On the 28th of January $80M was stolen from the Qubit protocol by address: 0xd01ae1a708614948b2b5e0b7ab5be6afa01325c7
Full report: https://medium.com/@QubitFin/protocol-exploit-report-305c34540fa3
The proposal is to reimburse our platform victim's losses because of the hack, which currently adds up to $766,212 among 15 addresses so far (assuming 100% of the funds deposited in Qubit vaults are lost).
Since our treasury worth is less than that at the current price, it is obvious we can not activate the hack insurance and pay the victims right now.
The proposal is to pay them only if the total payment is less than 5% of the treasury's worth (another vote can change this 5%). Or, in other words - only when the treasury worth reaches $15.33M (assuming the damages are $766,212) the insurance will be activated, and our community victims will get paid.