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Investigating vGHST: Suspension of POS and zkEVM Markets

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On April 28th, the Polygon ecological project 0VIX Protocol tweeted that it is working with security partners to investigate what appears to be related to vGHST. Therefore, the POS

Investigating vGHST: Suspension of POS and zkEVM Markets

On April 28th, the Polygon ecological project 0VIX Protocol tweeted that it is working with security partners to investigate what appears to be related to vGHST. Therefore, the POS and zkEVM markets have been suspended, including the transfer, casting, and liquidation of oTokens. Currently, only POS is affected, but zkEVM has been temporarily suspended as a precaution and may be reactivated soon.

0VIX: We are investigating suspected cases related to vGHST and have suspended the POS and zkEVM markets

Introduction

On April 28th, 2021, Polygon’s ecological project 0VIX Protocol announced the suspension of the POS and zkEVM markets. This announcement was made following the discovery of suspicious activity related to vGHST. As a result, all transactions including transfer, casting, and liquidation of oTokens have been temporarily suspended.

What is vGHST?

vGHST is a virtual token used within the Aavegotchi ecosystem available on Polygon network. It is a non-fungible token (NFT), which means it is unique and cannot be exchanged for another token. The vGHST token is used to buy in-game assets such as gotchis, which are digital pets, and portals which are used to enter the game’s various realms.

The Investigation

According to 0VIX Protocol, they are currently working with their security partners to investigate the suspicious activity related to vGHST. The purpose of the investigation is to identify the root cause of the issue and prevent any further attack on the system. As a precautionary measure, both POS and zkEVM markets have been suspended temporarily.

The Suspensions

While only POS has been affected currently, including the transfer, casting, and liquidation of oTokens, zkEVM has also been suspended as a precautionary measure at the time of writing. However, it is expected to be reactivated soon once the investigation is complete.

What does the suspension mean for Aavegotchi Users?

Aavegotchi users cannot currently buy, sell or trade any oTokens. The suspension of the market has frozen these activities until further notice. Those who already hold these tokens on their wallets will still be able to hold and manage them, but they cannot perform any transactions.

What Happens Next

As of now, no timeline has been provided regarding the duration of the suspension of the POS and zkEVM markets. However, the investigation is currently underway, and the security team is working hard to find the root cause of the problem.
It can be assumed that suspension will remain in place until the vulnerability has been found and fixed to prevent further exploitation. Once the security team has identified the issue, further updates will be communicated by the project team.

Conclusion

In conclusion, it is apparent that the 0VIX protocol’s decision to suspend the POS and zkEVM markets is an important step towards ensuring the security of the Aavegotchi ecosystem. While the suspension may cause inconvenience to the users, it is a necessary measure to protect their assets. We hope that the investigation will conclude soon, and the markets will be reactivated soon.

FAQs

1. Will I lose my oTokens during the suspension?
No, holders of the oTokens will not lose their tokens during the suspension. They will still be able to manage their tokens, but performing any transactions with it is not currently possible.
2. How long will the suspension last?
There is currently no estimated time for how long the suspension will last. The suspension will continue until the security team is confident that the issue has been fixed.
3. Is this a common occurrence in the world of cryptocurrencies?
Unfortunately, hacking and fraud are common phenomena in the crypto industry, and the suspension of markets or projects in response to security issues is not unheard of.

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