SafeMoon

Despite its popularity, scam allegations surrounding SafeMoon continue to haunt its performance.

SafeMoon Price Prediction 2025-2030: Ghosts of the past haunts SFM

SFM has been an anomaly over the past week. It hiked and hiked, before falling back down again.

SafeMoon (SFM) Price Prediction 2025-2030: SFM’s ascent will depend on…


                    
                    Memes come and go, but greed, harassment and “community” are stalwarts of the crypto industry. 
                    Death threats, viral rap videos and a stream of frog-themed insults. That’s the state of my social media profiles after hosting a Twitter Space on May 8 about PEPE, the new token based on the “Pepe” meme.Poignantly hosted during a monumental PEPE price crash, Cointelegraph set out in the May 8 Twitter Space to understand the token. Why had it surged so quickly? What separates PEPE from the thousands of other memecoins and dozens of other PEPE tokens? And what’s the duration of these token projects?The backlash was "ribbiting.""It's all goin' to zero"  $PEPE ADVICE SOUND UP  pic.twitter.com/K8Uw1KvnSs— OLLIESBLOG ⚡ (@olliesblog) May 9, 2023

Though we endeavored to talk about PEPE’s popularity, I ended up enduring rather grim — if predictable — personal outcomes. I’ve been memed into myriad amphibian images, someone painted a Microsoft Paint Pepe portrait of me, I feature in a rap song, I’ve received over 100 written insults in my Twitter DMs, and I’ve been photoshopped into weird and wonderful frog poses.On top of that, one of the speakers on the Twitter Space, Irina Heaver — a lawyer based in Dubai — has received personalized death threats. (She’s OK, by the way.)So, what on earth is going on? How is a token that’s barely one month old generating such high levels of harassment, toxic behavior and diehard commitment?Every frog has its dayThe PEPE token hopped over a $1 billion market cap this week. The milestone meant that a meme token that is “completely useless” — according to the PEPE website — now exceeds the gross domestic product of some countries.Kudos to PEPE. It has shown us that even the most unassuming of memes (with a somewhat checkered past) can transform into billion-dollar success stories. It’s an amphibious achievement that has presumably left the somewhat “traditional” cryptocurrencies green with envy. Related: Brian Armstrong promised me $100 in Bitcoin — so where is it?As the latest ERC-20 token to amass a significant social media presence, PEPE proponents project a peaceful and “happy” community that protests against crypto venture capitalists. The project’s Telegram group includes more than 43,000 members, a fraction of the more than 100,000 PEPE hodlers. The idea behind the group is to be “positive” and “happy,” and to “onboard new people into the [crypto] industry.”Memes and fun internet culture aside, the PEPE community has also threatened to “end my career,” making death threats and creating viral EDM and rap videos of my panelists and me.OK, i'm now curating my favourite insults from the $pepe community as there are just too many. These are  pic.twitter.com/UbuINDPZ5H— Joe Nakamoto (@JoeNakamoto) May 8, 2023

