Dodow·May 20, 2024

Official statement on vDOT incident

Bifrost put out an official statement to reassure users. - Incident was caused as a result of a user losing private keys. - A large amount vDOT was swapped out causing a slippage and price impact. - The depeg from the impact gave way to arbitrage opportunities. - Operations now smooth as the swap pool has now stabilized. - Bifrost's SLP is decentralised and is working as it should. Unfortunately the upper limit of unstaking vDOT was tested. - Underlying staked DOT is safe - Bifrost are trying to help the affected user.