Kava Lend loses roughly $3.8 million to hack as KAVA token falls nearly 40%

Kava Lend was hacked for roughly $3.8 million, and the stolen funds were moved off-chain: about 49.2 million KAVA was bridged to BNB Chain via LayerZero and sold for roughly $2.1 million in BNB and USDT. The KAVA token fell nearly 40% on the news. Traders should watch for further selling pressure and whether the protocol can contain the damage, since a large token dump on a DEX signals weak confidence in the project.