Matter Lab investigated the GemstoneIDO smart contract and took responsibility for 921 ETH worth $1.7 million.
Matter Labs, the organization that supports the zkSyne layer 2 scaling solution for Ethereum, has developed an elegant method to retrieve stranded money and unfreeze the contract.
The 921 ETH was thought to be permanently locked in a new smart contract, but Matter Labs refuted this and provided relief that the funds “will not be stuck forever”.
Not stuck forever. We are working with the team to help them solve the problem and will publish a detailed update in a bit. Tune in.
— zkSync ∎ (@zksync) April 6, 2023
The problem was caused by the .transfer() method in the GemstoneIDO smart contract, which is managed by the GemholicECO ecosystem.
Compiled by Coinbold