In this week’s newsletter, September became the biggest month of crypto exploits in DeFi, with over $300 million in losses, and the popular DeFi lending protocol Yield announced its permanent closure by December.
The DeFi market had a mixed week in terms of price action, with most of the top 100 tokens trading in the same price zone as last week.September has officially become the worst month in 2023 for crypto-related exploits — with a whopping $329.8 million in crypto stolen. Yield Protocol will cease to exist after its December 2023 series ends, which is due to mature on Dec. 29. Yield Protocol’s announcement detailing the “wind down” operation confirmed that the March 2024 fixed rate series launch had been canceled.Jayant Kanani announced that he has stepped back “from the day-to-day grind” on the project for the first time in six years.