$700,000 worth of funds has been drained from BNB Chain DeFi protocol LaunchZone, with the project alleging that an attacker has carried out an exploit.
Details remain scarce after more than 80% of funds in the LaunchZone liquidity pool were drained on Feb. 27. A message on the project’s official Telegram group warned users not to buy tokens until more information has been gathered.
The value of LaunchZone’s native token $LZ dropped by over 80% as funds were swapped out through PancakeSwap as per blockchain data from a number of different blockchain explorers.
(By GARETH JENKINSON)
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