On Monday, August 12th 2024, the iVest DAO suffered a donation attack by a bad actor that caused the loss of the majority of the liquidity pool assets. The total loss of $156,309.94 or 305.23 BNB is not recoverable and there is no method to replace it back to 100% with the personal funds available to the team. We are unable to continue operations and are refunding our holders out of our own pockets.
iVest was the result of more than 2 years of effort by a dedicated team of friends. We onboarded more than 60 friends & family members into the community, teaching many of them how to invest in cryptocurrencies, securely use crypto wallets and manage their funds. We achieved a 10x price increase over just a few weeks of operations, an outstanding success for our small team. There was much more to come, many features and improvements planned, some recently completed and ready to launch when our dream was stolen from us.
The dream of a small but vibrant community has been crushed. We were an honest team with plans to be here growing and shepherding this project for many years to come, and that has been taken away from all of us.
We had a lot of fun while it lasted and learned a lot. Many tears have been shed. We are hurt and defeated, but we will pick up the pieces and move on with our lives.
Rest in peace, iVest.