Dear Audius Community,
As you may have heard there is a serious ongoing issue where thieves have been stealing $AUDIO directly from a user’s Audius built-in wallet. Hundreds that we know of, and potentially many more Audius users have had their accounts compromised and all their Audio tokens stolen, directly from the Audius built-in wallet on Audius official website. These tokens were stored before Audius security improvements, such as third party Wallet support, was implemented on Audius’ website.
These are users who trusted the Audius platform that had promoted storing Audio tokens on their wallet for Bronze, Silver, Gold badges. This is an effort to recoup some of the stolen funds. We know of multiple wallets of the thieves. Here is one ether address which equate to hundreds of thousands of stolen $AUDIO. Overall, millions have been stolen (quantity of $AUDIO). We have more Wallet ID’s but we can only post one link here
Thankfully, Audius as a company has recognized that these were in fact theft from their online platform wallet. They have also acknowledged the need for security improvements on their platform such as adding 2FA, and improving their third party wallet support. As we know, Audius has allocated 17.8% of $AUDIO’s circulating supply to a Foundation Wallet, which community members can apply to use for various initiatives. We would like to propose that community members can apply to be reimbursed for the $AUDIO that was stolen from their accounts.
The accounts will need to be verified first, to ensure that they did in fact have their $AUDIO stolen. A simple verification method can be made through the Audius platform email that was used to sign up for Audius, which is linked directly to the on platform wallet. Victims will need to verify that it was indeed their wallet address tied to a theft from one of the transactions linked to a known theft.
If passed, this will show the power and strength of the Audius community to look after its own users, many of whom are artists struggling to make it in the industry. Thank you for the time to read this proposal, and we hope that this vote passes.