【A lending pool vulnerability sent KAVA plunging 60% in one day! About 49 million tokens were bridged to BNB Chain and dumped; cross-chain bridge urgently suspended】
On November 14, Kava ecosystem lending app Kava Lend was attacked. On-chain data shows about 49 million KAVA were bridged to BNB Chain, then transferred and sold. The team said there was no unlimited minting and the issue was limited to Kava Lend. Withdrawals via the Axelar cross-chain bridge have been suspended, and several exchanges have also suspended KAVA deposits and withdrawals. KAVA hit a low of about $0.0254 on Binance and is now trading at about $0.0265, down around 61% in 24 hours.
$KAVA
#Kava #DeFi #HackerAttack
On November 14, Kava ecosystem lending app Kava Lend was attacked. On-chain data shows about 49 million KAVA were bridged to BNB Chain, then transferred and sold. The team said there was no unlimited minting and the issue was limited to Kava Lend. Withdrawals via the Axelar cross-chain bridge have been suspended, and several exchanges have also suspended KAVA deposits and withdrawals. KAVA hit a low of about $0.0254 on Binance and is now trading at about $0.0265, down around 61% in 24 hours.
$KAVA
#Kava #DeFi #HackerAttack