{"id":133291,"date":"2024-07-17T11:00:17","date_gmt":"2024-07-17T08:00:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133291"},"modified":"2024-07-16T18:34:11","modified_gmt":"2024-07-16T15:34:11","slug":"crypto-user-loses-90-of-assets-due-to-cross-chain-transaction-issues","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-user-loses-90-of-assets-due-to-cross-chain-transaction-issues\/","title":{"rendered":"Crypto User Loses 90% of Assets Due to Cross-Chain Transaction Issues"},"content":{"rendered":"<p>The problem arose when converting DEGEN to <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">ETH<\/a><\/strong> on the Degen Chain before transferring it to Base and reconverting it to DEGEN. Poor liquidity in the DEGEN\/ETH pool caused a large slippage, leading to the loss.<\/p>\n<p>This incident has raised concerns within the crypto community about the security and reliability of cross-chain transactions.<\/p>\n<p>Tempe.degen, the affected user, highlighted issues with the bridge used and the confusing interface, which contributed to the problem. This case underscores the broader issue of liquidity problems in DeFi pools.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/another-crypto-protocol-falls-victim-to-hackers\/\" title=\"Another Crypto Protocol Falls Victim to Hackers\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/pandasecurity-Who-are-the-most-famous-hackers-in-history.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Another Crypto Protocol Falls Victim to Hackers<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The incident has drawn attention to the need for improvements to prevent such losses and ensure user confidence in the growing crypto market.<\/p>\n<p>In <strong><a href=\"https:\/\/x.com\/degentokenbase\/status\/1813141615738781845?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1813141617814954389%7Ctwgr%5E0c24c7ce2b2388f6d14e69f93511a333deb419f7%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fcoingape.com%2Fdegen-chain-user-loses-90-of-funds-users-in-trouble%2F\" target=\"_blank\" rel=\"nofollow\">response<\/a><\/strong>, the platform took full responsibility and assured affected users of a refund. They acknowledged that such bugs should not occur, especially when dealing with user funds, and promised to address the service issues to prevent future incidents.<\/p>\n<p>The company is committed to making necessary changes to enhance the reliability and security of their services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Degen Chain user recently lost a significant portion of their assets, totaling 785,000 DEGEN, during a cross-chain transaction.<\/p>\n","protected":false},"author":3,"featured_media":30306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24,22],"tags":[],"class_list":["post-133291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - 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