Soham Pal

Just In: Hackers minted 1 billion DOT tokens on the Ethereum mainnet and then sold them off. According to Certik, the attack was primarily due to a Hyperbridge gateway vulnerability, which allowed attackers to forge messages and manipulate the administrator of a Polkadot token contract on Ethereum, profiting approximately $237k.

🧑‍💻 An Update from the CEO Over the last two days, we made the decision to continue — and more importantly, we acted on it. We have already restructured the company and reduced operating costs from roughly $400,000 per month to around $45,000 per month. This was not easy, but it was necessary. We moved fast, cut deep, and focused only on what is essential. The last four years taught us many lessons, but one stands above all: A good idea means nothing if execution is too slow. That is the lesson we are taking forward into this next chapter. Our priority now is simple: focus on a fresh direction that can rebuild trust in the community while also generating real revenue for the company. We are no longer interested in wasting time, energy, or capital on anything that does not directly move us closer to product-market fit and sustainable growth. I will personally be joining the development effort to help bring this next product to market as fast as possible and to work directly with the team on execution. We are not going to repeat the mistake of overpromising before delivery. We will not reveal what we are building until it is ready. For those who still believe in us, stay with us a little longer — and when the time comes, we will show you. To move faster, we will be building this product in a closed-source environment during development. That decision is purely about speed and execution. Right now, shipping matters more than optics. Once we are live, we can focus on opening things up properly. We are now a smaller team, made up primarily of developers, and our time will be spent exactly where it should be spent: building. No distractions. No wasted effort. No unnecessary overhead. Just execution. Whether people choose to stand with us or not, we are moving forward with this plan. We are going to take this shot and see it through. Once the product is live, it will be something that can be marketed far beyond the crypto industry, which gives us a much stronger path toward real adoption and sustainable company revenue. At this moment, the company still holds a little over 1 billion $ION. These tokens will be used only to cover essential development and infrastructure costs. Because the previous service agreement has ended and that external funding is no longer available, we will be activating an automatic daily sale of $1,500 worth of tokens to help fund operations at the current market price. This is not a choice we make lightly, but it is the practical path that allows us to keep building over the coming months. Over the next 4 to 8 weeks, you should expect to see major changes across the website, the whitepaper, and most importantly, the launch of the first version of the new product. Our goal is clear: go live fast, get real feedback fast, and scale 10x faster than we did in the past. What we are building is a real utility product with real-world use, something unique within crypto and something we believe the market genuinely needs. Once it goes live, we believe adoption can accelerate faster than anything we have done before — because for the first time, our growth will be driven by real utility and real demand, not just belief alone. To everyone who has stood by us for the past four years: thank you. Give us 4 to 8 more weeks. That is all we ask. Stay with us, watch what we build, and witness how we turn the hardest moment in this project’s history into the foundation of its strongest chapter. We are still here. We are still building. And we are not done yet. Thank you for the support.