Heaver, who joined the Twitter Space halfway through, has received death threats from the community. During the Space, Heaver, tongue in cheek, said, “I am legally predicting it will go to zero.” The PEPE community did not see the irony in her prediction. They subsequently took to doxing info related to Heaver and her credentials, peppering her profile with hate mail and imagery.Asked to comment for this column in the aftermath of the event, Heaver told Cointelegraph: “I refuse to comment since my family members are being threatened, and I refuse to engage in such antics.”Bleak, but so what? This is crypto. Cointelegraph and Heaver were “fudding” PEPE. It serves us right for repeating that the meme token has no purpose except entertainment. Plus, PEPE is not the first challenging crypto community — nor will it be the last. I’ve had my fair share of “fun” with the Cardano community, and I’ve had a few scrapes with the toxic Bitcoin (BTC) maximalists, a subset of the broader Bitcoin community. They employ acronyms such as GFY (go fuck yourself) and HFSP (have fun staying poor) at leisure. According to a Reddit discussion, certain members of the SafeMoon crypto community are still the most toxic of all time. It plays out “like a soap opera” or a “warzone.” That token is down 99% from its all-time high.Incidentally, the PEPE token crypto community was kicked out of the original Pepe Reddit community, right after the Reddit mods removed the subreddits’ question, “Do you know why they buy useless tokens?” Henceforth, the PEPE token crypto community is now separated from the Reddit Pepe community.Could Pepe croak the Doge? Could it leapfrog the Shib?Meme tokens are tokens and sometimes even cryptocurrencies derived from internet memes or culture, made for the sole purpose of profit and entertainment. Dogecoin (DOGE) was the first and most recognizable of the lot — created on a whim in 2013. Dogecoin was a fork of LuckyCoin (LKY), which in turn was a fork of Litecoin (LTC), which was itself forked from Bitcoin.There have been thousands of meme tokens since Dogecoin. Shiba Inu (SHIB) at one point surpassed Dogecoin in market cap, a huge victory for the dog token that missed out on the first-woofer advantage.PEPE believers reckon the dogs have had their day; PEPE now rules the swamp. If PEPE does a 5x, it will surpass Shiba; a 10x puts it ahead of Dogecoin. Could that happen?Well, much like the other meme tokens that have done well, PEPE benefits from:Unit bias — i.e., you can buy thousands of PEPE tokens for a few dollars, so buyers feel “rich.”A fun but evidently toxic community backed by a popular internet-native meme.Influencer participation and encouragement (although the PEPE community asserts that influencers are not involved). A desire to fight back and stick it to the man! The overriding sentiment during the Twitter Space was that PEPE holders want to fight back against the VCs. It’s a shame GameStop was not able to trademark that narrative!On the other hand, I’m still working to discern what elevates PEPE above other meme tokens. I asked that question a couple of times during the Twitter Space. The answers harked back to the “community” and “fighting back” against the VCs. Several speakers insisted that there was no VC involvement during the token launch, but we’ve seen this with every meme mania. The Ethereum contract states: “Pepe is a community based memecoin with one mission: to make memecoins great again.” However, in the PEPE Telegram group and on the website, the community regularly dunks on the dog tokens. I guess that, in a way, that’s a unique feature.Related: Most blockchain advocates haven‘t even used BitcoinPersonally, what I like about the token is that it doesn’t even pretend to be a cryptocurrency.It has no blockchain, roadmap, utility or purpose — except entertainment. There are no plans to make it “useful” either. Technically, it’s not even a cryptocurrency, unlike DOGE, SHIB or the other wanna-be crypto dog tokens. And this might not be such a bad thing for the “crypto” industry. A move away from weak promises of decentralized finance yield projects, algorithmic stablecoins or the tokenization of real-world items and a shift toward good old-fashioned gambling — but with a cause — bizarrely feels more honest. It’s just that instead of buying casino chips, investors are buying into a toad-alitarian community hellbent on spamming social media in a desperate attempt to become king of the swamp.Would Pepe be proud?Joe Hall joined Cointelegraph as a reporter in 2021. He holds an MA in French and Spanish from the University of Edinburgh and a BA in economics from Sciences Po Lyon.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Pepe would be ashamed by PEPE investors


                    
                    After the explosion in popularity of the memecoin $PEPE, moderators on the original Pepe the Frog subreddit felt the pressure to lay down the law.
                    Moderators on Reddit began to take action on crypto-related Pepe the Frog hype flooding into the meme’s original subreddits after the explosion of the $PEPE memecoin.  On May 9, a moderator for the “r/pepethefrog” pinned a post in which they declared that all “cryptocurrency promotion and all similar schemes such as NFTs” will be banned from the subreddit. “This subreddit is for pepe the frog art to be shared and created and not for currency trading.”The moderator also said that several other moderators will be added as “they are needed,” followed by a call for additional moderators for those interested. Responses from members of subreddit were overwhelmingly in favor of the decision, with thanks being given to the moderators and others saying “finally.”Pepe meme art in the original subreddit after purging crypto-related accounts. Source: RedditSome Reddit users even created memes depicting the moderators to various versions of Pepe cleaning up messes in reference to the crypto content.  This decision from moderators seemed to have come after a rising number of complaints regarding crypto-related content populating the subreddit. Users were beginning to create angry threads directed at crypto users. Related: New crypto litigation tracker highlights 300 cases from SafeMoon to Pepe the FrogThe Pepe the Frog memecoin $PEPE hit the markets in late April, after which it experienced a 2000% price rally fueled by hype and frenzy. Nonetheless, the official website for the already existing Pepe brand posted a disclaimer saying its purely a meme coin with “no intrinsic value.” Since the coin’s all-time high on May 6, the token has fallen at least 42% in value. The token was listed by some of the crypto space’s most prominent cryptocurrency exchanges such as Binance and OKX. Prior to entering the crypto space as a memecoin persona, Pepe the Frog was created in 2005 by cartoonist Matt Furie. Since then, Pepe has exploded in popularity as an internet meme, along with being the face of various social movements around the world. Magazine: Justin Sun’s SUI-farming sins, PEPE’s wild run, 3AC’s oyster philosophy: Asia Express

