Zunami Protocol finds itself grappling with the aftermath of a cyber onslaught, resulting in a substantial financial setback totaling $2.1M. The company’s assurances resonate loud and clear: the safety of the collateral remains intact.
Detected on August 13th, the cyber attack on Zunami Protocol’s zStables pools caught the attention of blockchain security firm PeckShield. Their analysis confirmed the staggering loss of almost $2.1 million.
In a swift response, Zunami acknowledged the breach a mere 20 minutes after its detection. The incident reverberated across the expanse of Zunami’s stablecoins, encompassing both the USD-pegged stablecoins and the venerable Zunami Ether.
Exploring Zunami Protocol: A DeFi Yield Farming Protocol
Zunami is a core DeFi protocol focused on yield farming and stablecoin staking aggregation. The bedrock of its operation is a DAO brimming with commitments of the loftiest APY yields. These yields are obtainable within the market’s ever-shifting landscape of staking.
According to the figures adorning its official digital façade, Zunami commands a Total Value Locked (TVL) that scales a remarkable 5 million.
Evolving over half a dozen years, the sphere of cryptocurrency has witnessed an astronomic ascent in the frequency of hacking and cyber incursions. A statistical analysis conducted by Statista lays bare the transformation, illustrating a journey from a mere nine incidents in 2017 to an astounding 190 in the year 2022.
In the complex landscape of digital technology, certain key players like Blackberry have become experts in cybersecurity. They are particularly adept at dealing with prevalent forms of malware that pose significant risks to the world of cryptocurrencies.
Notable examples include SmokeLoader, RaccoonStealer, and Vidar, which have emerged as major sources of digital disruption, drawing substantial attention within the industry.
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