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DeFi Exit Scams Result in $45M Losses in May, Uniswap Rejects Liquidity Provider Fees, and PancakeSwap Enters GameFi Space

In May, DeFi witnessed a surge in exit scams, resulting in losses of over $45 million, while DeFi protocol exploits accounted for less than half that amount. Uniswap DAO rejected a proposal to charge liquidity provider fees, and Jimbos Protocol has offered an $800,000 bounty to catch the exploiter or recover the funds after talks with the hacker failed. Additionally, Fantom network has launched a program to pay developers for generating gas fees, while PancakeSwap has entered the GameFi space. The top 100 DeFi tokens had a bullish last week of May, with most of the tokens recovering from two weeks of bearish pressure, and the total value locked in DeFi protocols rose above $50 billion again. According to a report from Beosin, losses from crypto rug pulls outpaced DeFi exploits in May, with total losses from rug pulls and scams reaching over $45 million across six incidents. Meanwhile, 10 attacks on DeFi protocols netted just $19.7 million, an almost 80% decrease from April. PancakeSwap has launched a new tower-defense game in conjunction with BNB Smart Chain-based GameFi protocol Mobox, called "Pancake Protectors," which offers various benefits for CAKE tokens, including faster level-up, buying in-game currency, acquiring CAKE heroes, staking for resources, and unlocking game levels. Additionally, there will be an in-game marketplace for trading CAKE heroes, which can be improved by participating in lotteries with nonfungible token upgrade rewards. The top 100 DeFi tokens experienced a bullish week, with most trading positively and the total value locked in DeFi protocols surpassing $50 billion. 

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