Official Explanation of Unreasonable VCG Token Transactions on November 8, 2022

We will provide an explanation regarding the transaction of 1,911,000 VCG Tokens that occurred on Tuesday 8 November 2022 at 02.26 WIB.

We realize that sales transactions amounted to 1.9 million VCG Tokens from the wallet deployer is certainly a concern for all holders.

So, it is important for us to provide explanations and information to all VCG Token holders as a form of transparency.

We convey this explanation to provide a complete picture of the events that occurred. At the same time, to straighten out the issues circulating among crypto enthusiasts in our beloved country.

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Explanation & Chronology

We want to convey that this transaction is a hack carried out by an irresponsible party and not carried out internally by VCGamers.

The following is a chronology of the unusual transactions from the wallet deployer above:

1. This incident started with the emergence of malicious access from hackers on November 8, 2022 who then accessed the VCG Token wallet deployer and carried out the action.
2. VCGamers later found out about this in less than 10 minutes.
3. VCGamers then immediately attempted to secure the assets in the deployer wallet.
4. The result, total loss experienced, namely 1,911,000 VCG and Liquidity Pool USD from the ETH Cross Chain side of 33K USD from a potential loss of more than 20 million VCG tokens

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Step VCGamers

We are certainly not silent about this problem. Until now, we are still trying to take appropriate and measurable steps. Here are some of the steps we took related to this event:

1. Tracing from a security standpoint, and mitigating asset security managed by VCG by migrating all assets to a new wallet and adding layers of security using hard wallet.
2. After checking, it was found that the loophole was obtained from the device that was affected by the attack (not the network or as system blockchain feature).
3. We guarantee the security of VCG Token assets for all holders and are advised to use a hardware wallet to mitigate unwanted events.
4. Our Staking feature has been deactivated for a while, holders who are staking don't need to worry because we have recovered the tokens.

For this incident, we would like to express our deepest apologies to all VCG Token holders. This will also be an evaluation for us from a security standpoint and we have taken various steps to prevent similar incidents from happening in the future.

For information, this event has no fundamental impact on VCGamers as company. All products and projects at VCGamers are still ongoing.