An error in execution ๐จ Restaking protocol EigenLayer recently enabled transfers for their native EIGEN token, as well as sending out locked tokens to early investors. However, that hasn't gone well since it was discovered that over 1.67M tokens, worth approximately $5.5M at the time, were sold from a single wallet.
The community immediately began speculating that either an insider or one of EigenLayer's team members could be the culprit, which would violate their token lockup agreement.
The team recently updated their documentation, mentioning that EigenLayer's former and existing personnel were prohibited from staking or selling their tokens for 1 year.
However, the protocol has concluded its investigation, stating that one of their investor's email addresses was compromised, resulting in EigenLayer mistakenly transferring tokens to the attacker instead of the intended recipient.
The team also added that some of the funds have already been frozen.
After the incident, the price of EIGEN fell from $3.61 to an all-time low of $3.06 but has since recovered to $3.38 today. Editor's Note:
Even though it turned out that it wasn't the case of an investor going rogue (which would represent another problem altogether), it still doesn't explain why the tokens were not locked in the first place. As one user pointed out, the tokens were directly sent to wallet addresses instead of vesting contracts, which would have prevented this issue entirely. | 
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