Update on the recovery process
We want to share an update on the funds related to the July security incident and the ongoing compensation program.
A significant portion of the stolen funds has been identified and is currently frozen. These funds are not yet under Allbridge's control, so they cannot be distributed at this stage.
We are actively working with law enforcement as part of the recovery process.
@AMLBotHQ, which previously supported the KYC/AML verification for the compensation program, is assisting us with the investigation.
If and when the frozen funds are successfully recovered, they will be directed toward affected users and the existing compensation program.
We want to be careful about timelines. The next steps involve third parties and legal procedures, so the timing is not fully within our control, and we do not want to make promises we cannot guarantee. We are hopeful there will be meaningful progress before the end of the year, but this should not be treated as a guaranteed recovery date.
In parallel, the existing compensation program continues to operate, including ongoing ABX buybacks funded by recovered assets and available Allbridge profits.
We will keep sharing material updates as the process progresses. Thank you to everyone who has been patient, and to AMLBot for its support with the investigation.