Woolong Corp Native Token has been HACKED.

[davidpwebb]

Woolong Corp Native Token has been HACKED.

Woolong Token BEP20 Contract Address: 0xa49d72c0e11c7e7f1cf32b1eb0c9d3464a0a529a

Deployer Contract Address: 0xB3E653E286f0ecD2Fa8C8f9C6548759Efb2eBA63

In an effort to mitigate the damage to token holders a new BEP-20 token will be Minted and Woolong Corp will exchange 1 (WLNG) tokens for 1 new tokens (symbol to be determined). Send email to hack@woolongs.com with your current deposit address holding Woolong Tokens (Trade Symbol WLNG) and once the new token is minted you will receive the replacement.

Sorry for the inconvenience.

[Bitcoin_Arena]

It always has to be shitcoins, Lol 

Do you mind elaborating to us how the "hack" happened? Or the so-called hack is another term for rug-pull?
I pity people who waste their time and money on this shitcoins. It is a sea of debris out there 

[davidpwebb]

Sure, I'd be happy to provide more details. We hired a tech professional named Sam from Lagos, Nigeria to integrate Woolong Token into the Woolong Corporation Ecosystem. Unfortunately, due to his lack of experience, he was unable to complete the task successfully. We compensated him for the work he did before he was dismissed.

The first indication of a problem arose when we discovered that Sam had sold the 10,000 Woolong tokens that were given to him for testing purposes. This raised concerns about his actions and intentions.

As a Senior Board Member of the Cyber Security Global Alliance, I take security very seriously. We had implemented measures to limit access to our servers. However, Sam managed to inject malicious code into one of the initial versions of the Pay Woolong With MetaMask for WooCommerce plugin. This code went undetected during installation on our local development server, leading to a compromise of our Deployer account.

You can track the transactions of the compromised Deployer account at 0xB3E653E286f0ecD2Fa8C8f9C6548759Efb2eBA63. As you can see, a significant amount of Woolong tokens, over 92,000,000, along with most of the liquidity (approximately $500, not $500,000) were transferred shortly after the compromise occurred.

Fortunately, Woolong Corporation has primarily been using the token as a Proof of Concept and has not heavily promoted it over the past 18 months. We are currently focused on developing a bespoke blockchain with our native currency, Woolong, which is scheduled for release in the coming months.

As a remedy, current holders of Woolong ($WLNG) prior to the incident will be reassured to know that we are taking responsibility for the situation. As part of our commitment to resolving the issue and providing fair compensation, we will be issuing new Woolong tokens on a one-for-one basis to those who held Woolong prior to the incident. This ensures that their original holdings are preserved and that they can continue to participate in our upcoming developments and projects with confidence. We appreciate the support and understanding of our loyal community during this challenging time.

Regarding your question about a rug pull, I want to clarify that there was no intentional hype, investment attraction, shutdown, or disappearance associated with this incident. It was an unfortunate case of a compromised account and the subsequent loss of assets. We are actively taking steps to enhance our security measures and prevent such incidents in the future.

Sincerely
David Webb

[Mpamaegbu]

Sure, I'd be happy to provide more details. We hired a tech professional named Sam from Lagos, Nigeria to integrate Woolong Token into the Woolong Corporation Ecosystem. Unfortunately, due to his lack of experience, he was unable to complete the task successfully. We compensated him for the work he did before he was dismissed.

Those two I bolded didn't add up. It's contradictory to tag someone a professional but in the same breath say they lack experience. Except there's something else you meant there, which will be good for you to explain to us.

The first indication of a problem arose when we discovered that Sam had sold the 10,000 Woolong tokens that were given to him for testing purposes. This raised concerns about his actions and intentions.

This is the same thing bounty hunters suffer here. When such happens the dev teams will turn around to blame hunters for causing token price to dump and then deny them their remaining reward. Again, this makes it obvious what most projects plan ahead to do and that's why they wouldn't pay with stable coin or Bitcoin. Why pay with your native token when you know anyone it's paid to could dump it? If your team had paid the so-called tech dude with Bitcoin or any other stable coin, whatever selling action he took wouldn't have affected your project.

