Bittensor Blockchain Faces Attack on User Wallets

by Giorgi Kostiuk

2 years ago

Made with AI

Bittensor Blockchain Faces Attack on User Wallets

The Bittensor blockchain encountered a significant event with an assault on multiple user wallets. According to a statement from a community administrator within the Tao Community Discord, the TAO Foundation has initiated an investigation into the recent attacks on several Bittensor wallets.

As a precautionary measure, all on-chain transactions were swiftly suspended until further details about the attack could be gathered. Reports indicated that an amount exceeding $8 million worth of TAO tokens was illicitly withdrawn from one of the wallets.

A member of the Bittensor core team addressed the incident, commenting on the ongoing investigation. The team made a decision to halt all on-chain transactions temporarily to await additional information regarding the attack's specifics.

At the time of writing, the value of TAO had depreciated by 11.3% within the past 24 hours, with the cryptocurrency trading at $239.

Disclaimer: This article does not provide investment advice.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Trump Asserts US Dominance Over Strait of Hormuz Amid Tensions

US President Donald Trump claims total US control over the Strait of Hormuz amid tensions with Iran, despite a significant drop in maritime traffic.

Andrew Smith11 hours ago

Crypto Market Faces Layoffs and Shifts in Investment Trends

The crypto market is currently facing significant layoffs, with firms like Coinbase and FalconX reducing their workforce. Retail investors are increasingly shifting their focus from cryptocurrencies to sports betting platforms and AI stocks.

Zainab Kamara16 hours ago

Bitwise Asset Management Reduces Staff Amid Market Adjustments

Bitwise Asset Management has reduced its staff by approximately 14 employees, bringing its total workforce to about 155, while maintaining that it is still the largest in the company's history.

Jacob Williams16 hours ago

Arthur Hayes Outlines Yenquake Macro Thesis Impacting Bitcoin

Arthur Hayes proposes a macro thesis called 'Yenquake', suggesting that supporting the Japanese yen could inject dollar liquidity into global markets, potentially benefiting Bitcoin.

Son Min-ho17 hours ago

Jupiter Introduces Smart Debt Feature to Boost DeFi Efficiency

Jupiter has launched a new feature called Smart Debt through its Jupiter Lend platform, allowing users to deploy borrowed assets into DEX liquidity pools to earn trading fees.