NewsletterBreaking: Binance Listed DeFi Protocol DEGO Finance Hacked
Dego Finance, a recently launched decentralized finance (DeFi) project aims to refurbish the rationale and efficacy of non-fungible tokens (NFTs) through an array of fun and clever applications.
Dego Finance hacked!
Dear users,
We have just found out that our address providing liquidity on @UniSwap& @PancakeSwap was hacked hence DEGO pairs liquidity provided by the team was drained. We have already contacted operation team @binance , @kucoincom, @gate_io. They have closed deposit on DEGO.— DEGO (@dego_finance) February 10, 2022
The platform was hacked on Thursday, February 10, 2022, and the DEGO pair provided by the team was exhausted. Dego Finance has paired with major exchanges such as Binance to close DEGO deposits.
In an official tweet, DEGO stated that the hack had been detected and the address providing liquidity on @UniSwap & @PancakeSwap was compromised. It was also learned that DEGO pairs liquidity provided by the team was drained.
The tweet added they have already contacted operation teams @binance, @kucoinco, and @gate_io. They have closed deposits on DEGO
Immediately after the hack news Dego Finance was trading at $3.92, down 7.5%.
About Dego Finance
Dego Finance incorporates a governance and equity token known as DEGO. The platform is designed to deliver an NFT ecosystem that allows anybody to efficiently issue NFTs and unfurl these for auction, trading, and mining.
It also intends to start a cross-chain layer-2 solution that blockchain projects can use to create more powerful NFT applications.
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