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After an exploit last night that raised $ 11 million in stablecoin DAI vault project, cryptocommunity members from multiple projects have gathered to mitigate the securities, reclaim exploited funds, and repay affected users.

First reported by the project at 5:09 p.m. EST, the abuse was a complex arbitration attack on Yearn’s version 1 DAI yield vault. According to a revelation published by Yearn this morning, the exploit – which spanned more than 160 nested transactions and was named one of the most complex to date – netted the attacker $ 2.7 million in profit and the vault cost $ 11 million in DAI.

But just as Yearn’s core contributors are often among those who gather in the wake of other exploits projects, the crypto community is coming to help.

Shortly after the vulnerability was revealed, stablecoin Tether CTO Paolo Ardoino announced in a Tweet that the company had frozen $ 1.7 million in stolen funds, which are believed to be returned to the project.

Likewise, senior Yearn core developer Banteg has informally proposed to the MakerDAO community to create a purpose-built collateralized debt position (CDP) to heal affected users.

If the proposal goes further, the CDP will be funded from the 6666 YFI tokens struck this morning after a spiteful debate over the creation of a Yearn treasury.

“We’re considering opening a cdp with the beaten yfi to fix the vault,” Banteg wrote in the MakerDAO chat shortly after the exploit last night. “The share price can be reversed by flying 11 million dai to it.”

In a statement to Cointelegraph, the semi-anonymous core contributor Tracheopteryx noted that the proposal is one of many “original ideas” and that “nothing has been decided yet”.

“Many people in our community were brainstorming last night about possible responses to the 11 million yDAI vault exploit […] One option is to open a new CDP at Maker for YFI, deposit some of our newly minted tokens, mint DAI, and then pay that DAI into the yDAI vault. After this, we were able to pay off the debt with fees over time, ”he said.

So far, the MakerDAO community seems to support the idea. An informal one poll shows 93% support for creating a CDP of 28 voters. Likewise, commenters in MakerDAO’s chat pointed to the potential marketing benefits of stepping in to help another DAO, as well as the historical nature of such a proposal.

The historical implication seemed to excite Banteg particularly:

“Saving Daos Daos is the future we deserve.”

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