Sonic Labs refunds over 500,000 USD worth of S tokens to victims of the Beets attack

Sonic Labs announces the completion of a partial refund to victims affected by the Beets vulnerability exploit in November, arising from an incident related to Balancer. According to the announcement, 5,829,196 S tokens, valued at over $500,000 USD, have been recovered and distributed proportionally to all affected users.

This move marks a significant step forward in efforts to remediate the aftermath and protect user rights following the security incident. Sonic Labs stated that the recovery and distribution process was conducted transparently, based on the actual extent of losses for each wallet address.

Although it has not fully compensated for all damages, this refund helps alleviate pressure on the community and demonstrates Sonic Labs’ commitment to risk management, enhancing system security, and collaborating with stakeholders to prevent similar incidents in the future.