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Problems galore for DeFi ecosystem as another protocol gets compromised
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The DeFi ecosystem continued to be a happy hunting ground for hackers as yet another protocol fell victim to an exploit.
A vulnerability in the early contract Bscex SwapX of LaunchZone [LZ], a BNB Chain-based decentralized exchange (DEX), was exploited resulting in the loot of about $7.7 million of funds.
Exactly a month ago, $700,000 worth of funds were drained out of LaunchZone’s liquidity pool, following which its native token LZ tanked and other platforms suspended transactions involving the token.
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