[Update 5] Final step - the liquidity pools are open again at pre-incident depth and price
The liquidity pools, the last remaining item in the recovery from the 24 October incident, reopened at 16:00 KST on 27 October. They are filled to the pre-incident depth and start at the pre-incident price of 1 WLBN = 0.45 RLUSD. With this, every function paused by the incident is back to how it was before.
Thank you for your patience, and once again we sincerely apologize.
- At 16:00 KST on 27 October the WLBN/RLUSD and WLBN/XRP pools reopened, at least as deep as before the incident, with the price restored to the pre-incident 1 WLBN = 0.45 RLUSD.
- Exchanging and withdrawing WLBN on the site and swaps in external wallets such as Xaman work as before the incident. The LP reward program starts on 1 November.
- Asset restoration and NFT reissuance have been sent to every member who created a new wallet; if you have not created one yet, it follows automatically as soon as you do. Wellbian never asks for your recovery phrase, seed or password.
How the pools were reopened
When: 27 October, 16:00 KST. Which: both the WLBN/RLUSD pool and the WLBN/XRP pool.
Depth: filled to at least the combined level of both pools just before the incident (24 October, 21:00 KST).
Price: restored to the pre-incident price of 1 WLBN = 0.45 RLUSD.
Funding: the assets supplied are entirely the Company's (foundation) assets, separate from the member restoration funds.
Exchanging and withdrawing WLBN
Exchanging and withdrawing WLBN on the site, and swaps in external wallets such as Xaman and D'CENT, work as they did before the incident. WLBN you received as rewards or restoration can be exchanged or moved right away.
Losses of members who had supplied assets to the pools at the time of the incident were already handled on the same basis (restoration in kind).
Liquidity provider (LP) rewards
The liquidity provider (LP) reward program starts on 1 November as planned; details will follow separately.
Service restart progress
① Lost assets sent in kind to members who created a new wallet (WLBN as WLBN, XRP as XRP, RLUSD as RLUSD, same amounts)
② Device license, tier and AI access pass NFTs reissued (press 'Receive' in the NFT tab of My Page)
③ New wallet activation (the 2 XRP activation cost provided free of charge)
④ Sign-in, reward claims, payments and NFT issuance restored
⑤ Transfers to external wallets restored
⑥ Liquidity pools reopened
What still needs your action: if you created a new wallet but it has no trust line to receive WLBN or RLUSD, press 'Prepare to receive WLBN' in My Page and the restoration is sent automatically in the next round. If you have not created a new wallet yet, sign in and create one and the restoration follows automatically. If what you received differs from your pre-incident amounts, email admin@wellbianlabs.io.
Please keep in mind
Write your 12-word recovery phrase on paper. If it is lost, Wellbian cannot recover it.
Wellbian never asks for your recovery phrase, seed or password, and never asks you to send funds, sign a transaction or connect your wallet on another site for a reward or restoration. Any such message is an impersonation. Official updates come only through the notice board at wellbian.io and emails from no-reply@wellbian.io.
Closing
Taking this incident as a turning point, Wellbian will do its utmost to safeguard your assets more securely and to provide an even more innovative service. Thank you for your trust and patience.
Contact: admin@wellbianlabs.io
Wellbian Labs Pte. Ltd.