Shoebill Announcement

Compensation for Affected Users

Dear Shoebill Finance Community,

We are deeply committed to addressing the impact of the recent incident and providing relief to affected users. After careful consideration and calculation, we are pleased to announce a compensation plan based on the available treasury.

• Total Amount to Compensate(Total Amount of Available Treasury): 2.1 BTC
• Total Affected Amount for compensation: 20.27 BTC
• Total Affected Users for compensation: 1,518
• Compensation Basis: Users with a net BTC balance above 0.0014 BTC
• Compensation Principle: Distribute the total amount of available treasury at the same rate according to the amount affected by eligible users.

The compensation will be processed through a specialized contract, which will be available within a week via the Shoebill website. A detailed guide and instructions for claiming your compensation will be announced separately.

For users with a net BTC balance below 0.0014 BTC, we deeply appreciate your patience and understanding. While this initial compensation plan focuses on larger balances, future recoveries may be distributed to all affected users, including those with smaller balances. Our team is actively pursuing additional fund recovery efforts to ensure a more comprehensive resolution.

We want to thank you for your continued support and trust as we work tirelessly to rebuild and strengthen Shoebill Finance. Should you have any questions, please do not hesitate to reach out through our official support channels.

Sincerely,
The Shoebill Finance Team

Additional Recovery Plan for Affected Users

To all Shoebill users,

We acknowledge the concerns of our users regarding the recent incident and deeply value your continued understanding and patience. As part of our recovery efforts, we are implementing an additional recovery plan to assist affected users.

Key Details of the Plan:

1. The recovery will be funded using the entire available treasury amount except key expenses required for recovering the lost fund. However, as the treasury is not sufficient to fully cover all losses, this plan will provide compensation that covers a certain percentage of each affected user’s loss.

2. Users will need to claim their allocated recovery through a dedicated smart contract that we are preparing.

3. The preparation process is expected to be completed within two weeks, but we are making every effort to expedite the timeline to deliver relief promptly.

We have designed this approach to prioritize fairness while considering the available treasury. For users with smaller losses, we kindly ask for your understanding as we focus on recovering additional funds to ensure a more comprehensive resolution.

This measure is part of our ongoing commitment to support our users during this difficult time. Please rest assured that additional efforts to recover the lost funds are still underway, and we remain focused on providing long-term solutions for the community.

We will share further details and instructions through our official channels soon.

Thank you for your understanding and trust in Shoebill Finance. We remain dedicated to restoring confidence and supporting our community.

Sincerely,
The Shoebill Team

Dear Shoebill Finance Community,

Following the recent security incident, we have partnered with AMLBot, a recognized blockchain forensic service specializing in cryptocurrency tracing and anti-money laundering investigations.

Besides that, efforts are being made in parallel to support affected users from the Shoebill treasury, as outlined in previous updates.

We will continue to share updates with the community on the progress of fund recovery and also inform about the finalized support plan and timelines as they are determined.

We appreciate the cooperation and understanding of our community during this time. Our team remains focused on resolving this matter and implementing measures to prevent similar incidents in the future.

For any questions or concerns, please contact us through our official channels.

Sincerely,

Shoebill Finance Incident Report — BTC Market on BOB Chain

On Oct 31st, Shoebill Finance experienced a security incident affecting the BTC Market on the BOB chain.

Cause

The incident stemmed from an unexpected interaction within the oracle configuration during the integration of solvBTC and solvBTC.BBN assets. This interaction inadvertently created an exploitable condition that was leveraged by the attacker through a multi-stage exploit.

Actions Taken

- Vulnerability Fix: The vulnerability in the oracle configuration has been resolved to prevent further exploitation.
- Security Review: We conducted a thorough review of our systems and have verified that other markets remain unaffected by this issue.
- Engagement with on-chain security firms: We are actively working with Cryptoforensic and AMLBot to trace the movement of stolen assets across various chains and bridges.
- Law Enforcement: We have reported this incident to law enforcement agencies and are cooperating with them to facilitate any potential recovery of the stolen assets.

Next Steps

Shoebill Finance remains committed to transparency and security. We will continue to provide updates on this matter as we progress in our investigation and recovery efforts. Our top priority is ensuring the safety and trust of our community.

Please check more details here
https://medium.com/@shoebill.finance/shoebill-finance-incident-report-btc-market-on-bob-chain-8b5b487eed7c

❗️We have noticed a suspicious activity on BOB BTC market on Shoebill Finance

The BTC market is paused until further notice

🐦 8th Round BOB Spice Point has been distributed! 🐦

Shoebill Finance has distributed Spice to the users!
Check your BOB Dashboard at https://app.gobob.xyz/fusion.

As the 1st dApp on the BOB dashboard, we will distribute as much Spice as possible to users!

For Supply/Borrow, Borrow has a 2x internal multiplier.
For Gas consumption, every gas fee paid on BOB Shoebill will be compensated in Spice based on the gas consumption amount!

Visit👇
https://bob-eth.shoebill.finance/#/

🐦 7th Round BOB Spice Point has been distributed! 🐦

Shoebill Finance has distributed Spice to the users!
Check your BOB Dashboard at https://app.gobob.xyz/fusion.

As the 1st dApp on the BOB dashboard, we will distribute as much Spice as possible to users!

For Supply/Borrow, Borrow has a 2x internal multiplier.
For Gas consumption, every gas fee paid on BOB Shoebill will be compensated in Spice based on the gas consumption amount!

Visit👇
https://bob-eth.shoebill.finance/#/