friesDAO (🍟,🍟)

FriesDAO raise closes with $5.4M! $FRIES claiming is expected to be this Tue/Wed. As a Wyoming DAO LLC, a Notice of Intent to issue tokens is being filed this Monday. An Operating Agreement has also been released, which recognizes all $FRIES holders as co-owners of the DAO.

Community members have introduced a proposal to salvage friesDAO Review and vote at: snapshot.org/#/friesdao.eth… Start date Jan 9, 2023, 8:53 PM End date Jan 12, 2023, 8:53 PM

The $FRIES staking contract has been restored (etherscan.io/address/0x8499…). Previous stakers can now unstake $FRIES if desired at fries.fund. $KCHUP emission was unaffected.

We are currently offering a reward bounty of up to $450k for information that leads to the successful retrieval of the stolen funds.

$2.3M of stolen treasury is currently being converted to $ETH by the exploiter: etherscan.io/address/0x6B88… We encourage all members to keep an eye on this account as we build gating/identification measures around this wallet. @binance @Coinbase @FTX_Official @Gemini @cryptocom

Please see our post mortem report of the recent exploit. docs.google.com/document/d/1xK…

There are some suspects identified but evidence is so far circumstantial and thus may require the assistance of US authorities. If the exploiter is reading this, we offer the opportunity for you to anonymously return the funds before we begin this process by EOD Easter Time. 2/2

While internal and on chain investigations are still ongoing regarding the exploit, as a US entity, we have the obligation to report this theft of funds to FBI's IC3 for further investigation and to prevent the hacker's wallet from entering liquidity with the stolen funds. 1/2

Uniswap LP multisigners have temporarily unstaked the pool which contains the compromised $FRIES that rightfully belong to stakers, and have sent it to our hot wallet to be sorted. Further info to follow. LP will be restaked accordingly after all tokenomics+security is reviewed.

A more extensive explanation of the hack will be provided after we conclude our analysis, as well as to draft a recovery plan to enable us to move forward. Thank you for your patience. At this time we do not recommend trading the Uniswap pool until the plan is implemented.

@Babushka_Nike Please visit the discord announcement channel for more info.

@friesdao Could you please post the exploiter's address?

It has come to our attention that the refund deployer contract was exploited and managed to obtain FRIES tokens which were subsequently refunded for USDC and sold into the Uniswap pool. This is an ongoing investigation; exploiter is invited to contact us for dialogue.

@BlockSecTeam The exploiter did not transfer ownership of the contracts and we have now taken control of the deployer contracts, but thanks.

We confirmed that @friesdao deployer address (0x6B20EAE3B2F21cDA2d5a8EA123AE262C86a6DF99) is vulnerable to the profanity vulnerability. The private keys can be recovered. We are offering a "Profanity Rescue" service to help the DeFi projects to check whether their EOA are at risk

A post-mortem report will be released shortly, followed by a plan afterwards in how to move forward. We are still in the process of negotiation acquisitions so a successful deal is still possible with the right plan. Also, contract exploits are currently patched.

@CynthiaMLummis Wyoming, represent.

Today’s news should disprove the bologna MMT (Modern Monetary Theorists) are slinging. We cannot print money infinitely without consequence. To learn the lesson means to STOP reckless spending and CUT federal expenditures.

After consideration by @friesDAO, the latest $FRIES proposal (snapshot.org/#/friesdao.eth…) has passed the financial due diligence stage. We're now moving into the operational due diligence stage and will enter an exclusive negotiation process with sellers of the candidate store.

$FRIES members have completed financial due diligence on our NYC candidate store. Please review the findings in the latest community proposal and cast your vote towards moving into the next phase by end of Thursday September 29th 11:59pm ET/8:59pm PT: snapshot.org/#/friesdao.eth…

$FRIES members have spoken -- we are to move forward with the acquisition! Letter of Intent goes out today to the seller while we begin in-depth due diligence before closing the deal.

100% unanimous yes vote so far! Only 12 hours left to vote with your $FRIES at snapshot.org/#/friesdao.eth…

Snapshot proposal is now live for potential acquisition of our first store. Review the store information in the members app and cast your $FRIES vote to move into letter of intent stage! Deadline is end of Sunday August 28th. snapshot.org/#/friesdao.eth…

@JeffBezos Always have a job reserved for you here, Jeff

My first job. And still the same great burger. Happy Sunday!