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Promote with Leviathan NewsA pseudonymous developer for the Convex/Resupply ecosystem, known as C2tP, has personally contributed about 1.41 million reUSD (roughly $1.4 million) to reduce the bad debt created by Resupply’s June 2025 exploit. On-chain data shows a transaction of 1,407,736.68 reUSD sent to Resupply, which community reporting attributes to C2tP and characterizes as coming from his own funds. A Resupply co‑founder, posting under the name Winthorpe, publicly highlighted the transfer as an example of the developer’s commitment to the protocol and its users. The donation is part of a broader recovery effort after an attacker exploited a misconfigured ERC‑4626 vault/oracle to drain roughly $9.3–9.8 million from Resupply, a stablecoin lending protocol that operates as a sub‑DAO of Convex Finance and Yearn Finance. The attack allowed the hacker to donate a small amount of crvUSD to an almost‑empty vault, artificially skew the exchange rate toward zero, and then borrow about 10 million reUSD without effective collateral. Following the incident, Resupply faced around $10 million in bad debt, depegging pressure on reUSD, and a sharp fall in total value locked, prompting a recovery plan that included using its insurance pool, community measures, and now substantial personal support from a core developer. This kind of developer-funded recapitalization is notable in DeFi, where post‑exploit outcomes often depend on whether teams and stakeholders are willing and able to absorb losses to restore confidence in the protocol.
AI-generated background, compiled from web sources — not editorial content.
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