Investigating vGHST: Suspended Markets and Next Steps

04/28/2023 12:16 • Tech Trends • 93 views

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

On April 28th, the Polygon ecological project 0VIX Protocol updated its community about an ongoing investigation into what appears to be related to vGHST. As a result of this investigation, the POS and zkEVM markets have been suspended, including the transfer, casting, and liquidation of oTokens. While only POS is currently affected, zkEVM has been temporarily suspended as a precaution and may be reactivated soon.

What We Know So Far

According to the 0VIX Protocol tweet, the security partners involved in the investigation are actively working on the issue. However, the specifics of what is being investigated and how vGHST is involved remain unclear.
What we do know is that the suspension of the POS and zkEVM markets is being taken seriously and the investigation will continue until the issue is resolved and deemed safe for users to resume trading.

Why the Suspension is Necessary

In a rapidly evolving crypto environment, security threats and vulnerabilities are constantly present. In response, exchanges and projects must have protocols in place to ensure the safety of their users’ assets.
In this case, the suspension of the POS and zkEVM markets is a necessary step to protect users from potential malicious activity. By temporarily halting trading, 0VIX Protocol and its security partners can investigate the issue and mitigate any harm that may come from continued trading.

Next Steps for Users

For users who were actively trading on POS and zkEVM, the suspension may be an inconvenience. However, it is important to remember that the priority is the safety of users’ assets.
Users should monitor updates from 0VIX Protocol and continue to exercise caution when trading on other platforms. Once the suspension is lifted on POS and zkEVM, users should proceed with caution and ensure that they are fully informed before making any trades.

Conclusion

As more information becomes available, the 0VIX Protocol community will be updated on the investigation and when users can expect markets to reopen. In the meantime, users should remain vigilant and prioritize the safety of their assets.

FAQs

Q: What is vGHST?
A: The specifics of what vGHST is and how it is related to the investigation remain unclear.
Q: When will markets reopen?
A: The reopening of markets will depend on the results of the investigation and when it is deemed safe to resume trading.
Q: What can users do in the meantime?
A: Users should monitor updates from 0VIX Protocol and exercise caution when trading on other platforms.

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