Urgent $9.5M zkLend Exploit: DeFi Protocol Pursues Legal Action After Hacker Rejects Bounty

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BitcoinWorld 1w ago

Urgent $9.5M zkLend Exploit: DeFi Protocol Pursues Legal Action After Hacker Rejects Bounty - BitcoinWorld

Quick Summary:

In a dramatic turn of events for the decentralized finance (DeFi) space, zkLend (ZEND), a prominent lending protocol operating on the Starknet (STRK) network, has confirmed a significant security breach.

The platform, which had previously suspended withdrawals, revealed that it fell victim to a staggering $9.5 million exploit.

The decentralized nature of DeFi, while offering numerous benefits, also presents unique challenges when it comes to DeFi security.