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sending 100s of ether (ETH, -2.51%) to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.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
-
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….
-
KHC — Redefining Finance
Looking back to 2020, traditional industries have been inflicted heavy losses and the development of global economy has come to a stalemate, even suffered a sharp recession by the pandemic. Therefore, as the representative of a favourable turn, the emergence of DeFi will inevitably become the new star to attract everyone’s attention. Decentralized Finance, DeFi, enables users to access financial services like debit and credit sides, trading and so on without relying on centralized entities such as banks and stock exchanges. DeFi is currently the fastest growing area in blockchain and cryptocurrency…
-
Will islandswap lead the future of gamefi on OEC?
With the rise of the metaverse concept, GameFi has become the most popular topic in the crypto circle. With more and more players and a continuous influx of capital, each token in blockchain games is also rising and constantly breaking the highest record. A large number of mainstream public chains, including OEC and Solana, have emerged in the market, providing more choices and a better environment for blockchain games. At present, several good GameFi&metaverse blockchain games have been planned to be on OEC, from Crypto Gladiator to Celestial, and then to…
-
Elon Musk’s Bitcoin Marketing Coup
Here’s some free advice for the Honda Motor Company: Market your cars to the newly bitcoin rich. I’ve already got the ad copy for you. A true bitcoiner is building for the future and deferring gratification. She doesn’t blow her hard-earned savings on flashy toys. She prefers a solid, dependable family car. And a slogan…. Lambos are for losers. HODLers drive Hondas. Marc Hochstein, CoinDesk’s executive editor, owns some bitcoin, and if he were smarter he’d have bought more years ago. This article is excerpted from The Node, CoinDesk’s daily roundup of the…
-
Major supporter of the world-class fighting championship, CoinW, witnessed the new champion of Kunlun Fight!
The Madinat Arena in Dubai was packed to the rafters at the night of June 25, 2022, as thousands of Kunlun Fight fans gathered to witness the most intense night of combat in the history of the Kunlun Fight. Sponsored by CoinW, the world’s leading cryptocurrency exchange, the Kunlun Fight & Chan FC World Fighting Championships, brought international fighters from France, Italy, Belarus, Turkey, Iran and many other countries to present a blood-curdling feast for the senses, to fight fans. The Fighting Championship CoinW witnessed the new champion of…
-
Ban, Minister Says
India’s Minister of State for Finance Anurag Thakur said the government needs to study national security risks posed by virtual currencies before making any decision on their legality. “We understand there is immense interest in these virtual currencies, but we also need to look at national security and security of Indians and individuals,” Thakur said while addressing an event organized by Entrepreneurs’ Organisation Punjab on Saturday. Thakur took a jab at the high price volatility of cryptocurrencies, saying that these coins often chart 10x price moves in weeks. “That doesn’t happen in…
-
Secure and encrypted decentralized chat software
Communication and interaction with people, and the construction of relationship with people. Communication interaction is communication, relationship construction is making friends, that is, people’s social needs are communication and making friends. Where there are people, there is social networking. According to statistics, there are 4.54 billion people in the world who can connect to the Internet. The coverage rate is 60%, and the number of people using social media reaches 3.8 billion, nearly half of the world’s population (calculated according to the total global population of 7.7 billion). In…
-
If you don’t want to miss out on Chia, then get on board with XC2 -and work to build consensus and value for Chia’s eco-development
2021was the year of the blockchain, with many coins surpassing theirall-time highs. In addition to the global economy and the impact ofthe epidemic, the bull market was fuelled thanks to the hot conceptsof Defi, NFT and Filecoin. Meanwhile Chia came out of nowhere andtook the blockchain scene by storm. Chiais a global open source decentralised network based on proof of timeand space, dedicated to creating a greener, more decentralised andsecure cryptocurrency. In Chia’s network there are no miners, nomining, but farms, farmers, seeding. By introducing a new consensusmechanism, Pos+Pot,…
-
Big news for the crypto trading space: CoinW announces all spot trading – free of charge
On July 13, 2022, CoinW made another major upgrade, announcing that all users of CoinW will not be charged transaction fees when trading in all spot currencies. Zero fees! This is another major breakthrough, after the official announcement on July 5 , by leading Crypto Exchange, that all BTC transactions, will be free of charge. This is not only the first platform in the network to adopt 0 transaction fee for spot trading, but also a long-awaited benefit for platform users. As we all know, exchanges can provide investors with…
-
Thales: We’re building a whole new economic system
Thales, the first lightweight, high-performance parallel chain in the Polka ecosystem, has received a $10 million investment from ZKfund, Holo Capital, and Digital Assets Investment, which will be used for the development of Thales’ economic system layer Hayek, DAO governance layer Plato, and storage network layer IPS (IPS-Thales). Introduction to Thales The Thales project is made up of Hayek, an economic system layer, Plato, a DAO governance layer, and IPS, a storage network layer (IPS-Thales). Although the consensus mechanism of Thales is NPOS, unlike Poca, Thales rewards not only…
