The Avalanche blockchain-based decentralized leveraged trading platform Defrost Finance revealed that both of its “Defrost V1” and “Defrost V2” versions are under investigation for hacking. Investors had reported losing their staked Defrost Finance (MELT) and Avalanche (AVAX) tokens from their MetaMask wallets when the announcement was made.
Serum has notified its community that it is now defunct. The community has already forked the project. OpenBook now has over $1 million in daily volume. Serum's volume and liquidity dropped to near zero after the launch of OpenBook. Many users felt like OpenBook was the safer option after Serum was compromised in the FTX hack.