DeFi exploits resulted in losses of over $16 million in August. Several protocols were collectively exploited for $16 million, with Balancer protocol losing nearly $900,000 due to a vulnerability flagged months ago. Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. Shibarium’s second launch proved more stable as the layer-2 protocol already has over 100,000 new wallets, and USD Coin (USDC) is set to debut on Coinbase’s layer-2 platform later this week. The DeFi market had a late-week bearish decline due to an overall market fall after news of a delay in the decision on approval of a spot Bitcoin’s spot exchange-traded fund (ETF). $15.8 million in cryptocurrencies was lost in DeFi hacks and exploits in August, a significant decrease compared to July. Balancer was exploited for nearly $900,000 after disclosing a vulnerability. USDC will launch natively on Base network next week, replacing the current USD Base Coin (USDbC). Shibarium has surpassed 100,000 wallets on its platform after its relaunch. Most DeFi tokens traded in the red, and the total value locked in DeFi tokens remained below $50 billion.
