Nirvana plans to launch V2 mainnet in mid-October and launch the victim compensation process

On September 19, NirvanaFinance announced its recovery plan for the protocol since the July 2022 hack. In July 2022, hacker Shakeeb Ahmed stole about $3.50 million in stablecoins by manipulating the protocol's pricing mechanism. After working with the Department of Justice, the Department of Homeland Security, and the IRS, Nirvana successfully recovered the stolen funds and got Ahmed sentenced to three years in prison, while he was required to return the cryptocurrency and pay $3.40 million in restitution. Nirvana plans to launch the V2 mainnet in mid-October and launch the victim compensation process.