Pepe sans crypto: Mods purge crypto from the original meme subreddit

The price of SFM has started becoming volatile, but investors still seem uncertain about investing in it.

SafeMoon (SFM) Price Prediction 2025-2030: What’s hindering SFM’s ascent

SafeMoon V2, which showed immense promise at the peak of 2021 bull run, has been going downhill in price and valuation with no end in sight to its woes.

SafeMoon V2’s [SFM] gloomy outlook darkens, will there be a turnaround?

As SFM continues to remain volatile, will it be able to stay true to its promise of being a safe long-term investment?

SafeMoon (SFM) Price Prediction 2025-2030: SFM continues losing investor confidence


                    
                    Steven Walbroehl, a former bounty hunter, said that companies would sometimes downplay bug discoveries and not pay bounties, claiming that the bugs were not critical. 
                    Hacks remain common in the crypto space, with over $320 million in digital assets lost in the first quarter of 2023. However, recent hacks proved that some exploiters are willing to return assets in exchange for a prize, a process that some describe as a bug bounty program with a criminal twist. In April alone, at least three incidents of hackers returning exploited funds were witnessed in the decentralized finance (DeFi) space. On April 4, the Euler Finance team was able to recover $176.4 million after offering the hacker 10% of the stolen funds. Similarly, lending protocol Sentiment was also able to recover almost a million dollars in stolen funds after negotiating with the hacker. More recently, the attacker who was able to take $8.9 million from the DeFi protocol SafeMoon agreed to return 80% of the funds. Community member commenting on the recent hacks. Source: TwitterWhile the recent hacks could’ve been avoided through safe and profitable bug bounty programs, it may be a result of bounty offers not being worth it from the perspective of a white hat or ethical hacker.Steven Walbroehl, the co-founder of security firm Halborn, said that it's very common for companies to refuse to pay out bug bounties and not take vulnerabilities reported very seriously. As a former bounty hunter, Walbroehl said that some bounty programs have sometimes left him "feeling cheated" out of his time. He explained that: “Putting yourself in the shoes of a researcher, if you find an exploit that can create millions of dollars in stolen funds, but the developer is only offering a $5,000 reward, it can create a disproportionate amount of incentive to not take the bounty.”Walbroehl also said that companies would often downplay the discoveries, saying that the bugs are not critical. Reporting bugs also sometimes leads to companies not paying up, claiming that their team has already located the bug by themselves according to Walbroehl. Related: Hacker mints 1 quadrillion yUSDT after exploiting old Yearn.finance contractSimon Zhu, the senior product director at blockchain security firm CertiK, said platforms really need to create programs that are safe and profitable for developers. While having funds returned is a win, Zhu told Cointelegraph that this would not be a welcome trend as in this scenario, attackers are essentially holding the funds hostage. Zhu explained that: “White hat bug bounty programs are clearly preferable here. Platforms that do not offer a bug bounty program allowing for the safe and profitable disclosure of vulnerabilities may find themselves paying a much higher price.”In addition, Zhu also urged projects to change their line of thinking when it comes to vulnerabilities. According to the cybersecurity executive, some developer teams tend to ignore minor bugs when the costs of fixing the bug are high or when the smart contract becomes more complex to modify after the bug gets fixed. However, the CertiK executive highlighted that in Web3, a minor vulnerability can become a major one overnight. “Playing chicken with user deposits is not a responsible long-term approach to security,” Zhu added. Magazine: US enforcement agencies are turning up the heat on crypto-related crime

Hack negotiations: Why do platforms with ineffective bounty programs pay a higher price


