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CoinFea
CoinFea
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In a revealing Ask Me Anything (AMA) session, Cardano founder Charles Hoskinson took a firm stand against what he perceives as a misinformation campaign led by certain XRP community members. The dispute centers around the contentious “ETHGate” conspiracy theory, which accuses Ethereum insiders of unduly influencing the U.S. Securities and Exchange Commission (SEC) to favor Ethereum over Ripple’s XRP. Hoskinson vehemently dismissed these allegations, highlighting the absence of credible evidence to support claims of SEC bribery by Ethereum officials. He also expressed disappointment in Ripple’s leadership for not more aggressively denouncing these unfounded theories. SEC’s legal battles stir crypto community tensions The backdrop to Hoskinson’s comments is the ongoing legal battle between the SEC and Ripple, a lawsuit that has captivated the cryptocurrency world. As the case approaches its critical stages, Hoskinson pointed out the baselessness of the ETHGate theory and its irrelevance to the SEC’s legal actions against Ripple. This controversy unfolds while the SEC has recently targeted Cardano’s ADA token, suggesting it might be considered an unregistered security in actions against leading cryptocurrency exchanges. This move has sparked speculation about potential future legal challenges for Cardano, mirroring the scrutiny Ripple has faced. The AMA session shed light on the growing divide between supporters of Cardano and XRP, with Hoskinson lamenting the failed attempts at reconciliation. He attributed the ongoing discord to the XRP community’s adherence to conspiracy theories and their refusal to engage with factual counterarguments. This standoff underscores the challenges within the cryptocurrency community and reflects the broader issues of regulatory uncertainty and internal conflict that plague the industry. Conclusion: Seeking unity amidst crypto controversies Charles Hoskinson’s candid remarks during the AMA session highlight the need for a more unified approach to addressing the cryptocurrency industry’s challenges. As legal and regulatory pressures mount, the importance of dispelling misinformation and fostering dialogue between different community factions becomes increasingly apparent. The ability of industry leaders and communities to collaborate and navigate these complex issues will be crucial for the future of digital assets. The post Cardano founder calls out XRP misinformation campaign first appeared on Coinfea.

