Updates about TransitFinance

Dear users, we sincerely appreciate your patience. As we all know, TransitFinance was attacked by hackers at 18:33 +UTC on October 1st, 2022. This attack caused a total loss of funds worth $28.9M. Up to now, white hats have returned funds worth $24M, and funds worth $4.9M remained unrefunded (144,000 USDT worth of funds were sent into the blackhole by hacker#1 and permanently destroyed, and 1.4 million USDT worth of funds were lost when hacked#1 swap USDT to BNB and cannot be recovered forever). TransitFinance Official is assisting users who lost funds to recover their remaining funds through judicial channels, which will take a long time.

With a responsible attitude towards users’ assets, TransitFinance Official will bear 100% of users’ losses, and plans to launch the following refund plans:

1. Refund all the second batch of funds refunded by hackers to the users, including 10,000 BNB and 1.49 million USDT, accounting for 14.9% of the users’ total loss of funds, plus 68% of the first refund, accumulatively returning 82.9% of the users’ total lost funds.

2. The remaining 17.1% of the users’ lost funds are worth 4.94 million USDT, and TransitFinance Official will issue 4.94 million certificates(TS) for users to claim.

On October 14th, users can visit the refund website to claim the second batch of refunds and certificates(TS).

Refund Link: https://www.transit.finance/event/index.html#/

3. On October 19th, TransitFinance Official will inject its own 1 million USDT into the fund pool for users to exchange certificates(TS) into USDT at a ratio of 1:1. After that, TransitFinance Official will complete repurchasing 1 million certificates(TS).

4. The remaining 3.94 million certificates(TS) will be exchanged monthly, and TransitFinance Official will give users an additional 3% as a waiting reward.

Starting from November 15th, TransitFinance Official will inject 50% of the previous month’s income of TransitSwap into the fund pool for users to exchange certificates(TS) into USDT at a ratio of 1:1.03 until all certificates(TS) are exchanged.

If the remaining funds hacked by hackers are recovered in this process, TransitFinance Official will inject them into the fund pool to complete the refund in advance.

Meanwhile, please always get your information from official channels. Do not believe or spread rumors, and do not share private keys and mnemonics with anyone!

Official Twitter, https://twitter.com/TransitFinance
Refund Link, https://www.transit.finance/event/index.html