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. ZK-proofs are being used to power layer-2 scaling solutions and enable private transactions. Optimism network surpassed Arbitrum in transaction volume for the first time in six months. The total value locked in DeFi protocols remained below $50 billion.
