Fun

News Feed - 2023-11-03 10:11:27

Amaka Nwaokocha10 hours agoSafeMoon addresses recent exploits amid SEC chargesSafeMoon says it is closely examining the recent developments and will work to resolve the situation promptly.4831 Total views5 Total sharesListen to article 0:00NewsJoin us on social networksDecentralized finance project SafeMoon, which was charged by the United States Securities and Exchange Commission (SEC) for security rules violations and fraud, has said that it is closely examining recent developments and will work to resolve the situation promptly.


According to a statement made by the project on X (formerly Twitter), its teams are actively developing and remain committed to serving users, advancing the project’s vision and pursuing its mission.


SafeMoon was exploited in March, resulting in a net loss of $8.9 million in BNB (BNB). The capital linked to the security breach has been moving through centralized exchanges, with blockchain analysis company Match Systems suggesting these transactions may hold significant relevance for law enforcement authorities.We are reviewing the recent news and we of course take these issues extremely seriously.

As we receive more information, we will do our best to address the situation as quickly as possible.

In the meantime our teams continue to build and we keep our focus on delivering for…— SafeMoon (@safemoon) November 2, 2023


According to an analysis by Match Systems, the attacker took advantage of a vulnerability in SafeMoon’s smart contract related to the “Bridge Burn” feature, enabling the execution of the “burn” function for SafeMoon (SFM) tokens at any address.


Related:New crypto litigation tracker highlights 300 cases from SafeMoon to Pepe the Frog


The exploiters’ action entailed transferring 32 billion SFM tokens from SafeMoon’s liquidity pool address to SafeMoon’s deployer address, causing a rapid increase in token value. Leveraging the price surge, the exploiter exchanged some SFM tokens for BNB at an inflated rate, resulting in a transfer of 27,380 BNB to the hacker’s address.


Match System’s analysis determined that the smart contract vulnerability was absent in the previous version and was introduced with the new update on March 28, coinciding with the day of the exploit. This has raised suspicions of potential insider involvement.


The individual responsible for the attack initially stated that they accidentally exploited the protocol and expressed a desire to establish a means of communication to return 80% of the funds.


Magazine: Huawei NFTs, Toyota’s hackathon, North Korea vs. Blockchain: Asia Express# Cryptocurrencies# Technology# Hackers# Crimes# Tokens# Hacks# DeFiAdd reactionAdd reactionRead moreHelp or hindrance: Is Web3 really improving mainstream industry and products?Opinion: With Bitcoin’s halving months away, it may be time to go risk-onPlatypus Finance recovers 90% of assets lost in exploit

News Feed

Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEck’s Sigel
Este artículo también está disponible en español. Bitcoin could soar to $180,000 in 2025 if key cycle top indicators remain muted, according to Matthew Sigel, Head of Dig
Spanish Airline Vueling to Accept Cryptocurrency as Means of Payment
Spanish Airline Vueling to Accept Cryptocurrency as Means of Payment Vueling, a low-cost Spanish airline, has announced it is exploring the functionality of blockchain and NFT (non
Crypto Advocates Weigh ETF Rejection — Veteran Trader Peter Brandt Says Bitcoiners Should ‘Oppose Spot Bitcoin ETFs in US’
Crypto Advocates Weigh ETF Rejection — Veteran Trader Peter Brandt Says Bitcoiners Should "Oppose Spot Bitcoin ETFs in US’ Following the Securities and Exchange Commission
Sheikh Hamad Salem Becomes a MaskEX Shareholder as Both Parties Collaborate to Develop a Smart City in the UAE
Sheikh Hamad Salem Becomes a MaskEX Shareholder as Both Parties Collaborate to Develop a Smart City in the UAE press release PRESS RELEASE. Sheikh Hamad Rakadh Salem Hamad Alameri,
EU releases crypto-asset classification tools to help firms comply with MiCA
Savannah Fortis10 hours agoEU releases crypto-asset classification tools to help firms comply with MiCAEU regulators introduce standardized crypto-asset classification under MiCA with a new test and guidelines to ensure
India hosts 8M gov’t docs across 5 blockchains
Arijit Sarkar11 hours agoIndia hosts 8M gov’t docs across 5 blockchainsIndia primarily makes use of three blockchain platforms for the development of the products — Hyperledger Fabric, Hyperledger Sawtooth and Ethere
Li.Fi releases incident report following $11M hack
Vince Quill13 hours agoLi.Fi releases incident report following $11M hackThe team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.848 Total views
Dogecoin At Make-Or-Break Point After Multi-Year Trendline Test
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
10 signs you’ve been in the crypto industry too long
Yohan Yun10 hours ago10 signs you’ve been in the crypto industry too longDiscover the telltale signs of a true crypto veteran through market crashes, memecoins, and the highs and lows of digital gold.6133 Total views5
Biggest Movers: SOL, NEAR Fall Over 10% During Tuesday’s Session
Biggest Movers: SOL, NEAR Fall Over 10% During Tuesday"s Session Crypto markets were down across the board on Tuesday, as bears re-entered the market, following strong gains on Mon
Biggest Movers: LTC, ATOM Extend Declines, Hitting 10-Day Lows 
Biggest Movers: LTC, ATOM Extend Declines, Hitting 10-Day Lows  Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. C
XRP Breaking Barriers As Bullish Surge Targets $2.25 And Beyond
Este artículo también está disponible en español. The crypto market is buzzing with excitement as XRP, one of the most resilient digital assets, stages a remarkable comeb