Project's Price after got exploited

[raidarksword]

I have this token for two years now but it got me surprised today that it was exploited and got dumped to the ground by the hacker. The Poolz finance team announced that they will already taken action on the situation, halted the CEX trading, remove the remaining liquidity on DEX and flagged the hacker's address on explorer. Importantly they promised to fund the liquidity back of the exact amount  that the hacker stole. Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.



Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120

[Apocollapse]

Nope, if you look at the graph, you will see the price of this token keep dropping and never comeback to the previous price, especially when it's listed on the centralized exchange. So even though the case already solved, the price will not recover until people's trust back like when it's not get hacked. The situation is quite similar with the LUNA hack, the price is still very low and there's no recover until now.

[dbshck]

It's hard to predict what the price will be, but from what I understand, the amount stolen in the exploit isn't huge - somewhere between 200k-400k USD. The team has said that the project's treasury should be able to cover that amount without issue. Given that, I believe we could see some price recovery once the situation is resolved and the new token contract is deployed.

[Yogee]

[.....]Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.

Learn from the exploited projects from the past. There are many projects that attempted but the price never really recovered. Trust on the security of these platforms is vital on the valuation of these tokens so investors are likely to leave once that's gone.

It's a must for you to read the report on the hack if you're still going to support this. What part was exploited and was the team made aware of this vulnerability prior to the hack? Third party audits usually informs project owners but they get ignored too.

[zasad@]

I don't think you will be selling your tokens for 40 times less, but I have said many times that investments in shitcoins should have good risk management. Some projects will close or be hacked, the price of some project tokens will not increase. And if several projects give a good profit, then you will eventually earn.
Losses from hacking are small, it is likely that the project team will solve the problem.

[Kalchef]

Can't lie, I knew something was up when I saw news from Huobi exchange that they are delisting poolz, I was like WTF happened? I knew something bad must have happened, this is one of the reasons why Altcoins are not very safe, only those that don't put all their eggs in Poolz bags will feel at ease right now, it's very hard to predict what will happen that's why it's not a good idea to invest heavily on an altcoin project.  

[jacafbiz]

It is a very hard thing to predict because it depends on how the team manages the situation like this, and I don't think the project has any strong treasury to kick-start the whole project fresh, investors trust is gone and people will be very skeptical of touching the token, projects like Ethereum, and Compound have come out stronger from the situation like this but it would take a long time to regain that previous price if at all it is going to bounce back from this mess they team found themselves

[nara1892]

There are several conditions as well actually for this. Looking at the chart, they also have had quite a hard time facing a bear market and coupled with the large theft there, this has indeed made them fall even more.
Under these conditions, maybe the project owner will do a number of things to make the price return, but looking at the conditions of other projects which have previously experienced the same conditions as this, I think it is very difficult to return, it is even likely that it will not be able to return to normal.

[o48o]

Remember when people were scared to use CEXes because they steal your money and told everyone that next is the time of DEXes?

While i somewhat understand what their point is, most of the people don't. Just because something is a dex it doesn't mean it wouldn't be a one big security hole and bridges should be trusted.
Protocols gets exploited, that's the hard truth. There's just too much incentive for criminals to try to hack them rather not trying because the payoff and risk ration is way more appealing then hacking physical servers of cexes.

[blockman]

You can't tell if it will come back to its former price even if the liquidity will be provider by its developer. You know with these projects, they hide on the back of reasoning that they've been hacked and the hacker has dumped all the tokens to make it believe that they've got nothing to do with the project's price dump. It's up to you whether you'll believe those words and have hope for them but, sad to say that in the altcoin market, it's typical to see projects come and go. Value goes up for quite some time and then will be dumped in an instant by whoever's behind the liquidity of that project. I'm not discouraging you but that's one harsh reality of these projects and developers who have been working with projects and you should not expect anything from it anymore.

[Raflesia]

You can't tell if it will come back to its former price even if the liquidity will be provider by its developer. You know with these projects, they hide on the back of reasoning that they've been hacked and the hacker has dumped all the tokens to make it believe that they've got nothing to do with the project's price dump. It's up to you whether you'll believe those words and have hope for them but, sad to say that in the altcoin market, it's typical to see projects come and go. Value goes up for quite some time and then will be dumped in an instant by whoever's behind the liquidity of that project. I'm not discouraging you but that's one harsh reality of these projects and developers who have been working with projects and you should not expect anything from it anymore.

I think this is obviously going to be a bit difficult. It is rare to see a project that has been drained of funds return to normal as before and this may only happen for projects that are quite large. but for the current conditions, looking at existing projects, I think this is difficult, it tends to be impossible, especially when seeing them being hacked, this shows that they are still very weak, even though there will definitely be some improvements to this, but will we still be one hundred percent confident in its security again.

[rhomelmabini]

That's a huge dump for just $300k exploit, I think you'll be fine in no time if the project really care for the community. There are even millions being exploited and yet they recover, I think Poolz will be doing just fine if they act fast. New token has been made but likely you need to wait for an official announcement, just follow their socials OP.

