Price of LaunchZone Crashes 82% Following Hacker Attack
Reading Time: < 1 minute
The LaunchZone DeFi protocol team, based on the BNB Chain network, has announced a hack, resulting in the LZ project token plummeting by 82.5%.
The team has also stated that the attacker had emptied the protocol’s liquidity pool of $700,000 worth of assets through the PancakeSwap DEX. Consequently, trading and LZ transactions have been suspended until the issue is resolved.
This hack is just the latest in a string of attacks on the Web3 industry in 2021, which has already caused a loss of $3.6 billion. BNB Chain was the leader in the number of incidents among blockchains.
Follow and like us on
