Breaking: 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.
- Expert Projects HYPE Token Upside as Bitwise Files for Hyperliquid ETF With SEC
- Expert Says Crypto ETFs Could Be ‘Death-Knell’ for Treasury Firms MSTR, MTPLF, BMNR, SBET
- Trump-Linked WLFI Passes 100% Buyback & Burn Proposal, Analyst Eyes Bullish Surge
- Crypto Market Liquidations Top $1 Billion Again With Ethereum Leading, Buy The Dip Opportunity Ahead
- Nasdaq-Listed AlphaTON Kicks Off Treasury Strategy, Buys $30M in Toncoin After $71M Raise
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
- Bitcoin Price: Analyst Predicts Crash to $104K Before Explosive Rally on Fed Cut Pattern
- HBAR Price Elliot Wave Signals an 86% Rebound as Key Risks Remain
- Will Pi Coin Price Recover Before Month-End After Payochain Listing?
- Chainlink Price Prediction as Whales Buy 800K LINK — Can the Demand Zone Launch a Recovery?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
