Ramon Recuero, founder of the asset management agreement Babylon Finance, said that Babylon Finance will cease operations on November 15, and treasury assets will be distributed to BABL and hBABL holders from September 6. Ramon Recuero said that after Rari Capital was hacked at the end of April, it triggered a series of chain reactions: first, the protocol lost 3.4 million US dollars, and users also withdrew funds equivalent to 75% of the protocol TVL after the attack. Allowed to borrow as collateral. At present, Babylon Finance does not have enough funds to support continued operations after November, so it will start distributing treasury assets from September and return all BABL tokens that should belong to the team.