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Decentralized Lending Protocol Project 0 Resumes Operations! After a major hack, do retail investors still dare to enter?
Decentralized lending protocol Project 0 announces it has resumed operations, but do you really understand the hidden risks behind this?
Previously, the Drift protocol was hacked, leading to a suspension of Project 0 and the initiation of deleveraging processes.
Now, $1.9147 million in losses have been distributed across the lending pool, with an average asset write-down of 2.61%.
Specific write-downs: USDC, SOL, USDT: 1% reduction; BTC, ETH: 2.61% reduction; WIF, BONK, and governance tokens: up to 6.62% reduction!
What’s even more concerning is that although the assets of the Drift protocol will be gradually unlocked and returned to affected users, the actual losses may be less than these figures, but they may not fully recover to previous levels.