{"id":74703,"date":"2023-02-27T16:18:49","date_gmt":"2023-02-27T14:18:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74703"},"modified":"2025-09-09T21:45:31","modified_gmt":"2025-09-09T18:45:31","slug":"launchzone-token-plunges-82-after-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/launchzone-token-plunges-82-after-hack\/","title":{"rendered":"LaunchZone token plunges 82% after hack"},"content":{"rendered":"<p>The LaunchZone DeFi protocol team on the BNB Chain network reported a hack. The project&#8217;s LZ token fell by 82%.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24LZ&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LZ<\/a> is being hacked from DND exploiter. The team is handling the situation, please don\u2019t buy the token at this stage. Please keep calm. We will update timely. <a href=\"https:\/\/t.co\/oXk3bFeSJF\">pic.twitter.com\/oXk3bFeSJF<\/a><\/p>\n<p>\u2014 LaunchZone (LZ.finance) (@launchzoneann) <a href=\"https:\/\/twitter.com\/launchzoneann\/status\/1630161294836768771?ref_src=twsrc%5Etfw\">February 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;LZ is being hacked. The team is handling the situation, please do not buy tokens at this stage, stay calm,&#8221; the message says.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/cointelegraph.com\/news\/700-000-drained-from-bnb-chain-based-defi-protocol-launchzone\">Cointelegraph<\/a>, the hacker drained the protocol\u2019s liquidity pool by 80%, moving assets worth $700,000 through <span data-descr=\"decentralized exchange\" class=\"old_tooltip\">DEX<\/span> PancakeSwap.<\/p>\n<p>Amid the incident, the LZ token price collapsed by 82.5% (<a href=\"https:\/\/www.coingecko.com\/en\/coins\/launchzone\">CoinGecko<\/a>). The coin is trading near $0.026, with a market capitalisation of about ~$165 300.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/D4vOHR_TWBvsbpK1YzcrEvdXO4U7NHxlBISUCwp70rTd6JC8Zu7VCJtrRkZAGD7Umg6EWFPt7v-IkoERccGA7GINONIJfPC9zWY5cg-dE7LJQquaIuVy1uIZ0QccKM428zodwGT503c9NnnKcUCM8ow\" alt=\"\u0422\u043e\u043a\u0435\u043d LaunchZone \u043e\u0431\u0435\u0441\u0446\u0435\u043d\u0438\u043b\u0441\u044f \u043d\u0430 82% \u0432 \u0440\u0435\u0437\u0443\u043b\u044c\u0442\u0430\u0442\u0435 \u0432\u0437\u043b\u043e\u043c\u0430\"\/><figcaption>Hourly chart of LZ\/USDT on PancakeSwap. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/LZUSDT_9CE4FC\/?exchange=PANCAKESWAP\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The project team decided to pause trading and transfers of LZ until the issue is resolved, \u201cgiven the current situation\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Please be informed that given the current situation, we have decided to pause the trading\/transferring of <a href=\"https:\/\/twitter.com\/search?q=%24LZ&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LZ<\/a> token until the problems are solved. Thanks for your understanding and please keep updated! <a href=\"https:\/\/t.co\/CMz4I5V1wb\">pic.twitter.com\/CMz4I5V1wb<\/a><\/p>\n<p>\u2014 LaunchZone (LZ.finance) (@launchzoneann) <a href=\"https:\/\/twitter.com\/launchzoneann\/status\/1630179849175269376?ref_src=twsrc%5Etfw\">February 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In 2022, <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>-industry losses from 167 major attacks <a href=\"https:\/\/u1f987.com\/en\/news\/report-crypto-industry-losses-from-hacks-in-2022-rise-to-3-6-billion\">amounted to about $3.6 billion<\/a>. BNB Chain led in the number of incidents across blockchains.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The LaunchZone DeFi protocol team on the BNB Chain network reported a hack. The LZ token fell by 82%.<\/p>\n","protected":false},"author":1,"featured_media":74704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1093],"class_list":["post-74703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74703"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74703\/revisions"}],"predecessor-version":[{"id":74705,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74703\/revisions\/74705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74704"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}