                    
                    Elon Musk suggests suing Microsoft, congressman plans bill to remove Gary Gensler, and Societe Generale launches euro-pegged stablecoin.
                    Top Stories This WeekElon Musk threatens Microsoft with lawsuit, claims AI trained on Twitter dataMicrosoft has been threatened with a lawsuit from Twitter CEO Elon Musk, who claimed the Big Tech firm illegally trained its artificial intelligence on Twitter data. The entrepreneur suggested that Microsoft mined user tweets to train its AI-powered applications. Musk tweeted that it was lawsuit time after reports that Microsoft would cease supporting Twitter across its online social advertising tools. Musk and Microsoft are believed to be at odds over artificial intelligence. The tech billionaire is developing a ChatGPT rival known as TruthGPT. Microsoft owns a 49% stake in OpenAI, the company behind ChatGPT.Rep. Davidson to introduce legislation to fire SEC boss Gensler for crypto overreachU.S. Representative Warren Davidson announced plans to introduce legislation to fire Securities and Exchange Commission Chair Gary Gensler. According to the lawmaker, the upcoming bill is meant to “correct a long series of abuses.” Davidson disclosed the plan after the SEC’s latest attempt to revisit the definition of “exchange.” The week wasn’t the best for Gensler. During an oversight hearing, Gensler was heavily criticized for his approach on crypto assets.Australia installs more Bitcoin ATMs than whole of AsiaAustralia surpassed the continent of Asia in terms of the total number of crypto ATMs installed. Since the beginning of 2023, the country has been on a crypto ATM installation spree, climbing from fifth to third position in the rank in January alone. Data from Coin ATM Radar confirms that Australia has kept up the effort to install avenues for fiat-to-crypto conversions, reaching 364 crypto ATMs across the country, behind the United States and Canada.      Read also                                                                              Features                            The Vitalik I know: Dmitry Buterin                                                                                                                    Features                            Bitcoin payday? Crypto to revolutionize job wages… or not                                            Societe Generale subsidiary launches euro-pegged stablecoin on EthereumSociete Generale-Forge, a regulated subsidiary of French banking firm Societe Generale, has launched a euro-pegged stablecoin for qualified institutional clients. Dubbed EUR CoinVertible, the stablecoin was designed in response to the growing demand for a new settlement asset for on-chain transactions, said Societe Generale-Forge. The stablecoin will offer new solutions for corporate treasury; cash management and cash pooling; on-chain liquidity funding and refinancing solutions.Intel will stop manufacturing chips for Bitcoin minersIntel has reportedly announced plans to discontinue its line of Blockscale Bitcoin mining chips in an effort to reduce costs. The decision comes nearly one year after the company announced the hardware line. The chip-manufacturing company will stop taking orders for the Blockscale 1000 Series ASICs by October and is estimated to end shipping in April 2024. Mining firms Argo Blockchain, Block, Hive Blockchain Technologies and Griid Infrastructure were among the first companies to integrate the technology into their operations.Winners and LosersAt the end of the week, Bitcoin (BTC) is at $27,331, Ether (ETH) at $1,845 and XRP at $0.44. The total market cap is at $1.15 trillion, according to CoinMarketCap.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Casper (CSPR) at 3.51%, OKB (OKB) at 3.33% and UNUS SED LEO (LEO) at 2.06%.   The top three altcoin losers of the week are SingularityNET (AGIX) at -23.73%, Immutable (IMX) at -23.28% and Stacks (STX) at -22.94%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.      Read also                                                                              Features                            Can Crypto be Swedens Savior?                                                                                                                    