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Investigation Underway: Suspended Markets and Transfers on the 0VIX Protocol

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On April 28th, the Polygon ecological project 0VIX Protocol tweeted that it is working with security partners to investigate what appears to be related to vGHST. Therefore, the POS

Investigation Underway: Suspended Markets and Transfers on the 0VIX Protocol

On April 28th, the Polygon ecological project 0VIX Protocol tweeted that it is working with security partners to investigate what appears to be related to vGHST. Therefore, the POS and zkEVM markets have been suspended, including the transfer, casting, and liquidation of oTokens. Currently, only POS is affected, but zkEVM has been temporarily suspended as a precaution and may be reactivated soon.

0VIX: We are investigating suspected cases related to vGHST and have suspended the POS and zkEVM markets

The 0VIX protocol is an ecological project that is creating a decentralized derivatives trading platform with strong security measures. On April 28th, the project sent out a tweet stating that it was collaborating with its security partners to investigate what appears to be a potential security issue related to vGHST. The incident has resulted in the suspension of both POS and zkEVM markets, which has impeded the transfer, casting, and liquidation of oTokens. Currently, only POS is affected, but zkEVM has been temporarily suspended as a safety measure.

Details of Security Concerns

The 0VIX protocol has not released detailed information about its investigation. Nevertheless, the tweet indicates that the team is working diligently with security partners to explore the issue. The team is also providing updates to the community via Twitter to keep them informed.
While the precise nature of the security concerns is unknown, the community is speculating about several possible scenarios. Some believe that there may have been a vulnerability exploit in the vGHST mechanism. Others hypothesize that the issue may have stemmed from a smart contract flaw or a simple user error.

Immediate Impact on Markets

As soon as the 0VIX protocol team discovered the potential security issue, they immediately suspended trading on all affected markets. The suspension applies to the transfer, casting, and liquidation of oTokens, which is affecting the ability of traders to conduct their transactions.
The POS market was immediately suspended and has been unavailable since the discovery of the possible issue. Alternatively, zkEVM has been temporarily suspended for a period as a safety measure. The team is actively working on resolving the issue to reactivate zkEVM transactions as soon as possible.

What Does This Mean for Traders?

The suspension of transactions on the 0VIX protocol is causing concern for traders who are unable to complete their transactions. The inability to liquidate their holdings could lead to undesired losses. As a result, traders should remain patient and allow the 0VIX protocol team adequate time to resolve any security concerns before resuming trading.

Conclusion

In conclusion, the suspension of markets and transfers on the 0VIX protocol has created uncertainty among traders, leading to questions and concerns. The 0VIX protocol team is working diligently with its security partners to investigate the potential security issue related to vGHST. The 0VIX protocol team is actively providing updates via Twitter to keep the community informed of any progress.

FAQs

Q: What is the 0VIX protocol?
A: The 0VIX protocol is creating a decentralized derivatives trading platform with strong security measures.
Q: What caused the suspension of transfers on the 0VIX protocol?
A: The 0VIX protocol team discovered potential security vulnerabilities related to vGHST.
Q: How long will the suspension of transactions on the 0VIX protocol last?
A: The 0VIX protocol team is actively working on resolving the issue and will reactivate transactions as soon as possible.

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