The DeFi project SafeMoon, on Tuesday, said that its liquidity pool, or LP, has been compromised.
What Happened: SafeMoon CEO John Karony took to Twitter and said the platform took prompt action to resolve this issue quickly. “I want to make clear that our DEX is safe. This ultimately affected the SFM:BNB LP pool.”
Karony said that the SafeMoon team met with key advisors to agree on a plan that protects token holders and the community. “We have located the suspected exploit, patched the vulnerability, and are engaging a chain forensics consultant to determine the precise nature and extent of the exploit,” he tweeted.
The compromise comes at a time when SafeMoon just launched its security product, Orbital Shield.
Dogecoin DOGE/USD co-founder Billy Markus, also known as Shibetoshi Nakamoto, took to Twitter to respond to the news. He said, “Dogecoin has been around for 9 years and doesn’t have an LP [liquidity pool] because it’s not a stupid piece of sh*t token made to take money from m**ons’.”
Price Action: At the time of writing, SafeMoon’s native token SFM SFM/USD was trading at $0.00019, down 17% in the last 24 hours, according to Benzinga Pro data.