Social Tokens Crash After a Reported Hack at Roll Wallet
A number of social tokens, or cryptocurrencies supporting online communities, tanked early Sunday after a reported security breach at Roll.
Tokens like WHALE, RARE and PICA tanked more than 50% during the early European hours, according to data provider CoinGecko. Meanwhile, the RLY token of competing social money platform Rally spiked to all-time highs.
The founder of WHALE, a social coin underpinned by a basket of non-fungible tokens (NFTs), confirmed the hack on Twitter, stating that 2.17% of the coin’s supply has been compromised and the rest is secure in the cold storage.
Roll facilitates the sending and receiving of social money from Ethereum blockchain and within the Roll network.
According to MyCrypto.com, the malicious entity that executed the Roll hack is now sending 100s of ether (ETH, -2.51%) to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.
Recommended News
-
Exploit Network closes $1.5 million funding round
On March 19, Exploit Network, a multi-chain privacy payment protocol, closed a $1.5 million initial round of funding from BlockCapital, HashFund and seven other institutions and listed companies. The team plans to use the funding to hire more technical engineers to build multi-chain interoperable application scenarios. Exploit Network is currently in its early stages and the team’s founder, Cora, was previously with DataCom, a leading IT company in New Zealand, working on network engineering architecture. Cora is also a core member of the local Auckland-based Geeks Anonymous group and has…
Business 03/21/2021 -
Fintoch: Alleviating DeFi Onboarding Barriers for TradFi
We are no doubt weathering the harshest “winter” in crypto, with CoinGecko reporting a 74.6% DeFi market crash to $36 billion in Q2, 2022. What’s worse is that DeFi related hack is exacerbating this downfall. As REKT Database shown, DeFi related exploits surged significantly in May. Despite the low morale in the crypto market, true believers continue to build in the bear market and TradFi investors are still eager to get a taste of the “hearsay” high yielding DeFi protocols. Fintoch Investment platform, the key product of Morgan DF Fintoch LLC, enters the…
10/13/2022 -
Why Bitcoin Is a Better Risk Bet Than a Stack of Penny Stocks
Bitcoin is getting boring at a time when annualized 30-day volatility as of Thursday’s close has seen a sharp downward dip, in a March with its own type of (weather) volatility. Source: CoinDesk Bitcoin Price Index To emphasize the point, have a look at the chart above, which shows the volatility of bitcoin daily returns for the past month. To be fair, I’m employing a little chart crime here, starting the y axis at 40% in order to accentuate the drop between March 24-25, as all but the last days of February have…
03/26/2021 -
Duke University’s Early Coinbase Investment Could Now Be Worth $500M: Sources
The endowment fund of Duke University, the alma mater of Coinbase co-founder Fred Ehrsam, was one of the fortunate few to have made an early investment in the soon-to-list cryptocurrency exchange, CoinDesk has learned. Two people familiar with the matter said the $3.9 billion Duke Endowment was included early on in the cap table of Coinbase, which is expected to command a price tag of around $100 billion when its shares debut on Nasdaq. Those shares are now worth a small fortune, on the order of nine figures, the sources…
Digital Currency 03/26/2021 -
The dark horse of decentralized lending is coming, HecoLend has a full analysis!
According to recent data from Coingecko, the total market value of DeFi is US$65,505,319,366, and the total lock-up volume is US$42,446,215,841. However, in this increasingly large DiFi ecosystem, as the underlying financial structure of DeFi, the lending business is usually ignored by many people, but in fact all financial portfolio products, derivatives, etc. are inseparable from the support of lending business. HecoLend, an open source currency market protocol, realizes asset financing based on the Huobi ecological chain technology and the relationship between capital supply and demand. Participants can conduct financial…
02/08/2021 -
What is the origin of the capitalist FTS that has set the NFT market alight?
The world’s progress is a process of subversion and re-subversion, innovation and re-innovation, however, every epoch-making technological revolution has fundamentally advanced the progress of human civilization,, with Bitcoin’s ten-year 26 million investment income, and created numerous wealth myths in just a few years, the emergence of Bitcoin has also made the decentralized distributed ledger blockchain technology popular worldwide , making Bitcoin gradually The fourth industrial revolution, with blockchain as its core, will bring unprecedented changes to humanity. NFT (TNon-Fungible Token), a digital cryptocurrency on the blockchain, is divided into…
05/04/2021 -
First Crypto Fraud Case in Australia Involving $800K in Stolen Assets Filed to Federal Court
An Australian cryptocurrency company is being sued in federal court for fraud in what is believed to be the first case of its kind in the country. According to a report by ABC News on Sunday, French national Alexandre Raffin, 28, has brought a compensation claim against crypto company Modern Assets Australia for an alleged breach in duty of care. Raffin claims Modern Assets and its directors, Jonathan Allison and Carlo Sciubba, failed in their obligation to him as an intermediary in facilitating an exchange of cash for a South Korean cryptocurrency…
03/30/2021 -
Bitcoin Transfer Worth $806M Might Reveal Big Institutional Purchase
Digital-asset traders and analysts were scrambling Tuesday to assess a fresh data point extracted from the Bitcoin blockchain: Some $806 million worth of the cryptocurrency apparently transferred earlier in the day off of the Coinbase exchange’s institution-focused unit, Coinbase Pro. The jury is out on what it means. It could be that a large investor or several just completed a fresh round of buying and now are taking the bounty off the exchange for long-term holding or other purposes. Or it might be something else more innocuous, such as an…
03/23/2021 -
NEWXX will jointly release NFT with a well-known design DAO.Contribute to the ecologically sound development
According to the official news, NEWXX Foundation will jointly issue NFT with famous design DAO in limited quantity, and users who get NXX-NFT can collect, auction or pledge NFT to get more NXX revenue. NEWXX Foundation and its partners around the world have been adhering to the core values of value investment and long-term and robust development strategy. In the period of crypto asset downturn and turbulence, the platform operates a robust and unique non-loss mining mechanism through its core technology to empower more users to maintain their mainstream crypto…
07/05/2022 -
The world premiere of FIL II is bound to be a rising star
With the rapid development of 5G, Internet of Things, and artificial intelligence, it is estimated that by 2023, about 40% of storage systems will be distributed storage architectures. Although the realization process of large-scale applications continues, the potential advantages of distributed storage accelerate the transformation of the new data era. FIL II is a distributed file storage network based on blockchain technology, a network transmission protocol for distributed data storage and shared files. FILII is the only incentive layer for FIL II, a decentralized distributed storage network….
Digital Currency 02/04/2021