July 3, 2024 | Bittensor's on-chain wallet hacked, Ethereum Foundation emails stolen, what happened in the last 12 hours?

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As the Ethereum spot ETF gets closer to listing, the market is facing more uncertainty. Traders seem to have differing views on whether ETH will rise or fall next. As more and more latest information about the Ethereum spot ETF is announced, we can only wait until it actually launches to know where the market will go. Additionally, at least two cyber attacks occurred last night, Bittensor's on-chain wallet was stolen, and Ethereum Foundation emails were stolen. The specific amount of damage is still unknown.
Let's take a look back at what happened last night:

1) Bittensor's (TAO) on-chain wallet was stolen, causing TAO to plummet

Concept currency : $TAO (-15%)

On July 3, the on-chain wallet of Bittensor (TAO) was hacked, causing the value of TAO represented to plummet by 15%. Bittensor officially responded to the wallet attack, "We are investigating and have taken great care to completely halt on chain transactions until we have more information about the nature of this attack." "The chain is currently in safe mode for at least 24 hours. All transactions (including transfers) have been suspended while we investigate the root cause of this attack. We will not release any software updates to Bittensor or any chain updates on mainnet or testnet until we fully restore the chain online."

2) Ethereum Foundation emails were stolen and LDO was implicated?

Concept coin: $LDO (-5%)

According to the latest post on the Ethereum Foundation's official blog, their email account was hacked and phishing emails were sent to 35,794 people. This email falsely claims that the Foundation is partnering with LidoDAO to offer 6.8% Ethereum Staking returns. If the user clicks on the link in the email and approves the transaction, their wallet will be drained. Foundation quickly blocks the delivery of malicious emails, closing attack paths and ensuring that hackers cannot access emails. The investigation found that hackers obtained 81 new email addresses in this attack, but no victims lost any money.

Perhaps influenced by this news, LDO fell sharply today, now down 5%, to below $1.90.


3) Blast announces point distribution details for the second phase of the Airdrop, and will distribute 10 billion BLAST

Concept coin: $BLAST (-11.1%)

On July 3, L2 Blast solution published a document detailing the point distribution for the second phase of the Airdrop. In the second phase, Blast will distribute 10 billion BLAST Airdrop , of which 50% will be allocated to regular points (Points). Users can earn Points by holding ETH, WETH, USDB and BLAST, and the Points accumulation rate of each asset is the same; 50% will be allocated to gold points. Dapps can earn Gold (and then redistribute it to users) based on their overall traction on the Blast mainnet and in future Big Bang competitions. Gold will be distributed the first week of each month, and the first phase will be announced on July 8.

Additionally, users who have installed the Blast app will receive a "Golden Ticket" based on their ETH, WETH, USDB and BLAST balances. Golden Ticket gives users the opportunity to earn more Points and Gold.

The mechanisms that existed in the first phase, such as Jackpot, point multiplication, and invitation point return, will continue to exist, but invitations in the second phase will be counted independently.

In response to this news, the BLAST Token price has dropped more than 11% and is currently at around $0.019.


4) ZKsync announces the launch of Elastic Chain

Concept coin: $ZK (+3%)

On the evening of July 2, ZKsync officially announced the launch of the Upgrade History Chain , local interoperability achieved through an intuitive user experience, and its elastic architecture allows the blockchain to scale unlimited capacity by adding new instances to meet capacity usage.

Perhaps influenced by this news, the $ZK Token bucked the trend to increase by more than 3%, once exceeding $0.19 USD.

5) Latest developments Ethereum ETF spot

Conceptual currency: $ETH(-0.83%)

Industry insider: Ethereum ETF spot will still start trading at the end of July

Crypto industry insider AP Abacus posted on platform X that according to sources from several Ethereum (spot) ETF issuers, the S-1 approval date (when trading will begin) is still at the end July. There could be two more rounds of S-1 adjustments; Compared to the BTC ETF, the before and after process is described as "slow".


Chairman of The ETF Store: Ethereum ETF spot could be launched on July 15

Nate Geraci, president of The ETF Store, posted on platform The final S-1 could be filed by July 12. In theory, this means the relevant ETF should be launched within the week, on July 15.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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