in your wallet prior to the announcement

[merry mountain]

If anything, I was kinda worried at first hearing the news but now I feel like going even more all in on the project from the way the warwicks and the tram handled this, at least personally

[sage falcon]

So you bought the token after a massive dump at $60 expecting about a 900% upside. Instead you found out that the token had been hacked and chose not to sell at $40 (30% downside), but hold the invalid tokens expecting the team to reimburse you.

Take a little responsibility for your decisions man. Cryto is a risk/reward space and you took a risk.

[spare scroll]

What’s worse is that he is of the opinion (according to another message) that he should be reimbursed 50% or the silv…

[tiny cave]

So much chaos!!!!!! Ahhhhhhhh nooooooooo. My ilv

[gleaming bough]

I'm surprised coinmaketcap doesn't have a warning on the sILV page like they did with squid game coin.

[long scaffold]

Illuvium will come out stronger from this. Security wise but also reputation wise.

[light nymph]

Its a lesson to be learned. ^w^7

[final plume]

What about those who haad sILV in the wallet, but then sold it and take profit on those who didnt read

[wicked furnace]

I think that will also be up to the council

[lofty knoll]

50% of the sILV that is now at a 100 000 000 supply.. sure

[prisma root]

@inner topaz you are the best bro. This is why I will stand by Illuvium forever.

[lean sigil]

daym Kieran your rich

[pale sun]

Ummm no? The price drop had alot to do post-announcement with the team attempting to nullify the uniswap LP through a sever mint. Why in the world, after the announcement and a force crash of the token, should post crash peeps be rewarded 1:1 o.O

[sharp pebble]

Good that they went full greed mode and minted so much sILV in such short time. If the attacker would have had more patience the situation could have been much worse.

[merry mountain]

I see it more as a testament, a great team will emerge from this stronger but most will fold under the pressure from the community and everything especially financial wise

[worn eagle]

The funny thing is that finally people who should have lost all their sILVs as well, even if they owned them before the announcement, are giving lessons. Indeed if we talk about risk, investing in a pool of liquidity that is not official is a risk, in principle you should all lose 100% of the value of your Token, but no you waited until now to be sure that you would get everything back and now that another person in an identical situation, under the pretext that a token loses value and that he did not read an announcement should take responsibility? I can't believe my ears .... Instead of showing a little humility and making sure everyone loses as little as possible .... (I didn't see you selling your sILV at 60 when you bought them at 550 .... )

[sterile fjord]

There's no liquidity to sell

[inner topaz]

lol, this is about 90% of my liquidity 😅

[sage falcon]

Kains got ur back…rite kain? Kek

[stuck bridge]

Any new Silv token compensated should be pegged to the price before the dump to be fair to the older holders who bought at peak prices

[sonic trail]

when will be the server up??