Another week of DeFi hacks, but ZK-proof development heats up: Finance Redefined

Welcome to Finance Redefined, your weekly dosage of necessary decentralized finance (DeFi) insights– a newsletter crafted to bring you the most significant developments from the previous week.The past week in DeFi was dominated by exploits and hacks, with three DeFi platforms losing nearly $39 million. Alphapos hot wallets were exploited for over $32 million, Era Lend was drained pipes for $3.4 million, and the decentralized financing procedure Conic Finance was made use of for practically $3.5 million.In better news, the DeFi environment was buzzing with advancements in zero-knowledge-proof (ZK-proof) scaling services as the layer-2 sector heats up in spite of the bear market.The exploits and bearish market condition took their toll on DeFi protocols, with the overall value locked in DeFi procedures seeing a significant drop over the previous week.Alphapo hot wallets hacked for over $31 millionCrypto payment platform Alphapo had approximately $31 million drained pipes from its Ether (ETH), TRON (TRX) and Bitcoin (BTC) hot wallets, security professionals reported on July 22. The overall value locked in DeFi procedures stayed below $50 billion.Thanks for reading our summary of this weeks most impactful DeFi developments.

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Invite to Finance Redefined, your weekly dose of necessary decentralized finance (DeFi) insights– a newsletter crafted to bring you the most significant advancements from the previous week.The past week in DeFi was controlled by hacks and exploits, with 3 DeFi platforms losing nearly $39 million. Alphapos hot wallets were made use of for over $32 million, Era Lend was drained for $3.4 million, and the decentralized finance protocol Conic Finance was made use of for nearly $3.5 million.In better news, the DeFi environment was buzzing with developments in zero-knowledge-proof (ZK-proof) scaling solutions as the layer-2 sector warms up in spite of the bear market.The exploits and bearish market condition took their toll on DeFi protocols, with the total worth locked in DeFi procedures seeing a significant drop over the previous week.Alphapo hot wallets hacked for over $31 millionCrypto payment platform Alphapo had approximately $31 million drained from its Ether (ETH), TRON (TRX) and Bitcoin (BTC) hot wallets, security professionals reported on July 22. The total value locked in DeFi procedures remained below $50 billion.Thanks for reading our summary of this weeks most impactful DeFi developments.