Kava Lend was attacked; attackers borrowed 55.2 million KAVA tokens and sold them for $2.09 million.

[$19.33 million worth of BTC was traded in a single transaction, originating from Binance Spot.] Frequent fund activity in a short time makes Binance spot market sentiment intriguing.

AiCoin data shows that market panic intensified further today, with the Fear & Greed Index and the Hoarding Index both reaching extreme levels for the first time in five months. • Fear & Greed Index: Hits a near 5-month low, currently at 10, indicating "extreme fear"; • BTC-ahr999 Accumulation Index: At its lowest level in nearly 5 months, currently at 0.3087, it has entered the "bottom-fishing range". Market conditions may fluctuate significantly; please be aware of risk management.

DeFi platform Vestige will cease operations on December 31, shutting down its main site, API, trading aggregator, and related services. Trading volume within the Algorand ecosystem was insufficient to cover the costs of running Vestige, and the team failed to achieve long-term profitability. Assets in user wallets will remain unaffected, and assets deposited into the Vault will still be accessible through the existing front-end. Vestige will destroy all remaining VEST tokens and VEST liquidity tokens held in the Vault.

Forward Industries, the largest treasury for SOL, transferred 1.8828 million SOL tokens, worth $130 million, to Coinbase Prime. Forward Industries currently holds 8.727 million SOL tokens, valued at $611 million.

The Kava Lend protocol was compromised, with attackers exploiting a vulnerability in the BUSD market to borrow approximately 55.2 million KAVA, worth about $3.76 million. The attackers reduced the net supply of the BUSD market to a minimum, amplifying the value of deposits by approximately 243,000 times within about 3 minutes. They then borrowed KAVA in 127 separate transactions by inflating collateral and used a second account to liquidate the loans, bypassing borrowing limits. Approximately 49.2 million KAVA tokens were transferred to the BNB Chain via LayerZero, with most being sold for approximately $2.09 million worth of BNB and USDT. Attackers began testing the attack on the Kava Lend market on November 8th. Kava stated that the attack was not an unlimited issuance and its impact was limited to the Kava Lend. (Source: The Block)