SafeMoon’s liquidity pool compromised

The liquidity pool for the DeFi project SafeMoon has been compromised, according to a March 28 statement by the project on Twitter.

The project said it is taking steps to resolve the issue but gave few other details on the matter. The ultimate cause of the incident is still unknown, and it is unclear how much cryptocurrency —- if any — has been stolen or recovered.

SafeMoon CEO John Karony (aka Captain Hodl) also retweeted the project’s initial statement on his own Twitter account without further comment.

The compromise comes at an inopportune time: SafeMoon recently promoted its security product, Orbital Shield. Though the issue does not seem to be related directly to Orbital Shield, the incident may not inspire confidence in the project’s wider security efforts.

SafeMoon’s native token (SFM) does not appear to have been within the hour following the news. As of 11:15 p.m. UTC on March 28, the token was down just 0.4% over the past hour. However, the token has lost most of its value since its January 2022 launch.

SafeMoon is a DeFi-focused project that aims to offer investors a way to earn interest in their investment through redistribution, LP acquisition, and token burns.

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