Dear Moguls,
BitMart has committed to a STARS repurchasing plan after suffering a security breach last week. Mogul has taken the last week to speak with BitMart and our key partners to establish a transparent path forward.
On December 4, cryptocurrency exchange BitMart experienced a security breach. The Mogul Productions team identified the breach early on (before BitMart) and acted quickly.
- We worked with the AnySwap team to immediately pause the bridge from ERC20 <> BEP20, cornering the hacker and isolating the problem immediately.
- Working with our partners, we created a comprehensive action plan to prevent loss and minimize the impact on our users.
Mogul Crisis Confidence Plan:
We are committed to supporting BitMart in the best interests of our users and to help where we can. We appreciate our community’s patience, support, and discussion on this topic. Our highest priorities were to ensure our community members were compensated by BitMart and the longevity of STARS – the token that powers the Mogul ecosystem.
- BitMart has committed to a $STARS repurchasing plan to compensate users
- BitMart has told Mogul they are working with the FBI, top world security firms, and asset managers to make sure they minimize the impact and recover the funds that were stolen and other externalities caused by their security errors.
- Mogul will work with AnySwap to reopen the ERC20 BEP20 bridge contract.
Read our Crisis Confidence Plan detailing the path forward.
We will be hosting a Telegram AMA on Monday, December 13th, at 12:30PM PT/3:30PM ET if you have any questions regarding this. Make sure to send in your questions and join our Telegram: https://t.me/mogulproductions
Regards,
The Mogul Productions Team
ANNOUNCEMENTS
We’re joining Hacken Link and becoming a part of their growing network of partners. This will further expand our connections in the crypto and Metaverse landscape.
THIS WEEK ON SOCIAL
Did you miss our AMA with ‘The Simpsons’ and ‘Mogies’ animator Erick Tran? Catch up on the recap here!
On Twitter? On December 7th, Mogul hosted Twitter Spaces with co-founder of BiShares Finance DeFi Vlad to talk about BiShares and the Blockchain Metaverse Alliance.
On Discord? Mogul hosted an AMA on December 6 with Weso, Strategy Leader and developer for Beefy.Finance. If you missed it, you can view the AMA recap here!
On December 8th, Mogul hosted an AMA with DeFi Vlad, Co-Founder of BiShares Finance for our community to connect with him. Catch up on the AMA recap here!
On Instagram? On December 9, Mogul Live hosted Joyce Chow, founder of iHollywood Film Fest and partner at Tri Star Continential Distribution. They were the first film festival to offer NFTs to the winners! View the replay here.
If you don’t already follow us, you should! We’re on every channel, and you’ll stay informed on all the opportunities to participate in giveaways, win prizes, and you’ll be first in line for information on new drops.
