{"id":74727,"date":"2023-07-28T20:25:00","date_gmt":"2023-07-28T20:25:00","guid":{"rendered":"http:\/\/kryptodata.se\/finance-redefined-zk-proof-development-gains-momentum-amidst-another-week-of-defi-hacks\/"},"modified":"2023-07-28T20:25:00","modified_gmt":"2023-07-28T20:25:00","slug":"finance-redefined-zk-proof-development-gains-momentum-amidst-another-week-of-defi-hacks","status":"publish","type":"post","link":"http:\/\/kryptodata.se\/finance-redefined-zk-proof-development-gains-momentum-amidst-another-week-of-defi-hacks\/","title":{"rendered":"Finance Redefined: ZK-Proof Development Gains Momentum amidst Another Week of DeFi Hacks"},"content":{"rendered":"

The total value locked in DeFi protocols remained below $50 billion after another week of exploits. Three DeFi platforms lost nearly $39 million due to hacks and exploits. Alphapo’s hot wallets were exploited for over $32 million, Era Lend was drained for $3.4 million, and Conic Finance was exploited for almost $3.5 million. Despite these incidents, the DeFi ecosystem saw developments in zero-knowledge-proof scaling solutions. The bearish market conditions and exploits led to a significant drop in the total value locked in DeFi protocols. Alphapo had approximately $31 million drained from its hot wallets, Era Lend was exploited for $3.4 million, and investigations are still ongoing. ZK-proofs are gaining traction in the industry and are being used in layer-2 scaling solutions. Optimism surpassed Arbitrum in transaction volume for the first time in six months. The total market value of DeFi experienced a bullish surge after three bearish weeks, with most tokens trading in the green. However, the total value locked in DeFi protocols remained below $50 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

<\/p>\n

The total value locked in DeFi protocols remained below $50 billion after another week of exploits.<\/p>\n","protected":false},"author":1,"featured_media":74728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[17],"tags":[52],"class_list":["post-74727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-defi"],"yoast_head":"\nFinance Redefined: ZK-Proof Development Gains Momentum amidst Another Week of DeFi Hacks - 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