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MEXC Completes POOLZ Compensation for Affected Users

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MEXC

Dear MEXCers,

According to POOLZ's official announcement, the staking contract of the POOLZ project was attacked at 2023-03-15 03:09 (UTC). MEXC immediately suspended POOLZ deposits, withdrawals, and trading after confirming with the project team. Poolz Finance announced that they will issue a new token called POOLX and airdrop POOLX tokens. To reduce losses for affected users, MEXC supports the POOLZ team's compensation plan and has completed airdrops for affected users. You can check airdrops in your [Wallet>Spot].

1. Compensation Plan for Users before the Attack:

POOLZ holders will receive POOLX airdrops based on their POOLZ balances snapshotted at a 1:1 ratio. Details are as follows:

  • Snapshot time: 2023-03-15 03:09:00 (UTC) 
  • Airdrop ratio: 1:1
  • Distribution: One-time distribution

II. Compensation Plan for Users after the Attack:

Users with a net buying amount of POOLZ greater than 0 USDT between 2023-03-15 03:09:00 (UTC) and 2023-03-15 04:50:00 (UTC) will get POOLX airdrops at a ratio of 13:1. The details are as follows:

  • Compensation ratio: 13 POOLZ = 1POOLX
  • Compensation distribution: 30% of total compensation will be distributed as the first compensation, 30% will be airdropped in the second month, and the remaining 40% will be sent in the third month
  • MEXC has completed 30% of the total compensation.

For Example: 

Between 2023-03-15 03:09:00 (UTC) and 2023-03-15 04:50:00 (UTC), User A reaches a net buying amount of 130 POOLZ. Then the POOLX amount he will get=130/13=10

Please note:

  • Snapshot scope only covers Spot accounts. The POOLZ holdings in sub-accounts will be included in their main account when snapshots are taken.
  • The snapshot balances do not include the POOLZ assets that have not arrived in the destination accounts, are in the withdrawal process, or are already sold in spot trades at the snapshot time.
  • Deposits, withdrawals, and trading for POOLZ will be resumed once we confirm with the project team that all related security issues have been solved, which will be announced in a separate announcement.
  • Opening time for deposits, withdrawals, and trading for POOLZ will be notified in a further announcement. 

Thanks for your support!

 
Risk Disclosure
Start-up blockchain projects may face significant risks in operation, underlying technology, and legal and regulatory environments. Investing in such projects requires rich technical and financial knowledge to understand the inherent risks associated with blockchain start-ups. Before making any investment decisions, we recommend that you conduct thorough due diligence, evaluation, or seek advice from professional consultants.
The prices of digital assets related to blockchain projects exhibit high volatility and may fluctuate due to various factors. Investing in such projects may result in significant or total investment losses. Additionally, due to underlying technology of blockchain projects or cyber attacks, you may be unable to withdraw digital assets related to blockchain projects partially or completely. When deciding whether to invest in this project, please carefully assess the risks and make a decision based on your risk tolerance. MEXC does not guarantee or compensate for any investment losses incurred by you.
 

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The MEXC Team

31 March 2023