Features                            Exoduses and Ex-Communications: Blowing Off Steemit with Andrew Levine                                            Most Memorable QuotationsCrypto is not a new financial product, but an evolution or fundamental change in the way individuals and organizations exchange value.Gabby Kusz, CEO of the Global Digital Asset & Cryptocurrency AssociationWhen I am asked to consult or advise for [stablecoin] projects […], my first advice has now become to avoid US operations and a US domicile. The jobs are going elsewhere.Austin Campbell, adjunct professor at the Columbia Business SchoolI think were at the end of the era where its going to be these, like, giant, giant models. Well make them better in other ways.Sam Altman, CEO of OpenAIIm going to start something which I call TruthGPT, or a maximum truth-seeking AI that tries to understand the nature of the universe.Elon Musk, tech entrepreneurI think were going to have to actually end up going to court [against the SEC] to get the clarity we need and create the case law.Brian Armstrong, CEO of CoinbaseTo correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides).Warren Davidson, United States representativePrediction of the Week Bitcoin pulls back from recent highs and loses supportBitcoin and a number of altcoins have fallen below their respective support levels, in a worrying sign that the bulls could be losing their grip. On April 21, Bitcoin and most major cryptocurrencies pulled back from their recent local highs, signaling profit-booking by traders.Bollinger Bands creator John Bollinger said in a recent tweet that Bitcoin had turned down from the upper Bollinger Band and reached the middle bank, near its breakout level. He said it was a logical place and advised traders to pay attention.The BTC/USDT pair may next slip to $26,500 and, thereafter, to the neckline of the inverse head-and-shoulders pattern at $25,250. If the price rebounds off $25,250, it will indicate that the neckline is acting as a higher floor, according to Cointelegraph’s price analysis.FUD of the Week MetaMask denies claims of wallet exploit in massive $10M hackMetaMask has denied claims that an exploit of its wallet is the cause of a massive wallet draining operation that claimed over $10.5 million in NFTs and coins since December 2022, including 5,000 Ether. According to MetaMask, the digital assets were stolen from various addresses across 11 blockchains. How the attack occurred is unclear. Experts speculate that there had been some sort of private key or seed phrase leak.Tornado Cash dev Alex Pertsev set to be released from prison under surveillanceAfter nearly nine months in prison, Tornado Cash developer Alex Pertsev will be released from jail. Dutch authorities arrested Pertsev in August last year on suspicion of money laundering through the crypto mixing service Tornado Cash. Pertsev should be back home by April 26, which also happens to be his birthday. His suspended release under surveillance means the developer can await trial from home.SafeMoon hacker agrees to return 80% of stolen funds, says development teamThe attacker who drained $8.9 million of Binance Coin from SafeMoon has agreed to return 80% of the funds. As per the agreement between the DeFi protocol and the hacker, the remaining 20% will be kept as a bounty. SafeMoon has further agreed not to file any legal actions against them, claiming the decision is in the best interest of SafeMoon and its community. Boosting bug bounties and paying them more diligently could motivate hackers to report bugs instead of exploit them, according to some Web3 developers.Best Cointelegraph FeaturesCrypto regulation: Does SEC Chair Gary Gensler have the final say?The chairman of the SEC recently said that almost all cryptocurrencies will be regulated as securities. Questions remain whether thats an accurate statement and if the agency is regulating tokens by enforcement.Heres how Ethereums ZK-rollups can become interoperableA single ZK-rollup cant scale Ethereum. But by working together in an interoperable ecosystem, ZK-rollups and ETH can take on the world.From SNL and The Tonight Show to Sothebys: NFT Creator Bryan BrinkmanBryan Brinkman took a journey from working on SNL and The Tonight Show to becoming a full-time NFT animation artist.    Subscribe    The most engaging reads in blockchain. Delivered once a        week.         Email addressSUBSCRIBE    

