wLEO: Hack Is Not The End

▶️ Watch on 3Speak


The hack of wLEO has the ability to crush the project. This is not going to happen in my opinion. We will see a situation similar to Tylenol in the 1980s where bad news was turned around on a much larger trend.

In this video I offer my thoughts of how Leofinance has its base use case to fall back upon and how it will prevail due to the development that is taking place.

Bear in mind this is not an official announcement in any way. This is simply my thoughts on the matter which are speculative in nature.


▶️ 3Speak



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14 comments
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Your current Rank (28) in the battle Arena of Holybread has granted you an Upvote of 20%

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Bang, I did it again... I just rehived your post!
Week 26 of my contest just started...you can now check the winners of the previous week!
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Luckily we're a small and dedicated community and a small sum was stolen. We'll be back in the saddle in no time.

Posted Using LeoFinance Beta

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It is true that it wasnt the largest of hacks but for a small community, $100K is still a good sum of money.

We will prevail though.

Posted Using LeoFinance Beta

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You received more than 640000 upvotes. Your next target is to reach 650000 upvotes.

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Nice video @taskmaster, I was right there with you buying today. There is something about a vlog that hits home better than a blog. Thanks for putting this out there!

Posted Using LeoFinance Beta

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You're actually right, it's not the end we'd be back after patching things up, it came at a really terrible time but then we'll forge ahead still. I'm glad we're seeing a lot of dedication.

Posted Using LeoFinance

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Honestly, this situation was unexpected. But what I can say is LEO has much more into it. Besides loosing the calm as u stated is not really going to make it work right now. In fact if LEO gets little down once again (to yesterday's low) will dive in to get some as well.
Like many other LEO hodlers, I am in for long term as well. So this may be just a bump on the road but we have much bigger showcase to display. #LEO on the go!!

Posted Using LeoFinance Beta

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Summary:
In this video, Task discusses the hack of WLEO on the LEO finance platform. He explains the situation where a hacker increased the amount of WLEO available by manipulating LEO, enabling them to sell the LEO for Ethereum. Task clarifies that the hack was specific to Ethereum and Uniswap, meaning LEO and Hive were not directly affected. Task emphasizes the resilience of the LEO project, highlighting that despite setbacks, the community and development are still intact. He compares the situation to a pharmaceutical hack in the 1980s involving Tylenol, which rebounded due to quick and transparent action. Task encourages community engagement on LEO Finance and expresses optimism about the project's future despite the hack.

Detailed Article:
In this video, Task addresses the recent hack of WLEO on the LEO finance platform. He begins by highlighting the absence of an official announcement from the LEO Finance team and describes the ongoing efforts to prevent further damage to the platform. Task explains that the hack targeted WLEO on Ethereum and Uniswap specifically, reassuring users that LEO and Hive were not compromised in the incident.

Task provides insights into how the hack occurred, where a hacker was able to increase the supply of WLEO by manipulating LEO tokens, subsequently exchanging them for Ethereum. He stresses the importance of community unity during such challenging times, urging users to focus on what they can control within the LEO Finance platform, such as creating quality content and engaging actively.

Drawing parallels to the Tylenol cyanide incident of the 1980s, Task emphasizes the significance of quick and transparent responses to crises. He believes that despite the setback, the LEO project will emerge stronger if development continues. Task acknowledges the financial impact of the hack on users, emphasizing the inherent risks of dealing with decentralized systems and the presence of unethical actors in the cryptocurrency space.

The video concludes with Task expressing optimism about LEO's future trajectory, reaffirming his belief in the resilience of the project and its community. He encourages users to remain positive and highlights the potential for growth and development despite the recent hack. Task's overall message conveys a sense of hope and determination in the face of adversity, underscoring the long-term viability of the LEO Finance project.

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