Aevo, formerly known as Ribbon Finance, has confirmed a security breach in its historical Ribbon DOV vaults due to a vulnerability in a recent smart contract update, resulting in a loss of approximately $2.7 million. In response, all Ribbon vaults have been immediately halted and will be permanently decommissioned. Users are required to withdraw their funds through standard procedures following the completion of contract upgrades, which are expected to be announced next week. The attack led to an estimated 32% loss of the vault's assets. However, the DAO has proposed that user withdrawals be executed at a 19% discount. The claim window is set from December 12 to June 12, after which remaining assets will be liquidated and redistributed to users who have withdrawn, potentially covering the remaining losses.