Musk hints at suing Microsoft, US Rep. wants Gensler fired, and more: Hodler’s Digest, April 16-22


                    
                    SafeMoon hacker said the exploit wasn't intentional plans to return majority of the exploited funds.
                    Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.This week in DeFi saw the hacker behind the $8.9 million SafeMoon exploit agree to return the majority of the stolen funds. According to the project’s developers, the hacker will return 80% while keeping the remaining 20%.United States crypto lender BlockFi was granted an additional 48-day extension to submit its exit plan by a New Jersey bankruptcy judge, exploring the potential sale of company assets and restructuring.Ether (ETH) price hit a new 11-month high even as post-Shapella withdrawals peaked at over 1 million ETH. Meanwhile, Ethereum gas fees touched new multimonth highs owing to a fresh memecoin frenzy. The heavy traffic on the network allowed a maximal extractable value (MEV) bot to make millions in sandwich exploits.The top 100 DeFi tokens broke out of a two-week bullish streak that began in anticipation of Ethereum’s Shapella upgrade, with most of said tokens trading in the red on the weekly charts.SafeMoon hacker agrees to return 80% of stolen funds, says the development teamThe attacker who drained $8.9 million worth of BNB (BNB) from SafeMoon has agreed to return 80% of the funds, according to an April 18 blockchain message from the SafeMoon team.The encoded message was the latest in a series of communications between the SafeMoon team and the attacker as the parties attempted to settle.Continue readingCrypto lender BlockFi is granted extra time to file Chapter 11 exit planBlockFi, a lender of digital assets, was given additional time to submit a bankruptcy exit plan by a New Jersey bankruptcy judge in the United States on April 19.The cryptocurrency lender filed for bankruptcy in November 2022 and has been reportedly granted a 48-day extension until May 15 to file an exit plan. The crypto firm is exploring a potential sale of company assets or the possibility of getting an outside backer to support a restructuring deal, BlockFi lawyer Joshua Sussberg said in a hearing on April 19.Continue readingEther hits 11-month high as post-Shapella withdrawals pass 1 million ETHOver 1 million ETH, worth $2.1 billion, was withdrawn from Ethereum’s Beacon Chain within the first four days of the Shapella hard fork, with Ether reaching over $2,100 for the first time in 11 months.The 1.03 million ETH withdrawn came from 473,700 withdrawal requests, with April 15 representing the largest withdrawal day at 392,800 ETH, according to data from the Beacon Chain.Continue readingSubway-themed trading bot makes millions using “sandwich” attacksAn anonymous MEV bot operator cashed in well over $1 million this week by executing “sandwich attacks” against buyers and sellers of two new memecoins.The wallet address, linked to the Ethereum Name Service domain “jaredfromsubway.eth,” made $950,000 from the sandwich attacks on April 18 and profited about $300,000 and $400,000 on April 17 and 19, respectively, according to an April 19 tweet from nonfungible token data platform Sealaunch.Continue readingDeFi market overviewDeFi’s total market value plunged by $4 billion this past week. Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bearish week, with most trading in the red. The total value locked in DeFi protocols fell below $50 billion.Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

SafeMoon hacker agrees to return 80% of stolen funds: Finance Redefined

SFM isn't doing well and its community isn't happy. Is there more bearishness to come?

SafeMoon (SFM) Price Prediction 2025-2030: Why SFM is still struggling post-exploit

As per the recent development, the hacker behind the SafeMoon exploit has agreed to return 80% of the stolen funds. The SafeMoon team announced on Twitter that it has reached an agreement with the party that held the funds. Similarly, the firm agreed to accept the return of 80% of its funds, whereas the remaining ... Read more

SafeMoon Hacker Agrees to Return 80% of Stolen Funds


                    
                    MetaMask stated its security team is working with others in the Web3 wallet space to uncover the source of this exploit.
                    Cryptocurrency wallet provider MetaMask has denied claims that an exploit of its wallet is the cause of a “massive wallet draining operation" that has claimed over 5,000 Ether (ETH).On April 18, MetaMask tweeted in response to a series of tweets posted on April 17 by Taylor Monahan, the founder of Ethereum wallet manager MyCrypto, who explained an unidentified wallet-draining exploit has stolen over $10.5 million in crypto and nonfungible tokens (NFTs) since December 2022.“Recent reporting on [Monahan’s] thread has incorrectly claimed that a massive wallet-draining operation is a result of a MetaMask exploit,” MetaMask said.Recent reporting on @tayvano_’s thread has incorrectly claimed that a massive wallet draining operation is a result of a MetaMask exploit. This is incorrect. This is not a MetaMask-specific exploit. https://t.co/MiJ3QgslMy— MetaMask  (@MetaMask) April 18, 2023

“This is incorrect. This is not a MetaMask-specific exploit,” it added.The wallet provider said the 5,000 ETH was stolen “from various addresses across 11 blockchains,” again reaffirming the claim that funds were hacked from MetaMask “is incorrect.”Speaking to Cointelegraph, Ohm Shah the co-founder of Wallet Guard said the MetaMask team has been “researching tirelessly” and there is “no solid answer to how this has happened.”“There are tons of independent security researchers also investigating this,” Shah said.He speculated it was possible to assume that there had been “some sort of Private Key or Seed Phrase Leak.”In its latest series of tweets, MetaMask confirmed its security team was researching the source of the exploit and was “working with others across the Web3 wallet space”Related: SafeMoon hacker agrees to return 80% of stolen funds, says development teamIn her thread on the exploit, Monahan stated that “no one knows how” this massive attack was conducted but her “best guess” was that a significant amount of old data was obtained and used it to extract the funds.She also originally claimed the attacker was draining long-time MetaMask users and employees by using MetaMask.Monahan later stated the exploit is not MetaMask-specific and “users of all wallets, even those created on a hardware wallet” have been impacted by the exploit.Magazine: Should crypto projects ever negotiate with hackers? Probably

