DeFi Platform bZx Loses Collateral After $8 Million Token Duplication Incident
Crypto collateral on DeFi lending platform bZx has dropped to its lowest level for over a year as a token duplication incident resulted in an emergency code patch and resetting of user balances. Another technical glitch has created problems for DeFi lending protocol bZx. The team responded with a breakdown of events, reassuring borrowers and The post DeFi Platform bZx Loses Collateral After $8 Million Token Duplication Incident appeared first on Coingape.
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Crypto collateral on DeFi lending platform bZx has dropped to its lowest level for over a year as a token duplication incident resulted in an emergency code patch and resetting of user balances.
Another technical glitch has created problems for DeFi lending protocol bZx. The team responded with a breakdown of events, reassuring borrowers and lenders that ‘no funds are at risk’.
A vulnerability in a token transfer function made it possible for users to call this function to create and transfer pool tokens, called iTokens on this platform, to themselves artificially inflating their balance.
The official iToken duplication incident report is out.
Read more here
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