Dear WadzChain Community

We would firstly like to apologise for the distress felt by the community due to the recent events. We would like to reaffirm that WadzChain had no role to play in it. The investigations are ongoing, and we are assessing if this could have been a systematic exploit of the system.

As we move further, we understand the pain this has caused you. But we stand firm by our commitment to make good by the community. It takes precedence from events such as the Bitmart security incident back in 2021 or many other occasions when the company was questioned and stood the test of time. We have also established a 24X7 helpdesk for our community and you can write in anytime to seek support at support@wadzchain.io.

We are engaging with regulators, legal services (internal and external), forensic experts, and other relevant authorities. Your interest and getting clarity on the incident are our prime objectives. As part of the recovery efforts, we are working on several options, which include:

• Blacklisting tokens and wallets, where possible.
• Redeploying contracts with a newer security matrix and real-time bridge scan.
• Re-acquisition/liquidity reduction: we are evaluating various options.

And rewarding our loyal community members with air drops to mitigate potential downsides. As you are aware, with the launch of the WadzChain testnet, we are aggressively moving towards the mainnet launch and on-chain tokonomics. Hence the occurrence of this incident is unfortunate.

As next steps:

• We are working on resuming the deposits on exchanges as quickly as possible.
• We will continue with other business activities at the same pace and publish a roadmap to Mainnet next week.
• We will be publishing a report and a plan towards the back of next week regarding the recent events.

We at WadzChain and I personally are extremely regretful for the unforeseen events, and together we can beat this.