Zebec Protocol Assures Consumers That It Is Uninfluenced by Raydium Exploit

Recently, a hacker group swarmed Raydium (the biggest DeFi protocol based on Solana) and drained $4 million consequently. Although the majority of $SOL tokens were stolen, more than $2 million worth of ZBC was taken away from the liquidity pool of Zebec. Nonetheless, no member of the Zebec community reported any token loss, and no impact was undergone by Zebec Protocol.

Zebec Says Its Token and Protocol Remained Uninfluenced by Raydium Exploit

The respective hack highlighted the resilience of Zebec’s token ZBC and community. When the ZBC coins were traded on minor markets, they just took a slight hit of around ten percent in comparison with the others as they went through significant exposure to the incident. The platform assured the clients that the hack did not affect the Zebec Protocol.

They added that the protocol’s token was immediately eliminated and pulled back from Raydium while targeting the prevention of additional token dumps. Another declaration made by the protocol was that it will keep on progressing toward the subsequent level. The company mentioned that none of its decentralized applications (dApps) or any other segment was hurt due to the event of the Raydium exploit.

 It moved on to say that even the community members of the project remained unaffected and safe from the episode. The platform was of the view that on getting control of the tokens – including ZBC – the exploiter traded away the entirety of the assets, indicating that the exploit’s crucial part is already done. Nevertheless, among the entirety of the tokens whose prices were influenced by the attack, the top-level resilience was expressed by ZBC, while the others were hit by up to 25%.

Following the 27% decline experienced by the TVL tokens on Raydium, the price change of ZBC has been considerably less as opposed to the expectation. Then, Zebec Protocol removed its token from a few other platforms (that offer decentralized lending services) to avoid any additional price drops or other harm.

Zebec Protocol to Release Zebec Chain

However, as the community of Zebec remained steadfast, a majority of the loss has in advance been covered. The protocol pointed out that, rather than impacting or hindering the progress of the Zebec Protocol, the exploit will just support their intention to introduce the Zebec Chain. According to the entity, the incident reinforces the requirement for them to operate in collaboration with additional chains and ecosystems.

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