MetaMask denies claims of wallet exploit in 'massive' $10M hack


                    
                    The attacker will be allowed to keep the remaining 20% of exploited crypto, according to SafeMoon developers. 
                    The attacker who drained $8.9 million of Binance Coin (BNB) from SafeMoon has agreed to return 80% of the funds, according to an April 18 blockchain message from the SafeMoon team.Breaking News: #SafeMoon has struck a deal with the “hacker”80% LP return imminent. 20% bounty for “hacker”And no charges pressedNow, back to your regularly scheduled program.  pic.twitter.com/x94fSb4EoP— SafeMoonSpidey.sfm ⎷ (@SafeMoonSpidey) April 18, 2023

SafeMoon is a decentralized finance (DeFi) protocol that runs on BNB Chain. It was hacked on March 28, resulting in a loss of 27,000 BNB worth $8.9 million at the time.On April 18, at 1:19 p.m. UTC, the SafeMoon Deployer account posted a transaction to the BNB network with the attacker’s address as the recipient. The transaction contained a coded message in 8-bit Unicode Transformation Format (UTF-8) that stated the following:“SafeMoon has reached an agreement with the party currently holding the funds. Specifically, SafeMoon has agreed to accept 80 percent of the amount returned, with the other party retaining the balance as a bounty. SafeMoon has further agreed not to file any legal actions against them. After careful consideration of the circumstances, it is believed this is in the best interest of SafeMoon and the community.”The coded message is the latest in a series of communications between the SafeMoon team and the attacker as the parties attempted to settle. On March 29, the attacker claimed they had drained the funds accidentally.The team responded on the same day, asking the attacker to offer a Telegram handle where they could be contacted. The attacker did not provide a Telegram handle but did provide an anonymous Outlook email address instead. The team then stated, “Email message sent. 12:33 UTC.”There was no further blockchain communication between the two sides until the April 18 message confirming that the agreement had been made.Hacking DeFI protocols and negotiating to keep some funds has become common recently. On April 4, the Euler Finance attacker, who had previously drained over $196 million from Euler, issued an apology message and returned nearly all of the funds gained from the attack. On April 6, the exploiter who had drained $967,000 of crypto from Sentiment returned nearly 90% of it after the team agreed to let them keep the remaining amount.Some Web3 developers have argued that bug bounties should be larger and development teams should be more diligent about paying them, as they allege this could motivate hackers to report bugs instead of exploiting them.




SafeMoon hacker agrees to return 80% of stolen funds, says development team

A hacker who exploited a bug in SafeMoon’s smart contract and drained $8.9 million from its liquidity pool has agreed to return 80% of the stolen funds.

SafeMoon hacker to return 80% of stolen funds

Exploits aren't new. They are as old as the crypto-ecosystem itself. However, SafeMoon was particularly affected by the latest incident.

SafeMoon (SFM) Price Prediction 2025-2030: Is SFM finally past the exploit’s shadow?

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.   When SafeMoon upgraded its smart contracts, an exploiter was waiting and watching. As soon as the upgrade was complete, the exploiter detected and exploited a bug in […]

SafeMoon (SFM) Price Prediction 2025-2030: Is recovery in tow after exploit?

