Black Thursday Vault owners report Thread

This thread is for vault owners that want to come - or anyone really and pretty much make entries like Vault NNNNN - Comments to present their Black Thursday loss post mortem event.

This thread is simply about accumulating individual vault data so the full picture can emerge of the event and potentially a claims submission place for individual vault holders.

I know that everyone at Maker wants to express sincere apologies for any misunderstandings as well as actual losses during this event, we feel your pain to the tune of ~80% of the total loss and want to do the best we can for the community as a community.

With respect to being paid back - this is completely a Maker governance question (I this OP is but one small voice). But if we can basically tally the cases and data here just as post mortem facts finding thread - particularly by the vault owners themselves I think it gives Maker governance a better look to make the best decision about whether and/or how much to compensate vault owners.

So here you go felix - kick it off with Vault 2288 if you’d like or someone else pick a vault (how about the largest one) and give the full post mortem on it. It would be interesting alone to know how many vaults were affected by not just the 0 bid issue (which we have some data on thanks to:

but other issues we don’t even know about yet like Vault 2288.

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Posting as a gist because this website wouldn’t let me post multiple pics or images

Full damage report below… this was majority of my savings.

You will need to click the following gist link below.

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I’m vault #6709

https://defiexplore.com/cdp/6709

I also got liquidated back in Dec where my vault had 700 ETH and I couldn’t repay mi debt due to lack of sai available and transactions not going trough. After that liquidation I was left with the 175 ETH that got put into this last vault. Now I’m at zero. I can’t find the old vault number since I migrated it to the new system.

I already shared my thoughts on how this creates a big trust issue in all future users and what i believe should be done to remedy this:

Compensating vault holders that liquidated at 0 bid?!

Thanks for listening and creating a conversation about it.

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First of all Thank you for dooing this.

Vault 392 => https://defiexplore.com/cdp/392

During market crash i was trying pay back some DAI, all my tranzaction was failing becouse of network congestion. My liquidation price was 124$, i had 109ETH in colleteral. i received 0 back.

Please. As you can see i am with MakerDao almost from beginning, i was in zoom during MCD migration celebration ( i was the person who played rocky balboa song at background). I am not a gambler, most of my loans are used for my small GPU-home mining business. I keept eth for upcoming staking eth2.0 . some ETH wasn’t my own so now i’am in debt + becouse of cryptomarket have crashed my bussiness doesn’t give profit.

I would apriciate if fair amount is payed out. Also becouse i am unemployed and bussiness going bad i can put my work to help with some tasks. ( Do meeting, presenting, give support, provide some computtion power)
Thank you.
[email protected]

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Vault 4246. Been around for a second/had a SCD CDP in the triple digits.

Got liquidated with around 1000 Eth Collateral, got 2.99 eth back.

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Vault #3157: https://oasis.app/borrow/3157

I even bought 600 DAI with my fiat at the last moment to push down the liquidation price as you can see from the history. However, this was before the steeper drop that liquidated me as I fell asleep in my timezone.

I woke up in horror to see my entire vault gone.

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Vault 5931, got liquidated with 21 ETH collateral, got 0.88 ETH back.

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Vault 3882. Got 118 eth colleteral. Get zero back. Tried to save cdp true the day but a person need to sleep and got liquidated while sleeping.

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Vault #4763. Had 600-odd ETH as collateral and ended with zero balance.

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Hi my Vault#6194
OK lets simple find the whole story, the question here is are you going to do any kind of pay back or not? Had 19 eth after liquidation all what is left is 1.6eth ? What is the point of setting Liquidation price if can’t be executed. My liquidation price was 130$ but it was sold on 95$? After reading all those people who were left with nothing, i should think of myself as lucky one?
Please reconsider some kind of payback if still care about your project.

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Vault #2282. Had 168 ETH as collateral and ended with a zero balance. The defi explorer shows what happened during liquidation https://defiexplore.com/cdp/2282 which left me with nothing.

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Vault #4006 here. Also got liquidated 100% for over 35ETH as can be seen here: https://defiexplore.com/cdp/4006

Curious what MakerDAO is intending to do for compensating the fact that all collateral is gone.

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My Vault: https://defiexplore.com/cdp/3805

Earlier that day i deposited 10 extra eth to bring down the liquidation price. Later that evening my cdp was completely liquidated leaving me with 0 eth. I had 52 eth in there. 32 was going to go towards staking.

Im extremely disheartened by this whole thing, i have been trying to get my friends and colleagues to use mkr as it offers something which usually would take a lot of paperwork and time.

When i saw my cdp at 0 i knew something was not right, i havent read the fine prints but i think its fair to presume most users would expect that when a liquidation occurs enough eth is sold to cover the debt and the rest is left in the cdp.

Im sorry for the loss of all the vault owners including myself and hope that we are compensated for our loss. its only fair.

thanks
neece

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Vault #3834. Lost 105 ETH, nothing left. Tried to repay 1200 DAI with Fiat to stabilize last minute, stayed up all night to monitor but fell asleep during a transaction that took forever and could have saved my savings. Woke up in shock to a liquidated CDP

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Vault #2363

Collateral ~579 ETH (not sure if it was exactly this)

Liquidation price ~178$ (not sure if it was exactly this)

ETH returned: 55ETH

I SHOULD HAVE RECEIVED: on DefiSaver history, I calculated a minimum of 234ETH, but I’m not sure about the calculation because I don’t have a lot of details in the history. The bids were at 0$ or 120$/ETH (far from the 178$). I added more collateral the day before, and some at 1am, 3 hours before liquidation. It was not working when I wanted to “Repay” more than 5ETH on DefiSaver (I don’t remember the error), so I tried 5ETH and the transaction were very slow as you may know, and it was already too late.

Vault #4996

Collateral 262 ETH

Liquidation price 173$

ETH returned: 13ETH

I SHOULD HAVE RECEIVED: a minimum of 63ETH

–> At the time of liquidation, total ETH received back would have been minimum 297, which was ~50kUSD. But I received only 68ETH which was ~11kUSD.

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@everyone who has been effected please fill in this sheet with your info and supporting evidence:

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I appreciate the effort here, but I think we’d prefer if liquidation data was scraped directly from the block-chain rather than self-reported. We’ll need to be able to verify everything, and taking the data from the chain will give us a complete list, whereas we may miss people if this is self-reported.

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Yes, we need to have source code that produces the data.

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Hey All

Lucky Liquidator here of Vaults

6211

5300

5209

I would like to also add that i have been a long time user of Marker DAO and a huge advocate of Defi but my confidence in Defi as a whole took a huge hit on that 12th March, i had been saving up this money which is most of my savings and i was in complete shock to see my Vaults go to zero like that.

I know there are some good people in this community all i ask is that everyone who lost out to please be considered for compensation, many of us have worked really hard for this money and although yes we knew the risks i myself was always watching my CDP’s like a hawk and doing everything by the book to make sure i didn’t get liquidated.

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So for now we don’t have to do anything?

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