đ„ NFT Lending Halted After Major Flow Blockchain Hack đš
Flow Network just suffered a serious cyberattack, freezing NFT loan repayments and sending shockwaves through the ecosystem. đ
Early reports point to a vulnerability in transaction processing, preventing borrowers from repaying loans. User activity plummeted by 30% as trust evaporated, and $FLOWâs price tanked from $0.17 to $0.10. đ±
The good news? The Flow Foundation insists user funds are safe and a fix is ready for deployment. However, this incident is a stark reminder of the security risks lurking in the DeFi space, especially within NFT lending. $BTC and $ETH investors should take note â robust security isnât just important, itâs essential. đĄïž
This highlights the need for better key management and continuous auditing as the sector evolves.
#NFTsecurity #DeFi #FlowBlockchain #Cyberattack đ
