Dec 15, 2025
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Aevo Suffers $2.7M Loss from Ribbon Vault Hack, Faces User Backlash
Aevo confirmed a $2.7 million loss due to an oracle-related smart contract vulnerability affecting its legacy Ribbon DOV vaults.
- The exploit occurred on December 12, leading Aevo to disable all Ribbon vaults and initiate a capped recovery process.
- The DAO plans to liquidate remaining assets to compensate users up to 19% of the lost amount or the remaining balance, whichever is lower.
- Blockchain analysts identified the attack path involving a decimal-mismatch bug in the oracle configuration.
- The attacker exploited this bug to manipulate expiry prices for various assets, draining the vaults.
- Aevo's token value dropped by 7%, with the current price at $0.041 per token, far below its all-time high.
- Community backlash over the 19% reimbursement plan has been significant, with criticism over the perceived unfairness to early depositors.
- Comments have been limited on Aevo's posts, directing users towards a formal claims process instead.
- Institutional concerns highlight both the technical and governance risks now associated with Aevo's products.