ParaSpace Implemented Withdrawal Timelock Security Enhancement

ParaSpace NFT has announced that their Withdrawal Timelock Security Enhancement is now fully implemented and the platform is back up and running at full capacity, ahead of schedule. This means that users can confidently enjoy all the features on the platform, with their assets even more secure than before thanks to the new timelock upgrade and other security enhancements currently underway.

ParaSpace NFT is a decentralized and permissionless protocol focused on NFT financialization. The protocol suffered a hack in early March, resulting in a loss of 150 $ETH. The platform was able to prevent the attacker from stealing around 2,900 $ETH worth of Bored Ape Yacht Club (BAYC) NFTs by noticing a suspicious transaction and halting the entire protocol.