The Block: Around 55.2 million KAVA transferred out of Kava Lend, team says incident is confined to the lending protocol
According to on-chain data analysis reported by The Block, approximately 55.2 million KAVA tokens were drained from Kava Lend by an attacker. Valued at a pre-attack price of about $0.068, the stolen funds were worth roughly $3.76 million. Among them, about 49.2 million KAVA were bridged to BNB Chain via LayerZero and mostly swapped for approximately $2.09 million in BNB and USDT. Citing the Kava team, the report noted that this was not an infinite minting exploit, and the incident was isolated to Kava Lend. At the time of reporting, the team had not yet released official loss figures or a full incident report. The pre-attack valuation of the transferred assets and the proceeds from the sales are calculated on different bases and cannot be added together.
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