Reimbursement for stakefish 2022-12-07 Ethereum Incident

Hi, this is stakefish. We had an incident on 2022-12-07 affecting all of our Ethereum validators.

Here is our full postmortem of the incident.
https://stakefish.mypinata.cloud/ipfs/QmPao2FC7oVSRQ2kgKceYbJjzj69XjoEjgUnHyXCuN3Cj1

We propose to reimburse in the amount of 17.720 ETH, similar to how previous incidents were handled. We would love to have guidance from gov ops on how to proceed.

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Thank you @mdstakefish

Lido NOM contributors have worked together with the stakefish team to independently recalculate the value lost during the incident. The proposed amount - 17.720 ETH - is in line with the calculations made by a variety of sources (internal data, rated.network).

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Just wanted to express my gratitude to you and the rest of the stakefish team for your handling of the incident and proposing to reimburse stakers.

Although the incident itself was unfortunate, your response and handling of it was timely and professional and it was great to see other node operators contribute to trying to find quick resolution to the issue (kudos to Stefan and John Xie).

Once you’ve had a chance to implement the action items, it would be great to get some more details (e.g. around the set up of the snapshotters).

3 Likes

Thank you for the transparency and stepping up to reimburse!

The most straightforward flow would be sending eth to Lido Execution Layer rewards vault 0x388C818CA8B9251b393131C08a736A67ccB19297 (can be checked here: Mainnet | Lido Docs) By this, the funds would get accounted as regular Execution Layer rewards and distributed to stETH holders during the next day’s oracle report. I must note that this way the distribution would include the protocol fee of 10% – again, just as with the regular rewards.

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We have sent the reimbursement of 17.720 ETH Ethereum Transaction Hash (Txhash) Details | Etherscan

This incident was the very first large-scale outage stakefish has ever experienced since its founding in 2018. We’ve learned a lot from the incident and would like to thank the Lido team and our community for all of your help and support.

We wish you all a very happy festive season!

9 Likes

Thank you for this initiative!

Thank you for initiative!