# DeFi Exploit Drains Roughly $578,000 as Seoul Police Break Up $19 Million Staking Fraud

A reward-recycling manipulation drained a BNB Chain protocol while South Korean authorities arrested three people over a fake XRP staking platform, part of a steady series of mid-size crypto thefts.

- Published: 2026-07-31T05:29:19.625Z
- Canonical: https://polylog.news/crypto/2026-07-31/defi-exploit-drains-roughly-578-000-as-seoul-police-break-up
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [DeFiHackLabs](https://github.com/SunWeb3Sec/DeFiHackLabs/commit/311184fef6b995be019f6729c2bae279228ae5e8), [Polylog editors](https://polylog.news)

Mid-size crypto theft continued over the past day. Security researchers at DeFiHackLabs published a proof-of-concept for the LULA exploit, a reward-recycle deflation-manipulation attack on BNB Chain that drained roughly 578,000 USDT. In thi…

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