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DeFi Protocol Compound Begs Users to Return Accidental $90M Payout

DeFi staking protocol Compound accidentally doled out about $90.1 million during a recent upgrade, according to a CNBC report Friday (Oct. 1), and founder Robert Leshner is now pushing those who grabbed the unintended windfall to return the cryptocurrency tokens that don’t belong to them.

“If you received a large, incorrect amount of COMP from the Compound protocol error: Please return it,” Leshner tweeted late Thursday (Sept. 30). “Keep 10% as a white-hat. Otherwise, it’s being reported as income to the IRS, and most of you are doxxed.”

If you received a large, incorrect amount of COMP from the Compound protocol error:

Please return it to the Compound Timelock (0x6d903f6003cca6255D85CcA4D3B5E5146dC33925). Keep 10% as a white-hat.

Otherwise, it’s being reported as income to the IRS, and most of you are doxxed.

— Robert Leshner (@rleshner) October 1, 2021

Compound installed an upgrade Wednesday (Sept. 29) that led to the glitch.

“The new Comptroller contract contains a bug, causing some users to receive far too much COMP,” Leshner also tweeted.

He added that it could take seven days for a fix to be implemented.

Soon after Leshner’s tweet, someone claimed $29 million worth of COMP tokens in a single transaction. Another user claimed that they added 70 million COMP tokens worth about $20.8 million into their account.

Compound is the world’s fifth-largest DeFi protocol, with a total value of $9.65 billion, according to DeFi Llama, which provides ranking and metrics for DeFi protocols.

Related: DeFi Player Paystand Raises $50M To Digitize B2B Payments

B2B payments blockchain-based company Paystand recently raised $50 million in a Series C funding round, according to a press release, which says the fresh capital “reflects the company’s triple-digit growth as it leads the movement for an open commercial finance system.”

The company uses the Ethereum blockchain to operate what it calls the Paystand Bank Network, “a digital, highly secure B2B payment network with zero fees.”

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