5 days ago
The Cryptonomist
The Cryptonomist
followers

In this article we talk about the latest news in the Solana crypto landscape, within which the decentralized exchange Jupiter stands out with its recent initiative “Jupiter Working Group” (JWG) aimed at promoting the project’s crypto community. This is a group of independent collaborators who offer to work on the growth of Jupiter and its crypto JUP, creating a proactive and productive decentralized ecosystem, and facilitating the coordination of the DAO. To form the working group, we find several prominent figures within the Solana community, who have previously worked for other well-known applications. Let’s see all the details below. Crypto panorama on Solana: the “Jupiter Working Group” supports the development of the DAO Two days ago, the Jupiter cryptographic project team presented to their audience on X the news of the “Jupiter Working Groups” (JWG), which are independent groups of people dedicated to the development of the broader Solana ecosystem and the growth of Jupiter and its crypto JUP. This is the first phase of a new experimental initiative, which seeks to bring together the leaders of the Solana community to enhance the potential of Jupiter and everything that revolves around it. In the coming months, several “working groups” will be formed, chosen based on the technical skills of each member and the community’s assigned objectives. At the debut of this new activity, we see how the first group will be formed by a former collaborator of Marinade Finance, by the manager of Solana Slugs, by the founder of RadiantsDAO, and by the founder of Lifinity. These experts have proven experience in managing community dynamics and implementing effective governance structures within decentralized ecosystems. The launch of JWG was led by the founder of Jupiter, “Meow,” who had announced the formation of the core community “Jupiter United Planet (J.U.P.)” a few days before, of which the working groups are a part. Now that the launch period is over, my main focus in the coming weeks is going to be kickstarting the third crucial component of Jupiter – Jupiter United Planet (J.U.P.) J.U.P represents the core community of Jupiter, and will have 3 main aspects: 1. Space Catdets: For… — meow (@weremeow) February 8, 2024 Going into more detail, the JWG in this first phase will have to: create a list of the best components of the Solana ecosystem that could receive Jupiter tokens as an incentive for internal development; manage processes for any new community candidates; moderate the community on Discord and organize the work of the moderators. In a broader perspective, the internal working groups within Jupiter will have the challenging task of facilitating the coordination processes of the DAO, working with transparency and maximum visibility to guide all stakeholders of the cryptographic project towards maximum expansion. The individuals in charge of the work will be funded directly by Jupiter DAO with a monetary contribution, while new members will be announced in the coming weeks as new strategic objectives are achieved. The collaboration between the community, the DAO, and the Jupiter team represents a fundamental pillar for the success of the JWG initiative, which will have a significantly intense impact on the future of the project. Many Solana environment experts agree that the introduction of this proposal could trigger a significant price increase in the medium term for JUP and indirectly also for SOL. Analysis of Jupiter’s on-chain data and JUP token performance Jupiter, the largest decentralized marketplace aggregator on Solana, has grown significantly in the last quarter of 2023 after attracting a lot of attention with the launch of its JUP crypto through airdrop to the community. On that occasion, approximately 700 million dollars in incentives were distributed in the form of tokens, to all those who have previously used the trading platform or have contributed to increasing the popularity of the Solana chain. For Jupiter, the event has been a great success, as the project, in addition to reaching a mass of new users, has managed to prolong the current hype until today, where we record very positive on-chain numbers. In particular, we can observe a cumulative trading volume that has exceeded 49 billion dollars, a number of swaps equal to approximately 129.2 million transactions, and a crowd of active traders that revolves around the figure of 1.8 million users. January has been absolutely the best month for Jupiter, where volumes and swaps have skyrocketed, beating every previous record of the platform. On the price front of the JUP crypto, we note that there has not yet been a real bullish rally for the coin after the airdrop on January 31st. At launch, JUP reached a peak of 0.87 dollars per unit, closing its debut day at 0.63 dollars, and then going through a slow bearish distribution phase until today, where the cryptographic asset is traded for 0.49 dollars. The project has a capitalization of 663 million dollars, with a circulating supply equal to 13.5% of the total supply and with a trading volume in the last 24 hours equal to 200 million dollars. For now, the initiative of the “Jupiter Working Group” and the participation of a large part of the Solana community have not helped to raise the price of the cryptocurrency, still victim of the classic post airdrop resting phase. In the medium term, this token has all the characteristics to perform well, potentially surpassing the previous all-time high and bringing joy to its token holders. In order to move into the bullish phase, the crypto JUP must necessarily position itself above the 4h timeframe EMA 50, bringing the prices above the psychological threshold of $0.5, and then surpassing the next obstacle at $0.59. The most important resistance is instead at $0.65, which if broken could trigger a truly remarkable upward trend for one of the best projects in the Solana cryptocurrency territory. The bears are aiming for a daily close below $0.45, which could push the prices of the digital currency even lower. For now, given the limited price history, we prefer to wait for the chart to take a clear direction to evaluate forecasts and hypothetical entry points for a speculative trade. In the medium term, the chances are for a crypto rally, which will experience its first bull run in the coming months. 4-hour chart of Jupiter price (JUP/USDT)

