Incident Response
OrangeBit implements a formal Incident Response Procedure to ensure rapid, structured, and transparent handling of security events, including vulnerabilities, exploits, or unexpected system failures. The process is designed to protect user assets, maintain trust, and minimize operational impact.
1. Standard Operating Procedure (SOP)
Detection & Notification
Upon discovering a vulnerability, exploit, or abnormal activity, the core security and operations teams, along with third-party auditors (if applicable), are immediately notified.
Contract & Asset Safeguards
Multi-signature wallets and emergency pause mechanisms are triggered where system design permits, isolating critical contracts and assets to prevent further impact.
User Communication & Guidance
Timely announcements are issued to affected users, including instructions for isolating or securing impacted assets. Transparency is maintained without exposing exploitable details.
Technical Remediation & Investigation
Engineers perform root cause analysis, patch vulnerabilities, and validate fixes.
Where applicable, rollbacks or compensatory transactions are executed to restore platform integrity.
Post-Incident Reporting
A comprehensive report is published detailing the incident, affected systems, root cause analysis, remediation measures, and preventive actions.
2. Compensation Strategy
User Protection Fund: OrangeBit maintains a dedicated reserve to compensate users affected by security incidents or operational failures.
Third-Party Insurance: For major incidents, coverage from partnered insurance providers may be invoked to protect user funds.
Event-Based Assessment: Compensation is determined based on incident type, severity, and affected asset scope, ensuring fairness and transparency.
3. Strategic Objectives
Rapid Containment: Limit the scope and impact of incidents using automated and manual safeguards.
Transparency & Trust: Keep users informed with structured guidance while maintaining operational security.
Fair Compensation: Protect user assets through pre-allocated funds and insurance partnerships.
Continuous Improvement: Post-incident reviews feed back into platform hardening and future incident prevention.
OrangeBit’s Incident Response framework ensures a proactive, structured, and accountable approach to handling security events, safeguarding both users and the platform while strengthening overall ecosystem resilience.
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