DeFi Protocol bZX Gets Abused Once Again

News No Comments on DeFi Protocol bZX Gets Abused Once Again

As if one attack against a DeFi protocol is not enough, bZX keeps generating headlines. The protocol has been “abused” for the second time in less than a week.

One could argue that the first incident is not even a hack.

bZX Should Just Give up

Instead, it is someone cleverly using the mechanics at their disposal.

Growing pains such as the incident affecting bZX are to be expected in DeFi.

What is remarkable is how the protocol has now facilitated a second incident. 

This time around, roughly $645,000 worth of ether has ended up in the wrong hands. 

It is evident that the bZX team is not in control of what is happening, thus they would be better off halting their services altogether.

This time around, an oracle manipulation attack has taken place.

It too will be “neutralized”, even though the damage has already been done.

The bZX protocol has, once again, been paused for the foreseeable future.

The team will investigate the matter and try to come up with a fix accordingly. 

Once the service comes back, new positions and new loans will no longer be possible through the platform.

That goes to show that this project is not ready for the DeFi market in any shape or form.

Image(s): Shutterstock.com

The post DeFi Protocol bZX Gets Abused Once Again appeared first on NullTX.

Click to read full article

Author

Leave a comment

Search

Back to Top