Kava Lend Exploit Drains Millions as KAVA Falls 47%
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Kava Lend suffered an exploit in which inflated BUSD collateral allowed attackers to borrow 55.2 million KAVA, sending the KAVA token down 47%. Bridge withdrawals and transfers at three Korean exchanges were suspended as the incident unfolded. The attack highlights persistent collateral-pricing and oracle risks in DeFi lending markets, where mispriced assets can let borrowers drain reserves. Traders will watch whether KAVA stabilizes and how Kava Lend recalibrates collateral parameters and oracle feeds.
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Named in this story
KAVA (KAVA), Kava Lend, BUSD, Korean exchanges
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