12 days ago
Voice Of Crypto
Voice Of Crypto
followers
  • Conflict arose within the crypto Bitcoin Ordinals community as the BRC-20 creator clashed with a wallet provider over a new upgrade. - The world witnessed the first virtual rape incident involving a teenage girl in Horizon Worlds, sparking legal and ethical debates about the metaverse. - 2023 saw the disappearance of nearly 6,000 crypto ATMs, signifying a notable decline in accessibility to cryptocurrency. - Even leading security firm CertiK fell prey to a phishing scam, highlighting that no entity is immune to being targeted. - Despite an overall reduction in crypto hacks, Ethereum remained the most targeted platform throughout 2023. The first week of the new year brought a whirlwind of events across the crypto sphere, encapsulating controversies within Ordinals, a troubling incident in the Metaverse, a decline in crypto ATMs, security breaches, and insights into 2023's crypto security landscape. 1. Ordinals Conflict: Disagreements surfaced within the Ordinals camp, particularly between UniSat and the creator of the BRC-20 token standard, Domo, over the introduction of Jubilee, resulting in the first internal discord. 2. Metaverse Incident: A distressing occurrence unfolded in Horizon Worlds, where a young girl was virtually assaulted, raising questions about addressing metaverse-related crimes. 3. Crypto ATM Decline: Approximately 6,000 crypto ATMs vanished in 2023, marked by a decline starting from March, with intermittent installation upticks but ending with a substantial decrease. 4. Security Breaches: CertiK's Twitter account fell victim to a phishing scam orchestrated by posing as Forbes, highlighting the vulnerability of even leading security firms. 5. Crypto Security Insights: SlowMist's report unveiled a decrease in crypto security incidents but highlighted Ethereum and Polygon as the most targeted platforms, with DeFi being the most vulnerable sector. For comprehensive details on these events, please refer to the attached PDF. Remember, while we aim for accuracy, the volatile nature of cryptocurrencies necessitates thorough research and prudent decision-making. #BitcoinETFs! #BitcoinETF💰💰💰 #BTC/Update #BTCETF #BTCETFApproval $BTC
about 2 months ago
Snapfingers 响指研究所
Snapfingers 响指研究所
followers

🐝🐾 Meta Merge Cute Pet Mobile Game is the earliest and most playable GameFi in the Ultiverse (Electric Sheep) SDK ecosystem, and has a high degree of attention on the BNB Chain. Meta Merge will begin internal testing in July 2023 and will be officially launched on November 18. The game APP can be downloaded directly through the Apple/Google store, and the experience is smooth. After logging in through the Uliverse game account, a managed wallet will be automatically generated and associated, providing a very smooth entry experience for potential Web2 players. Project information 👾Game name|Meta Merge 🪙Token name|$MMM 🔗Supported blockchains|BNB Chain 🖥Supported clients|Android, iOS Meta Merge official website: https://www.metamerge.xyz/ Meta Merge official Twitter: https://twitter.com/metamerge_xyz Discord official community: https://discord.gg/CM7yEDUEmt Background of the project Meta Merge is an SDK mobile game incubated by Ultiverse and is the first popular game in the Ultiverse game ecosystem. Ultiverse is powered by Binance and DeFia

2 months ago
koinmilyoner
koinmilyoner
followers

In a stunning flip this week, the Solana Saga phone—which was previously unable to find a buyer—is now selling for as much as $5,000 on the online marketplace Ebay, a significant increase from its earlier summer discount. Following the phone's detractors' accusations of a "failure," demand for the Solana-based meme currency BONK surged, with its value increasing by more than 10,000% in only two months. $SOL The BONK Airdrop Sets Solana Saga Phones Freefalling Some arbitrage traders appeared to be seeking an airdrop of 30 million BONK tokens, which are issued to all phone owners, and this appears to have bolstered sales of Solana Saga phones last week. At its highest point last week, the airdrop was worth almost $700 on a phone that cost $599. One innovative feature of the blockchain-enabled smartphone Saga is its capacity to securely store bitcoin on the device's internal components. A ad on the internet marketplace eBay from December 16th stated that two phones, both in their original packaging and never opened, were sold for $5,000 or "best offer," while another phone went for $3,316 or "best offer." Unhappy with sales and the phone's future, the $1,000 Saga emerged earlier this year. The inventor of Solana, Anatoly Yakovenko, has earlier admitted that Saga's future was uncertain because of its disappointing sales performance. But now that the newest BONK panic has passed, the storyline has changed. The dog-themed BONK was accepted by blockchain users in early November, and its popularity skyrocketed, with prices increasing as much as 700% in 30 days and as much as 110% in a single day. At the moment, SOL's market value is $32.31 billion. Indicator: TradingView.com After initial concerns about the Saga phone's future were expressed due to its poor sales, that seemed to alleviate its status. The 30-million BONK token airdrop that comes with every new Saga phone was observed last week by enthusiasts and dealers. Due to the unexpectedly high price of BONK, the Saga phones sold out on the official website before they ever arrived. This was because the airdrop was worth more than the phone itself. Discord Breaks Out as Sales of Saga Skyrocket Saga Discord server was down on Thursday due to new people claiming to have bought the phone and wanted to get the airdrop. According to the Discord server posts, the BONK airdrop is open to users who have downloaded the app via Saga's crypto-forward custom app store. According to a post by Solana co-founder Raj Gokal on X made at noon on Thursday, sales of Saga had increased by more than tenfold in the past two days, and they are on track to sell out entirely before the new year. Anatoly Yakovenko, Gokal's colleague, went to Twitter to announce the necessity of a price cut in light of the remarkable uptick in sales. Phone customers might not be putting all their eggs in the $BONK pricing basket just yet, what with all the Solana-based initiatives announcing airdrops and other financial incentives for device users. #BONK #sol #Airdrop🪂

