Just two months into the New Year and we already have another hack story for you. DeFi platform bZx has experienced two hacks in a matter of just a few days, resulting in the loss of about $298,000. BZx released a detailed report where they gave facts about the hack. It occurred over two periods and carted away over 1,198 ETH

The BZx team has said that the attack actually involved the use of assets from the Synthetix platform, specifically sUSD. This is the specific transaction that is being looked into. The second attack is believed by the team to have involved the manipulation of oracles, and as a consequence, the bZx team is speeding its integration with Chainlink’s oracles up to beef security up.

The margin trading and lending platform took a sizable reputational and financial hit as a result of the hack, with DeFi data platform DefiPulse showing a 31.5% drop over the past 24 hours. Founder of the Compound platform, Robert Leshner, said that bZx should cease operations until the matter has been sorted out. This is a really sad occurrence again in the Crypto world, with all the many hacks that happened last year.