DANNY 🧸

BONKfun is back and here’s what happened 👇 On March 11, the BONKfun website was hijacked by a malicious actor via a social engineering targeting our domain service provider. This resulted in the domain being transferred to an external registrar. The domain service provider has accepted responsibility for transfer, and we have confirmed this incident was not the result of any compromise of BONK or BONKfun internal systems, codebase, or team accounts. Upon identifying the breach, we immediately took action to: 1) Disable the site 2) Coordinate with wallet providers to flag the domain as malicious 3) Contain further user impact We’d like to thank @phantom, @solflare, @MetaMask, @_SEAL_Org and all other security partners that helped spread the word quickly. We estimate the total customer losses at $30,000 and we will be reimbursing affected users at 110% of losses to account for opportunity cost. As a result of this social engineering on the domain service provider, the BONKfun domain was transferred to an external registrar, and that transfer greatly inhibited our ability to move quickly with relaunching the site in a secure manner. The domain and domain registration were fully transferred back around 5:00 pm Eastern time on 3/18. Full functionality with major wallet providers was restored late on 3/19, which has now enabled us to safely and securely relaunch the site. The main BONKfun domain is still experiencing flags from several antivirus software providers, we are working to remove these flags as soon as possible. For users experiencing issues with BONK.fun due to anti-virus software, letsBONK.fun is also live now and contains the same functionality as the main site.

an update on $SEA. the team has been building at full speed, and the foundation had planned to kick off the first steps as part of our march 30th event. but @openseafdn is pushing back the timeline. a delay is a delay. i’m not going to dress it up, and i know how it lands. the reality is that market conditions are challenging across crypto right now, and $SEA only launches once. @openseafdn could force the original date, or we could ensure every piece is in place and make this moment what this community deserves. we gave a tremendous amount of thought to how to do right here. I’m thankful to @HollanderAdam for bringing the community’s voice into every conversation. we’ll be doing the following: no more waves: the current rewards wave will be our last. optional fee refund: recognizing that we originally committed to a Q1 date, we’re offering refunds of the platform fees we retained while participating in the rewards waves (3 - 6) that followed our timing announcement. if you like, you can receive a refund of those fees, which when combined with treasure chest prizes, essentially means all of your trading during that period was on us. if you opt for a refund, the Treasures you were awarded during these waves will be removed from your account. details on this process will follow. honoring existing Treasures: for Treasures you continue to hold, our prior commitment stands: they will be meaningfully considered by the Foundation at TGE. this is independent from allocations for historical activity. 0% fees for 60 days: starting on march 31st, opensea will reduce our own token trading fees to 0%. we want to make it a no-brainer for everyone to experience our new platform: cross-chain token trading, mobile app, perps and more. after this 60 day period, we will put a new system in place that makes fees significantly more competitive for anyone trading consistently on opensea. product updates: while we’re postponing our march 30th event, we’ll host a separate one in the coming months focused on product updates. it’s been incredible to see the early responses to our mobile app, and we can’t wait to get it into more people’s hands. so if not now, wen? when we announced last year, it was too early. that created unnecessary uncertainty and reactivity. so when the Foundation sets a new timeline, it will be deliberate and specific. here’s why i’m confident that’s the right move: i’ve been building opensea for almost a decade. when this started, we were two people and the only thing you could trade on OS was cryptokitties. i’ve watched this space go from a niche curiosity to billions in volume to where we are today. the thing that’s carried us through every cycle was a willingness to make hard calls when it mattered. when our market crashed, we rebuilt from zero: an entirely new stack, a new product, and a new team culture. that hurt in the short term. but today OS2 is undeniably the strongest marketplace offering, and it’s the foundation everything sits on. we have huge ambitions as a company, and we’re here for the long game. making all of non-custodial crypto delightful on mobile is just the beginning. that means we have to set a very high bar for everything we do, and it’s why i’m so protective of delivering a launch that’s worthy of this community and everything we’re putting into this.