2 months ago
Cryptopolitan
Cryptopolitan
followers

Russia, a nation accustomed to navigating through tumultuous waters, finds itself at a critical juncture as internal divisions among its top brass threaten to destabilize its already fragile economy. Igor Sechin, CEO of Rosneft and a close confidant of President Vladimir Putin, recently vocalized criticism of the central bank’s high interest rates and its alleged shortcomings in establishing a cross-border payment system amid the current sanctions. This discord at the upper echelons, particularly between Putin’s security circle and economic technocrats, is not a new phenomenon. However, its emergence into the public sphere amidst an ongoing crisis and the upcoming presidential election in 2024 casts further shadows on Russia’s economic strategy. The Crux of the Crisis The roots of Russia’s current economic predicament can be traced back over 15 years, through a series of global and local upheavals. Starting with the 2008 financial meltdown, followed by a plunge in commodity prices in 2014-15, the imposition of Western sanctions post-Crimea annexation, and the crushing impact of the Covid-19 pandemic, Russia’s economy has been in a near-constant state of flux. The situation further deteriorated after the 2022 invasion of Ukraine led to a new round of severe sanctions. This relentless sequence of crises has left Russia’s economy lagging significantly behind its peers. In 2022, its GDP per capita plummeted to 35% and 32% lower than Poland and Turkey, respectively, a stark contrast to its 2008 standings. Putin’s strategy for economic management has always involved a delicate balance. He has allowed former security service colleagues to amass influence and wealth through corporate control while entrusting the economy’s reins to cautious technocrats like Anton Siluanov, the Finance Minister, and Elvira Nabiullina, the Bank of Russia governor. This approach facilitated a semblance of stability, adhering to global fiscal standards and market-based economy principles. However, successive crises have forced a shift from principled policy-making to makeshift solutions. The Impending Economic Storm The current scenario in Russia is one of policy improvisation under duress. The nation’s ‘rainy-day fund’ has been depleted to support increased defense spending, diminishing by $65 billion since July 2022. The central bank’s independence has been compromised, evidenced by its reactive measures like the abrupt interest rate hikes to salvage the falling rouble. Moreover, the government has introduced novel concepts like “voluntary” taxes, effectively pressuring corporations into unscheduled state contributions. Putin’s directive for “manual control” in times of crisis, issued post-Crimea annexation, has resurfaced, manifesting in an absence of clear policy guidelines. This ad-hoc approach to crisis management is compounded by disagreements among Russia’s top officials over handling Western sanctions, budgetary allocations for the war in Ukraine, and the need for increased social spending to quell potential public unrest. With Russia’s presidential election looming, economic policy differences may be momentarily subdued as Putin sets the agenda. However, critical decisions await post-election, including strategies to finance the looming budget deficit, the possibility of stringent capital controls, and determining the lead role in combating rampant inflation. The IMF estimates a 2.5% GDP deficit for the next year, with oil prices reverting to January 2021 levels, posing further challenges. In essence, Russia stands at a precarious economic crossroads, with its future policy direction hinging on the whims of the latest influencer in Putin’s inner circle. The lack of a cohesive, principle-driven economic strategy in these turbulent times is not just a concern for Russia but a warning sign for the global economy. As the country navigates through these choppy waters, the world watches, anticipating the impact of Russia’s internal tiffs on its economic destiny.

