The cryptocurrency project ran away when something went wrong, but this project is doomed It is not uncommon for coin circle projects to have accidents, but there are really few teams who dare to stand in front of the stage and calculate the accounts clearly, without pretending to be dead or running away after the accident. Last month, KII experienced this once. On August 22nd, the attacker exploited a vulnerability in the Cosmos EVM shared module and made 18 consecutive attempts, extracting approximately 148.3 million KIIs. Let's sneak in! ⬇️ After the incident, we must first clarify what happened. Later on, the review made it very clear that the vulnerability was not in Kii's own application code, but in the upstream shared module. The losses caused by this incident have also been confirmed. There are about 80.73 million tokens frozen on the chain, accounting for 54.4% of the total, which can be recovered through technology. In addition, about 67.6 million tokens have been transferred to BSC, most of which have been sold, and the actual cash out is about 1.6 million US dollars. The numbers are ugly, and the narrative is even uglier. Stablecoins such as FX, cross-border settlement, and 24/7 on chain currency exchange rely on trust to make a living. When the chain stops, the market's first reaction is usually: the project cools down, the team runs away, and the currency returns to zero. Who dares to use this? It's unbelievable that @ KiiChainio didn't follow this script. On the day of the chain suspension, it was synchronized with the outside world, and two days later, a complete accident report was released, which explained in detail how to dismantle the losses, which ones can still be traced, how to upgrade, and how to block the attack address. CEO Danyel @ DanyelArenas continues to use Space without hiding or pretending to be dead. The crisis management of most projects involves three tactics: deleting tweets, throwing blame, pretending to be dead, and waiting for the spotlight to pass before changing the skin. Kii has taken a dumber path: open communication, fixing according to the list, and continuing to negotiate cooperation. So I don't really want to define the price of this wave of KII as' cheap because it's hacked '. A more accurate statement is that the market experiences trading panic first, followed by trading execution. Looking directly at the K-line chart, it became apparent that the issue had been fixed. Essentially, it was not a sudden improvement in mood, but rather the team's use of actions to answer the question of whether they could still survive. Of course, recovery does not mean that the fundamentals have been priced out. The blame for the upstream module can be thrown away, but you still have to bear the risk of choosing your own technology stack. What really needs to be seen next is whether the payment and FX businesses continue to run. The projects that can survive in Crypto are often not those that haven't had any incidents, but those that have been ongoing even after they have. Kii has at least implemented this one in the past month. respect Wish us good luck! / Author: Anymose | A Soft Core Science Popularization Writer This article is for educational purposes only and does not constitute any investment advice. Always remember DYOR!