dego finance

Another DeFi Project Dego Finance Exploited for $10 Million

The Binance listed DeFi project Dego Finance was exploited for $10 million on 10 February. The announcement was made by the official Twitter handle on Thursday. The project team is constantly trying to identify and communicate with the hackers. 

The number of hackers is constantly increasing with the growing crypto market. According to a report, about 200 hacks happened last year and the numbers are likely to grow in the upcoming year.

Dego Finance
Source: Twitter

Dego Finance exploited for $10 million:

Dego Finance, a combination of NFT and DeFi where anyone can make NFTs, mine, and trade has been exploited for $10 million on the night of 9-10 February and the announcement was made by the official Twitter handle of the project.

As soon as the news came out, the price of DEGO dipped by 23% as the price of the token fell from $4.50 to $3.65. Despite a successful breach, the price has recovered by 13%. Dego finance combined with an operation team that immediately closed all the deposits in DEGO on major exchanges like Binance and kucoincom.

Earlier in January,  Wormhole lost $320 million in the 5th largest crypto hack of all time.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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