Regarding your question about a rug pull, I want to clarify that there was no intentional hype, investment attraction, shutdown, or disappearance associated with this incident. It was an unfortunate case of a compromised account and the subsequent loss of assets. We are actively taking steps to enhance our security measures and prevent such incidents in the future.

This will be on you to convince your investors with action, not mere rhetorics. Most devs embark on projects simply to rug pull, nothing else.

[davidpwebb]

As this conversation is public, I believe it's important for me to establish my identity and clarify my position within the Woolong Corporation. My name is David Webb, and I am the Founder of Woolong Corporation. You can find my credentials on LinkedIn at  https://www.linkedin.com/in/dwceo  

Furthermore, I am the Sole Trademark holder of the "Woolong" tradename, which can be confirmed through a search on the World Intellectual Property Organization (WIPO) website at https://www.wipo.int/reference/en/branddb

If you are an Anime fan, you may find this fact impressive and significant.

I personally have been working on the Woolong Corporation project since May 19, 2019, and throughout this time, I have not realized a single penny in revenue. However, I have incurred over $300,000 in expenses. This project is a true "labor of love" for me, and I want to emphasize that any insinuation of intentional shenanigans surrounding the theft of the entire Deployer treasury and Proof of Concept liquidity of Woolong Token is both baseless and deeply resented.

I am fully committed to the success of the Woolong Corporation and ensuring its integrity.

Let me clarify the points you raised.

I apologize if my previous statements seemed contradictory, and I thank you for bringing it to my attention.

In regards to Sam being described as a 'tech professional' despite lacking experience, I understand how that may appear contradictory. What I meant to convey was that Sam was hired based on his "represented" qualifications and skills as a tech professional. However, during his time with us, it became evident that he lacked the specific experience required for successfully completing the integration of Woolong Token into our ecosystem. While he possessed the foundational knowledge and skills of a tech professional, he faced challenges in applying them effectively to our project. I hope this clarifies any confusion.

Regarding your comment about bounty hunters and projects blaming them for token dumps, I understand the concern. It is true that in some cases, projects may shift blame without taking responsibility. However, it's important to note that responsible projects take precautions to mitigate such risks. In our situation, the discovery of Sam selling the tokens raised concerns about his actions and intentions, which led to appropriate actions being taken. To clairify, we paid Sam in Fiat USD. The Woolong we transfered to him was not as compensation for his efforts but to be used to test his integration of Woolong Token into Woolong Corporation ecosystem. Sam failing to return the Woolong Tokens to us after his dismissal is the indication I was refering to rregarding his intentions.

In relation to rug pulls, I want to emphasize that our incident was not an intentional rug pull. A rug pull typically involves deliberate actions by developers to deceive and defraud investors. In our case, it was an unfortunate incident of a compromised account, leading to the loss of assets. We are deeply committed to the security of our project and the trust of our investors. We are actively implementing enhanced security measures to prevent similar incidents from occurring in the future. We understand that actions speak louder than words, and we are dedicated to proving our commitment through tangible actions and results.

Thank you for bringing up these concerns, and please let me know if you have any further questions or require additional clarification.

[davidpwebb]

Also please note, we are currently in the process of developing the Woolong Coin, which will be a customized digital currency compatable with Ethereum Virtual Machine (EVM) and with smart contract capabilities. One of our primary goals is to ensure that the implementation of Woolong Coin does not lead to network congestion or a decrease in throughput, and can provide seamless integration into the Woolong Ecosystem.

Furthermore, we recognize the importance of creating a user-friendly interface, especially since a portion of our target market, outside of the Anime/Manga community, consists of non-tech savvy users. We want to ensure that interacting with Woolong Coin is intuitive and accessible to all users, regardless of their technical background.

I am open to discussions and collaboration regarding the completion of this project. If you have any ideas, suggestions, or expertise that can contribute to the development and success of Woolong Coin, I am eager to hear your insights.

My hope is that the users here on Bitcointalk.org can collaborate and contribute to the creation of this new and inclusive user-friendly digital currency experience.