Bondly Finance Update | Bondly was compromised on July 14th
Bondly Finance announced they had been compromised
A few days ago, I published this regarding Bondly Finance, where they reported that the issue. Reading through the comments on their Tweets, it was questionable if this was truly what happened or that there was more to the story. Maybe this was an inside job and a rug pull had happened instead. I decided to give it a few days before I would write this follow up article to see what the status is and what we know today.
I personally didn't hold more than a small bag of Bondly anymore, as I sold the rest to take profits and left this part for longer term. That doesn't mean I don't follow the project anymore and check on the status sometimes. I'm glad I'm not one of the people that had a lot of money invested in Bondly as I read quite a few comments of those who did. Let's see what has been communicated since if things are looking suspicious or (hopefully) more positive.
Bondly's Tweets
Bondly adviced token holders to stop buying or selling their tokens and wait until more was announced. I also saw quite a few people tried to DCA their investment by buying and selling. I guess that worked out for some, others were probably already too late to do this as the price had tanked since the first Tweets came out, some probably noticed the fuzz too late..
After their announcement, Bondly Finance received support from Bridge Mutual:
When I read this, I could not help but think this should be a good sign, as far as I know, Bridge Mutual is a solid project.
They say they will reissue tokens to those that lost liquidity, some people question this as it turns out Bondly isn't very responsive to those questioning things in their Telegram channel. This can mean they are too busy figuring out what happened, which is possible, I guess, but it can also still be a bad sign. You'd think they have someone to make sure communication to the media is done properly after such a matter. They can lose trust from their investors which would be a disaster for the project if they are truly compromised.
And then there was this Tweet
The first thing that came to mind reading this, is that the person on leave is the suspect of an insider job. But then again, reading temporary, voluntary leave of absence made me doubt that again. Reading throug the comments, I found this:
This person in the comments, is someone that has been actively asking questions below Bondly's tweets, as far as I've seen so far without any response. I think it's questionable to introduce a new CEO without even a linkedin profile or any other info. But again, this may be caused by the current amount of work that came with the situation.
Either way, I think it can still go both ways. I hope for the investors that Bondly has nothing to do with it. Any thoughts on the status? Please feel free to leave a comment below.
Have a great weekend!
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