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Onyx to shutdown Ethereum-based lending market, relaunch Onyx Core

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Onyx Core is set to relaunch after a significant security breach that resulted in the loss of $3.8 million. The company announced plans to enhance its security protocols and restore its platform in the wake of the incident.

The hack, which occurred earlier this year, exploited vulnerabilities within Onyx Core’s infrastructure, prompting the team to undertake a comprehensive review and overhaul of its systems. In response, the company has committed to implementing advanced security measures to prevent future breaches.

As part of the relaunch, Onyx Core aims to regain user trust by providing transparent updates and a robust security framework. The team has also indicated that user funds will be prioritized during the recovery process.

The incident has raised concerns within the cryptocurrency community about the security of digital assets, underscoring the importance of stringent security practices for blockchain platforms.

Onyx Core’s relaunch is being closely watched, and the company is determined to turn this setback into an opportunity for growth and improved security.

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