DeFi1 source
Kava Lend loses roughly $3.8 million to hack, sending KAVA token down nearly 40%
Headline from The Block
Key points
- DeFi protocol Kava Lend suffered an exploit resulting in the loss of approximately $3.8 million.
- The attacker bridged around 49.2 million KAVA tokens to BNB Chain using LayerZero, subsequently selling them for about $2.1 million in BNB and USDT.
- Following news of the security breach, the price of the native KAVA token dropped by nearly 40%.
Summarized automatically by Kryptokite from reporting by The Block. Read the original sources for full detail.
Coins mentioned
Sources
- The BlockKava Lend loses roughly $3.8 million to hack, sending KAVA token down nearly 40% · 1 hour agoRead on The Block
Story timeline
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Your wallet may show a dollar balance for fake USDT that you cannot sell
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Binance says stolen crypto has been replaced but some customers have to wait
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Kava investigates suspicious on-chain activity as exchanges suspend KAVA transfers
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KAVA token sinks 40% as exploit hits Kava Lend, exchanges halt withdrawals
- Crypto Briefing1 min read
Kava token plunges nearly 50% after bridged tokens are dumped on BSC
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