DeFi Platform Grand Base Suffers $2 Million Hack Financial Losses

Grand Base, a platform for assets tokenization on Coinbase's layer-2 blockchain, has disclosed a loss of $ 1.7 million due to a private key compromise. The occurrence resulted in a financial loss and a decline in the value of its token by 99% in a single day.

A severe security breach that was related to the Grand Base token (GB) shook the crypto community and resulted in a loss of nearly $2 million. This event caused an almost complete fall in the price of GB, dropping by 99% soon after the information about the hack was released.

TL;DR Exploitation of security at Grand Base results in losses of $1.7 million. The community is urged to avoid interacting with the affected contract and withdraw liquidity. Grand Base is collaborating with blockchain partners and analysts to recover funds and freeze accounts from hackers.

"Please remove your LP asap, we are very sorry for what happen," wrote a Grand Base admin.

Grand Base experienced a devastating hack and a significant security breach that shocked the DeFi community.

Grand Base, an RWA tokenization platform on the layer 2 Base network, suffered a major security breach.