2 months ago
Bitcoinworld
Bitcoinworld
followers

BRICS nations, especially Russia, China, and India, are attempting to replace the USD with their local currencies for global trade. Internal conflicts and geopolitical rivalries within BRICS, particularly between India and China, hinder this ambition. Despite efforts, the dominance of the USD in international trade remains largely unchallenged due to these internal divisions. The global financial landscape is witnessing a tectonic shift with BRICS nations, especially Russia, China, and India. These nations are steering towards an ambitious plan. The objective of these nations is to sideline the USD in favor of local currencies for international trade. This move, spearheaded predominantly by China, is gaining momentum as it woos other developing nations to jump on the bandwagon. The strategy involves persuading countries like Saudi Arabia, Pakistan, Russia, India, and some African nations to switch from the USD to local currencies like the Chinese Yuan for bilateral trade settlements. China’s persuasive tactics have been successful to some extent. This eastern giant’s influence is not just limited to its immediate neighbors but extends across continents, reshaping the way global trade operates. Simultaneously, Russia, another key player in the BRICS alliance, is circumventing US sanctions by offering crude oil at discounted rates to developing countries, insisting on payments in either the Chinese Yuan or the Russian Ruble. India, not to be left behind, is fostering new trade agreements with nations like the UAE, advocating for the Indian Rupee over the USD in global trade dealings. See Also: Pakistan Makes Surprising Move To Join BRICS BRICS and Its Currency Powerplay The underlying strategy of these BRICS nations is clear: elevate their local currencies to a stature that challenges, if not replaces, the dominance of the US dollar in global trade. But is this just a pipe dream, or can Russia, China, and India make it a reality? The answer isn’t straightforward. While on paper, the idea seems feasible, the internal dynamics within BRICS paint a different picture—one fraught with rivalry and discord. At the heart of this complexity is the interplay of national interests and regional geopolitics. India, for instance, views China’s push for the Yuan in global transactions as a direct threat to its financial sovereignty and a step towards Chinese global financial domination. The historical animosity and ongoing border disputes between these two Asian giants only add fuel to this fire, with domestic political narratives often sharpening these divisions. See Also: Why BRICS Currency Would Outshine The US Dollar The Infighting: A Roadblock to Ambition Furthermore, the ambitions of these nations are not just economically driven; they are deeply entangled in the web of regional politics. India’s discontent is further aggravated by Russia’s efforts to bring Pakistan, a historical rival of India, into the BRICS fold. Such moves could potentially strain the long-standing India-Russia relations and expose the cracks within the BRICS framework. The internal strife within BRICS is not merely a disagreement over strategy but a reflection of the deep-seated quest for regional supremacy and influence. This disharmony raises a critical question: Can these nations, with their contrasting agendas and mutual distrust, truly unite to dethrone the USD? The aspiration of BRICS to replace the USD with local currencies seems more like a geopolitical chess game than a unified economic strategy. The inherent infighting and the pursuit of individual national interests overshadow the collective goal. If the Yuan aims to usurp the dollar, India balks; if the Rupee makes a move, China bristles. This tug-of-war ensures that the US dollar, for now, remains the undisputed kingpin of global trade. The dream of BRICS to elevate local currencies as dominant trade mediums, at least in the foreseeable future, remains just that—a dream. The post BRICS Nations To Ditch The USD With Local Currencies For Global Trade appeared first on BitcoinWorld.