[blockman]

You can't tell if it will come back to its former price even if the liquidity will be provider by its developer. You know with these projects, they hide on the back of reasoning that they've been hacked and the hacker has dumped all the tokens to make it believe that they've got nothing to do with the project's price dump. It's up to you whether you'll believe those words and have hope for them but, sad to say that in the altcoin market, it's typical to see projects come and go. Value goes up for quite some time and then will be dumped in an instant by whoever's behind the liquidity of that project. I'm not discouraging you but that's one harsh reality of these projects and developers who have been working with projects and you should not expect anything from it anymore.

I think this is obviously going to be a bit difficult. It is rare to see a project that has been drained of funds return to normal as before and this may only happen for projects that are quite large. but for the current conditions, looking at existing projects, I think this is difficult, it tends to be impossible, especially when seeing them being hacked, this shows that they are still very weak, even though there will definitely be some improvements to this, but will we still be one hundred percent confident in its security again.

Yeah, aside from the fact that they've admitted that they were hacked. Most investors of it have followed the dumping scene and that has reduced a lot of liquidity from them and not just that, but also the trust from those investors that have made their decisions to finally leave the project.
It's why I've said that OP should no longer expect anything from this project because it's a clear vision that it's already on that pattern of being dead. But who knows if the devs are truthful to their words and they can do something to drive its market off that dying path.
With what we've used to see from these projects, the devs have got some influence for their liquidity and market but somehow, this might be the point of their lives that they can't do anything with it anymore.

[Odusko]

One of the biggest mistake of small project tokens/coins is to get listed on multiple exchange when the token have not gain traction in the market, i have seen quite a lot of tokens that lost their value the moment their get listed on CEX exchanges.
Some coins are doing well being listed on one exchange because of their low traction their can easily survive on 1 exchange, but the point their get exposed to a market that os bigger that their liquidity, the posible of price drain up comes into play, that is why we have some coins prices getting drastically dopped due to this exposure.

[goaldigger]

They are going to release a new token which probably will be at the price before it get hacked, so if you are holding that token for 2 years now you are qualified to receive the new token plus a bonus as per their announcement.

Its good that the team taken action to abandon this Poolz and have a new token because the hacker still have the token which is no other way for him to sell that token because it has no value anymore. Better if you will join their official page and get the updates from them. Hope that they can survive on this one with their new token.

[Jackl87]

Nope, if you look at the graph, you will see the price of this token keep dropping and never comeback to the previous price, especially when it's listed on the centralized exchange. So even though the case already solved, the price will not recover until people's trust back like when it's not get hacked. The situation is quite similar with the LUNA hack, the price is still very low and there's no recover until now.

Obviously the price of the token has not recovered yet, because the team will create a new token and that old token will just be worthless from now on. There basically is no other chance in such cases most of the time, then to create a new contract and just give that new token to the holders that had the old token before the hack happened. As far as i know this new token is getting audited right now by certik and three other audit companies and should be ready for trading pretty soon.
A hack is definitely always a bad thing, but i think the Poolz team handled it as well as such a situation can be handled. We will see how the price will be once the new token is live.

[Johnyz]

Too bad for a good project like this, well they handled this fair and good as I can see, and they will continue doing IDO in the coming weeks.

Let’s just wait for their announcement about listing of their new token and what will be the price for its new token. You just have to be more patient and trust the team who are currently working double time to get back on track. This should be a biggest lesson to the team and I hope their new token will be more safe from any hack.

[Oilacris]

I have this token for two years now but it got me surprised today that it was exploited and got dumped to the ground by the hacker. The Poolz finance team announced that they will already taken action on the situation, halted the CEX trading, remove the remaining liquidity on DEX and flagged the hacker's address on explorer. Importantly they promised to fund the liquidity back of the exact amount  that the hacker stole. Now my question is, will the price will be back after they replenish the liquidity back on DEX and resume the CEX trading? The price was $4 before the exploit happen.

Hack announcement: https://twitter.com/Poolz__/status/1635900571512197120

No one knows, unless if there would be some buyback come from the team then it would possibly be able to get things in line back again but basing up on the amount affected then its better not to expect that much because when it comes to exploit and hacks then this is usually bring up the demise or disaster fully on a project.It is really not assured that things would go well afterwards.
It would be depending if they had successfuly hold off those hackers sell off and the account on CEX, but if not then its over it cant be that too easy
on making things back in track.

[Baofeng]

As others have said, it's hard to see where the price is going to be after the exploited because:

1. what are the chances that it will not happen again?
2. will the investors return their confidence in this project?

So as a investors it's very difficult decision to make right now, so it might take some time to see whether it can bounce back or be hurt by this exploit and never goes back to where it was before.

[serjent05]

If the developer does what they promised to give back the liquidity of the token then it is possible that the price will recover.  But if holders will dump their token while the developer is replenishing the token liquidity then it will be difficult for the token price to recover.  After all, no project will ever survive if it losses the trust of its community.

So the project token price might or might not recover depending on the reaction of the community and holders while the developer is trying their best to fix the problem