News Explorer — Solana-Based DEX Cypher Loses $400K in Crypto in Exploit, Freezes Contracts

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Aug 7, 9:06 pm

Coindesk

Solana-Based DEX Cypher Loses $400K in Crypto in Exploit, Freezes Contracts

Solana-based decentralized exchange Cypher suffered a loss of $400,000 in crypto due to an exploit or security incident. The protocol's contracts are currently frozen as efforts are made to negotiate the return of funds with the hackers. Cypher's loyalty program, which rewards users with points, has contributed to its rapid growth on the Solana blockchain.

Solana-based decentralized exchange Cypher suffered a loss of $400,000 in crypto due to an exploit or security incident. The protocol's contracts are currently frozen as efforts are made to negotiate the return of funds with the hackers. Cypher's loyalty program, which rewards users with points, has contributed to its rapid growth on the Solana blockchain.

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