3 months ago
Cryptopolitan
Cryptopolitan
followers

The global financial landscape is witnessing a tectonic shift with BRICS nations—Russia, China, and India—steering towards an ambitious plan. Their objective? To sideline the US dollar in favor of local currencies for international trade. This move, spearheaded predominantly by China, is gaining momentum as it woos other developing nations to jump on the bandwagon. The strategy involves persuading countries like Saudi Arabia, Pakistan, Russia, India, and some African nations to switch from the US dollar to local currencies like the Chinese Yuan for bilateral trade settlements. China’s persuasive tactics have been successful to some extent. This eastern giant’s influence is not just limited to its immediate neighbors but extends across continents, reshaping the way global trade operates. Simultaneously, Russia, another key player in the BRICS alliance, is circumventing US sanctions by offering crude oil at discounted rates to developing countries, insisting on payments in either the Chinese Yuan or the Russian Ruble. India, not to be left behind, is fostering new trade agreements with nations like the UAE, advocating for the Indian Rupee over the US dollar in global trade dealings. BRICS and Its Currency Powerplay The underlying strategy of these BRICS nations is clear: elevate their local currencies to a stature that challenges, if not replaces, the dominance of the US dollar in global trade. But is this just a pipe dream, or can Russia, China, and India make it a reality? The answer isn’t straightforward. While on paper, the idea seems feasible, the internal dynamics within BRICS paint a different picture—one fraught with rivalry and discord. At the heart of this complexity is the interplay of national interests and regional geopolitics. India, for instance, views China’s push for the Yuan in global transactions as a direct threat to its financial sovereignty and a step towards Chinese global financial domination. The historical animosity and ongoing border disputes between these two Asian giants only add fuel to this fire, with domestic political narratives often sharpening these divisions. The Infighting: A Roadblock to Ambition Furthermore, the ambitions of these nations are not just economically driven; they are deeply entangled in the web of regional politics. India’s discontent is further aggravated by Russia’s efforts to bring Pakistan, a historical rival of India, into the BRICS fold. Such moves could potentially strain the long-standing India-Russia relations and expose the cracks within the BRICS framework. The internal strife within BRICS is not merely a disagreement over strategy but a reflection of the deep-seated quest for regional supremacy and influence. This disharmony raises a critical question: Can these nations, with their contrasting agendas and mutual distrust, truly unite to dethrone the US dollar? The aspiration of BRICS to replace the US dollar with local currencies seems more like a geopolitical chess game than a unified economic strategy. The inherent infighting and the pursuit of individual national interests overshadow the collective goal. If the Yuan aims to usurp the dollar, India balks; if the Rupee makes a move, China bristles. This tug-of-war ensures that the US dollar, for now, remains the undisputed kingpin of global trade. The dream of BRICS to elevate local currencies as dominant trade mediums, at least in the foreseeable future, remains just that—a dream.

3 months ago
CoinFea
CoinFea
followers

Pepe (PEPE), the once-buzzing meme cryptocurrency, is grappling with setbacks that have cast a shadow over its future. The digital currency, which had captured the imagination of online communities, is now facing a crisis of trust following alleged security breaches and internal discord. The first blow came when the primary Telegram channel for Pepe, a hub for nearly 45,000 enthusiasts, was reportedly compromised. The original contributors have disavowed any association with the channel and are urging the community to consider it fraudulent. This has led to a call for a new, secure platform for communication among Pepe supporters. Adding fuel to the fire, a key social media account on X, formerly known as Twitter, has also reportedly fallen into the wrong hands. Known as “LordKekLol,” this account was once a reliable source of information for the Pepe community. However, it is now suspected of disseminating scams and misleading information, further eroding trust among investors. Interestingly, the current handlers of the “LordKekLol” account deny any hacking and suggest that the original Pepe team is undergoing internal strife. This has led to a wave of skepticism, with community members urging caution and verification of any Pepe-related investment opportunities or announcements. Financially, Pepe is also in a precarious position. The coin has seen a 3% drop in value, and large holders have reportedly sold off a staggering 2.3 trillion PEPE for Ethereum. Additionally, a massive dump of 16 trillion PEPE on the OKX exchange has further dented the community’s confidence. As Pepe navigates these choppy waters, the question that looms is whether it can regain its lost glory, or if this is the beginning of the end for the once-popular meme cryptocurrency. With allegations of hacking, internal disputes, and a declining market, the digital coin is at a critical juncture, and its future remains uncertain. The post Meme crypto Pepe’s future uncertain amid security and trust issues first appeared on Coinfea.

