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GMGN Pledges Full Compensation for BSC DOOD Token Losses

GMGN Pledges Full Compensation for BSC DOOD Token Losses

Coinlineup2025/05/12 01:22
By:Coinlineup
Key Points:

Points Cover In This Article:

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  • Technical problems
  • Market reactions
  • DeFi sector’s vulnerability
    • Importance of robust technical systems
  • Haze commits to compensating DOOD token losses.
  • Tokens affected on BSC network under repair.
  • Market impact as DOOD trades decrease by 14.72%.
Technical Issues with DOOD Token Transactions on BSC

Lede: GMGN Lianchuang co-founder Haze reported on May 11, 2025, that DOOD token transactions on Binance Smart Chain suffered issues, causing user losses in specific scenarios.

Technical problems

NUT GRAPH: Technical problems affected DOOD token transactions on the BSC, with GMGN Lianchuang vowing to compensate losses. Haze, the company’s co-founder, publicly addressed the issue, promising full repayment after fixing the technical problems encountered. According to Haze , “According to user feedback, there was a problem in the DOOD tokens of BSC transactions, which caused users to suffer losses in certain specific trading scenarios. This type of problem is currently being repaired. After the repair, the losses of the relevant users will be counted and full compensation will be made, and the compensation will be directly transferred to the GMGN trading wallet.”

Market reactions

Market reactions were swift, with the DOOD token losing 14.72% of its value and a 70.73% drop in trading volume. This swift decline affected only DOOD on BSC, without reports of wider impacts on other cryptocurrencies like ETH or BTC.

DeFi sector’s vulnerability

The incident underscores the DeFi sector‘s vulnerability to technical glitches, prompting swift compensation plans similar to previous events in the Solana ecosystem. Future implications may include increased scrutiny or regulatory attention toward DeFi’s capability to handle such incidents effectively.

Importance of robust technical systems

DOOD token trading issues on the BSC highlighted the need for robust technical systems in decentralized finance. Analyzing incidents like these can shape future regulatory and technological approaches to improve market stability and trust.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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