Avalanche Blockchain’s Zabu Finance Loses $3.2 Million after Facing a Pool Hack 

On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…

WMA: Bitcoin Continues Its Decline While The Altcoins Soar

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $950 billion. Bitcoin lost nearly 7% over the week to trade at around $32,000. Ethereum gained almost 10% in value to trade above $1,300. XRP and Polkadot settle on their previous gains while trading in the green. The DeFi sector adds more than $2 billion to the total value of locked protocols. Crypto Trends…

Hacker Steals Cryptocurrencies Worth $500k From a DeFi App

The DeFi space of Ethereum has gone parabolic over the past few weeks. Cryptocurrencies locked in DeFi applications are now worth $1.65 billion, representing a 65 percent increase from the value on June 17. At the same time, there is an upsurge in the number of people using applications such as Compound, Maker, and Synthetix. However, the growth of decentralized finance may be temporarily slowed down by an alleged hack that took place some hours ago. On June 28, reports had…