Stars Arena, a platform powered by Avalanche’s Contract Chain, suffered a major security breach leading hackers to successfully takeaway 266,103 AVAX. The aftermath caused the AVAX price to tremble, dropping from $11.56 to $10.78. Securing the platform’s functionality and user funds is now their primary focus.
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Whale Losses: A $24 Million Lesson in Crypto Security and Lingering Vulnerabilities
“A large cryptocurrency investor recently lost $24 million, including Lido Staked ETH and Rocket Pool ETH, due to a phishing attack. This incident underscores questions about security in cryptocurrency ecosystem. It also emphasizes the need for caution when approving ERC-20 allowances and the importance of ongoing development of security measures within the crypto industry.”
Whale Dumps 972 Billion PEPE Tokens: Insider Trading or Market Instability?
A significant whale transaction involving 972.84 billion PEPE tokens has been reported by On-Chain Analysis platform Lookonchain, sparking insider trading speculations and coinciding with a decline in the token’s value. Recent whale activity has seemingly exacerbated the bearish outlook for the once-trending memecoin. As always, thorough market research is crucial before investing in cryptocurrencies.