6 months ago
Coinpedia
Coinpedia
Terra Classic Community Proposes Binance CEO to Lead Revival Efforts for LUNC
8 months ago
CoinEdition
CoinEdition
followers

Scam allegations and security breaches push SHIB and PEPE to 30-day lows, sparking investor caution. Pawswap’s alleged attack on Shibarium raises questions despite Certik awarding it a silver KYC badge. Pepe’s Telegram hack and massive token theft exacerbate market instability, driving a 19% drop in trading volume. Scams have increased in the crypto landscape, and meme coins like Shiba Inu (SHIB) and Pepe (PEPE) are feeling the impact. Specifically, SHIB’s Shibarium network and PEPE’s Telegram group have been plagued with issues, leading to bearish sentiment in both markets. Moreover, these developments have caused both currencies to hit 30-day lows, intensifying the urgency for investor caution. Scam Allegations Rock Shibarium Recently, a significant player on the Shibarium tech team, Digarch, highlighted a warning from Shibarium tech admin DaVinci. The alert was about a project named “Pawswap,” accused of funding attacks on the Shibarium network. Consequently, DaVinci urged the community to avoid the project, terming it a “Scam or Shitcoin.” This is the personal opinion of our @Shibariumtech admin DaVinci and #NFA. Remember, I've been sharing @PawZoneOfficial $Paw with you since it launched. @PawzaarOfficial is one of the features and will be one of the first #NFT marketplaces on #Shibarium to rival @opensea.… pic.twitter.com/Ya125SLH8J — Digarch Stan | Summer Of Shibarium (@Digarch) September 10, 2023 However, Digarch clarified that Pawswap should be distinct from Pawzone, a legitimate project. Significantly, Pawzone is behind the upcoming NFT marketplace Pawzaar, which will soon launch on Shibarium. Meanwhile, another user on the social platform X contested the scam allegations. They pointed out that blockchain security firm Certik had awarded Pawswap a silver KYC badge, stirring confidence among potential investors. Pepe Telegram Hack Adds Fuel to Fire In addition to the existing market instability, Pepe Coin’s Telegram account recently suffered a breach. Hence, an unauthorized user, who goes by “lordkeklol,” took over the account. The individual began promoting scams and other crypto projects, compromising the coin’s reputation. ❌❌ $PEPE Announcement❌❌The old telegram for $PEPE is hacked and no longer in our control. The “lordkeklol” account has been compromised. Whoever has gained access to this account is using it to push scams and deceive people and launch other coins. This person is lying and… pic.twitter.com/jxlYwoSP1Q — Pepe (@pepecoineth) September 9, 2023 Additionally, the Pepe team requested the community to report this account, pledging future updates would come exclusively from their official X account. PEPE/USD 7-day price chart (source: CoinStats) Interestingly, the PEPE coin has already faced internal discord and massive token theft. Over 16 trillion PEPE tokens were stolen and funneled into various centralized exchanges. As a result, trading volume dropped by nearly 19%, instigating fears of further decline. Market Reactions and Investor Sentiment While these scam allegations and security issues have not been definitively proven, they have notably impacted market behavior. Shiba Inu prices have tumbled from a 24-hour high of $0.000007418 to a 30-day low of $0.000007207. SHIB/USD 7-day price chart (source: Coinstats) Similarly, PEPE’s value slid from an intra-day high of $0.0000007261 to a 30-day low of $0.0000006785. Consequently, these developments suggest a bearish sentiment among investors. The recent scam allegations and security breaches surrounding SHIB and PEPE highlight the necessity for due diligence. Shytoshi Kusama, Shibarium’s lead developer, has consistently emphasized the importance of research, a sentiment that now appears more relevant than ever. Given the turbulent market conditions, investors should proceed with extreme caution. Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss. The post PEPE, SHIB Dip to 30-Day Lows Amid Scam and Security Issues appeared first on Coin Edition.

