Dear Valued Globiance Community,
It is with a heavy heart that I write to you today. The recent events surrounding the XDC Staking System have caused immense frustration, and for that, I offer my deepest, most sincere apologies. I am profoundly saddened by the impact this has had on you our trusted users and I want you to know that resolving this situation is my personal priority.
The issue originated on our V2 platform, operated by our Lithuanian subsidiary, UAB Globiance LT. A critical flaw in the staking software allowed malicious actors to exploit the system, repeatedly withdrawing rewards and principal. While initial signs pointed to a technical glitch, investigations suggest insider involvement may have bypassed internal safeguards. This exploitation drained liquidity, leaving UAB Globiance LT unable to fulfill refunds independently.
Despite this devastating setback, Globiance Group stands by our promise to safeguard your assets. To date, 81% of affected tokens have already been refunded, and we are tirelessly working to address the remaining XDC tokens. Regrettably, full restitution will require up to 12 months, as we must balance refunds with operational sustainability to continue serving you long-term.
1. XDC Balances Verified & Transferred: The XDC balances have been verified and are now being transferred to the V3. platform. This ensures full visibility and security for your assets.
2. Immediate Relief: While awaiting refunds, stake your holdings at 9.99% APY - the highest rate available globally for XDC.
3. Phased Refunds: We estimate a 12-month timeline for full XDC restitution, ensuring we uphold operations while prioritizing your repayment.
Accountability is paramount. We’ve engaged Andre Casterman, a respected industry expert and trusted business consultant, to conduct an independent, in-depth analysis of our future cash flow, business forecasts, and refund strategy. After creating the report for us, he will also share his personal opinion publicly, providing an objective assessment of our ability to execute the refund plan. This third-party validation ensures no stone is left unturned in our commitment to transparency.
The new V3 platform and its staking system are fully operational, secure, and entirely unaffected by this incident. We’ve conducted rigorous audits of the V3 infrastructure and implemented enhanced safeguards, including multi-layered security protocols and real-time monitoring, to prevent future vulnerabilities. Your security remains our top priority.
Over the past seven years, our team has poured heart, soul, and resources into building a platform that empowers people globally. This incident has been a devastating blow, but we refuse to let it define us. Every day, we wake determined to rebuild your trust. To those who’ve shared their anger and disappointment: we hear you. Your frustration is justified, and we are committed to earning back your faith through action.
Thank you for your patience and resilience. Your support has been the bedrock of our journey, and we will honor it by delivering on our promises. We will provide monthly updates on refund progress and remain available for questions at [email protected].
Together, we will emerge stronger.
With unwavering resolve,
Oliver Marco La Rosa
CEO, Globiance Group