Posts

Quick update for the SPEW pool members.

avatar of @jk6276
25
JK
@jk6276
·
·
0 views
·
2 min read

Just wanted to let you all know that I will be working on unwinding the SPEW pool over the coming days. I'm sure by now you all know what has happened, but here is the link to the official LeoFinance post fer reference.

I found out about the hack while I was at work. I was unable to access funds to save what I could for 2 hours. As soon as I got home, I was able to withdraw all remaining funds from the WLEO / ETH pool. I managed to get the WLEO removed, and unwrapped them just prior to the WLEO site being taken down.

This time yesterday, The first bounty payout had been made, andthe total SPEW fund had just nudged over $10,000 in value. You can see the last post from @spinvest-leo here for all those details.

The plan now is to work out the dollar value we have saved, and return each contributers portion.

A current rough guide is that we now have:

  • 5.8801 ETH worth $2194.40
  • 49813.943 LEO - on HIVE Engine. LEO is currently trading on HE at $0.152 . This means on paper the value is $7571.719

This gives us a total saved funds of $9766.12 at the time I write this.

Looks like by getting the WLEO unwrapped before that service was shut down, we have saved the USD value of the SPEW pool (and - believe it or not, made a nice profit from the starting value just over 2 weeks ago). I can hardly believe it, but it seems to be the case.

I asked @khaleelkazi in the Leo discord if any fake WLEO had been unwrapped, and he said no. The Hive Engine LEO token value has held up remarkably well, and is a strong sign that this will just be a roadbump in the long run for LeoFinance.

I still can't believe it, but it looks like our $ value funds have been saved.

Amazing really.

I'll have more info soon about how the funds will be divided up, and when money will be repaid to investors in SPEW but for now it looks like we dodged a major bullet.

Thanks everyone for the support, I'll have more info out to you all ASAP.

Cheers for now,

JK.

Tagging all participants:

@spinvest, @jk6276, @tandara, @forexbrokr, @tbnfl4sun, @pouchon, @eirik, @shanibeer, @oakshieldholding, @jocieprosza, @josediccus, @roger5120, @stortebeker, @mistakili, @steemitromney, @underground, @dera123, @deflacion, @roleerob, @flemingfarm.

Posted Using LeoFinance Beta