6 months ago
TheNewsCrypto
TheNewsCrypto
followers

Pepe’s multisig wallet hacked; 16T tokens ($15M) sold. Discord within team, leaving lone member in charge. In an unexpected turn of events on August 24th, 2023, the infamous memecoin Pepe community was rattled by a series of transactions involving the project’s multisig wallet. Approximately 16 trillion PEPE tokens, valued at around 15 million USD. They were transferred from the wallet to multiple crypto exchanges, including OKX, Binance, Kucoin, and Bybit. The shocking move significantly reduced the required signer count to 2 out of 8 wallets. It left the multisig with 10 trillion tokens and a solitary signer. In a bid to provide clarity to the community, an anonymous founding member came forward to share their perspective on the situation. According to their account, the project had been plagued by internal strife from its inception, characterized by clashes among team members driven by greed. Meanwhile, the project’s multisig wallet, crafted to mandate approval from 3 out of 4 signers for transactions, took center stage in the controversy. The founding member asserted that the three ex-team members, previously disconnected from the project, abruptly resurfaced. Allegedly, they illicitly accessed the multisig, absconding with 16 trillion tokens—equivalent to 60% of the total—before proceeding to offload them on exchanges. an announcement to the $PEPE community: Yesterday on August 24th, 2023, a series of unexpected transactions took place from the $PEPE multisig CEX Wallet in which ~16 Trillion $PEPE tokens (worth roughly $15m USD) were transferred to various crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw — Pepe (@pepecoineth) August 26, 2023 What Lies Ahead? Expressing shock at the developments, the remaining founding member issued an apology to the community for the uncertainty caused. And assured the community that control over the official Pepe twitter account. And the remaining 10 trillion tokens remained secure and protected from the ex-team members. Once all is set and complete, I would like PEPE to be left in a position where it can stand and thrive as strong as ever in a truly decentralized and anti-fragile state. Together, we are all PEPE. said the anonymous founder. Furthermore, they disclosed their intention to transfer the remaining tokens to a new wallet while awaiting a definitive resolution. Additionally, they suggested the prospect of burning tokens upon finalizing pending acquisitions or donations. However, The response from the community varied. With some expressing optimism about the announcement expecting a bull rally. And others raised skepticism and questioned the credibility of the provided information. Finally after the announcement PEPE saw a mild surge of 1.16% in 24 hours. It rebounded from its consequent 16% percent dump cause of the allegations and now the price stands at $0.0000008971.

3
1
6 months ago
Web3 Insider
Web3 Insider
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Shiba Inu’s (SHIB) price slipped double-digits in the past 24 hours, contrary to community expectations of a strong upward trend brewing after the launch of the much-hyped Ethereum layer-2 solution, Shibarium, on Wednesday. SHIB’s decline is attributed to certain Shibarium bridging issues encountered just a day after its rollout. Botched Shibarium Sees $1.7M Stuck Between Networks Shiba Inu’s Shibarium is off to a rocky start after going live late Wednesday. A look at the network’s bridge contract, which moves funds from Ethereum to the layer-2 network, shows that roughly $1.7 million worth of ether is currently stuck between the two networks. Blockchain security firm Beosin confirmed that the funds are indeed locked. They have recommended users briefly stop utilizing Shibarium as a precautionary measure. Shiba Inu developer Shytoshi Kusama (a pseudonym) Shytoshi reportedly revealed that the assets stuck in the bridge could not be recovered, as per a screenshot that supposedly captures an internal conversation on Telegram between Shibarium devs. Users swiftly voiced their concerns on the Shibarium Discord server, which led to admins temporarily “restricting access to certain channels due to the spread of misinformation and fake websites”. The apparent sloppy launch for Shibarium impedes what was supposed to be the doorway to a fast and low-cost ecosystem. The bridge is part of a broader strategy to position Shiba Inu as a serious decentralized finance (DeFi) contender and subsequently increase its chances of leaving the meme coin category behind. Initially launched in August 2020, SHIB quickly joined the likes of Dogecoin (DOGE) as yet another meme coin to the annals of cryptocurrency comedy. Shytoshi Publicly Denies Any Shibarium Technical Hiccups Shytoshi has ardently refuted claims that Shibarium has any inherent issues while assuring users about the security of their funds. Kusama said in a newsletter today that the “technical difficulty is not an issue of Shibarium, but instead, from the MASSIVE influx of transactions and users that happened at the same time when we announced that the Shibarium is live.” “There is no bridge issue, any screenshot you see of me saying any issue is false and your funds are safu,” he continued. Nonetheless, the price of SHIB has slumped to a weekly low of $0.00000857 at press time, or down 11.2% in the last 24 hours, while governance token BONE has slipped more than 13.7% during the same timeframe as community sentiment sours. The ecosystems’ LEASH token fared far worse plunging 19.3% on the day.

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