I am a depositor in the USDC Lower Risk Vault that was affected by the recent exploit.
Following the incident and the announced shutdown of the protocol, I would appreciate receiving clarification regarding the current status of user funds and the next steps for affected depositors.
In particular, I would like to know:
The current status of the affected vault and its remaining assets.
Whether a recovery, reimbursement, or compensation plan is being prepared.
The estimated timeline for any future distributions to affected users.
Whether users need to take any action at this stage.
Where official updates regarding the incident and the liquidation process will be published.
As a user directly impacted by the exploit, I would appreciate as much transparency as possible regarding the losses, the recovery efforts, and the expected outcome for depositors.
Thank you for your time and I look forward to your response.
If it’s possible, i would talk with the team. I don’t know how to get informations.
I am in the same boat as the OP and I would also appreciate an update on the situation and recovery, reimbursement, or compensation plan. Very hard to find any info on x, discord or other sources so would appreciate an update, or at least when an update can be expected.
Hello and thank you for reaching out. There are ~13 onchain DAO votes (queued atm) that are addressing offboarding of inactive arks and unpause-ing vaults (that will become withdraw-able, once executed). These are focusing on all of the vaults, besides Ethereum USDC LR and HR.
These vaults have not been affected by the exploit and depositors will be able to withdraw their funds in full upon successful crosschain execution of above mentioned proposals (~22.07.2026).
When it comes to the affected vaults (Ethereum USDC LR and HR) - there are two onchain proposals ([SIP1.7] & [SIP1.8]) - recovering ~$4.3M from the paused vaults that are allocated to Syrup, Term Finance & Origin.
These proposals have passed, were executed on Base; and are awaiting crosschain execution that can occur as early as 9AM UTC, 21.07.2026 on Ethereum Mainnet.
This is the first step of recovery. Once executed onchain, followup proposals have to be established to move all recovered funds from the 2 affected vaults to Merkl campaign, where affected depositors will be able to recover ~40% of their deposited value (due to post-incident socialization).