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject. As soon as SafeMoon upgraded its smart contracts, an exploiter detected and exploited a bug in the code that led to the loss of $8.9 million from the […]

SafeMoon (SFM) Price Prediction 2025-2030: Exploit causes chaos, SFM suffers


                    
                    FTX Europe opens withdrawal for European customers, a petition seeks to halt AI development, and Binance is sued by U.S. authorities.
                    Top Stories This WeekFTX EU launches withdrawal website to pay back European usersThe European arm of FTX has launched a website to allow customers in Europe to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges, including accusations of bribery in China. On bail since being turned over to U.S. custody from the Bahamas, Bankman-Fried is now prohibited from using any smartphone with internet access as part of a new court agreement.Elon Musk-led petition to halt AI development divides tech communityTesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers calling for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society and mankind. It urged all AI firms to immediately cease developing AI systems that are more potent than GPT-4 for at least six months. Although supported by many, the petition has divided the larger tech community over the halt of developments.Binance and CZ sued by CFTC over US regulatory violationsA lawsuit has been filed by the U.S. Commodity Futures Trading Commission against Binance and its CEO, Changpeng CZ Zhao. Claims against the crypto exchange include failing to register with regulators, noncompliant trading, obscuring the location of its executive offices, and performing transactions for persons in the United States since 2019, despite a policy of blocking or restricting customers in the country. Binances CEO has rejected the allegations, arguing that the crypto exchange does not trade for profit or manipulate the market under any circumstances, but primarily to cover expenses in fiat or other cryptocurrencies using its crypto revenue.       Read also                                                                              Features                            You Say You Want a Revolution: What Blockchain Can Learn from One Mans Attempt to Save the World                                                                                                                    Features                            Banking The Unbanked? How I Taught A Total Stranger In Kenya About Bitcoin                                            US and South Korea requested extradition of Terra co-founder Do KwonAuthorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited following his arrest in Montenegro. According to Montenegrin Justice Minister Marko Kova, decisions regarding Kwons custody will go to Montenegros high court and will rely on a number of factors, including the severity, location and time of his alleged criminal offenses. During his custody in Montenegro, Kwon may face harsh conditions in the countrys penal system since jail conditions havent changed from those described in a 2020 human rights report by the U.S. State Department.Withdrawals are coming!  Ethereum devs confirm epoch for Shapella forkEthereum core developers shared more details on the highly anticipated Shapella hard fork, which will allow validators to withdraw staked Ether from Beacon Chain. Shapella will take effect at epoch 194,048, which is scheduled for 10:27 pm UTC on April 12. Withdrawals will be enabled by Ethereum Improvement Proposal (EIP) 4895 by pushing staked Ether from the Beacon Chain to the execution layer. There are 17.81 million Ether staked on the Beacon Chain, with several mechanisms set to ensure a flood of Ether doesnt disrupt the market.Winners and LosersAt the end of the week, Bitcoin (BTC) is at $28,358, Ether (ETH) at $1,821 and XRP at $0.53. The total market cap is at $1.18 trillion, according to CoinMarketCap.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are XRP (XRP) at 25.40%, Stellar (XLM) at 25.12%, and Conflux (CFX) at 22.77%.The top three altcoin losers of the week are SingularityNET (AGIX) at -12.85%, Stacks (STX) at -10.19%, and Mina (MINA) at -7.20%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.      Read also                                                                              Features                            Rogue states dodge economic sanctions, but is crypto in the wrong?                                                                                                                    Features                            South Koreas unique and amazing crypto universe                                            Most Memorable QuotationsWhen I think about AI, it shocks me that were talking so much about crypto regulation and nothing about AI regulation. I mean, I think the governments got it completely upside-down.Mike Novogratz, CEO of Galaxy DigitalI believe that NFTs can contribute to preserving Indonesias cultural heritage while enhancing virtual tourism.Muhammad Neil El Himam, deputy chairman at the Ministry of Tourism and Creative Economy of IndonesiaAdvanced AI could represent a profound change in the history of life on Earth, and should be planned for and managed with commensurate care and resources.Future of Life InstituteAs recent global financial events continue to unfold, many may also re-evaluate their dependence on traditional financial institutions […] and turn to alternative assets such as Bitcoin.Lasanka Perera, CEO of Independent Reserve Singapore[DeFi] KYC is about transparency and accountability. I dont think its an issue for a majority of people. Im sure 99% of people dont have things to hide.Dyma Budorin, CEO of HackenDont ever let fear stop progress, and be wary of anyone trying to capture control in some central authority.Brian Armstrong, CEO of CoinbasePrediction of the Week Bitcoin price hits $28.5K on PCE data as macro accumulation zone endsBitcoin recovered recent losses following encouraging macroeconomic data from the United States, with the February Personal Consumption Expenditures (PCE) Index modestly beating expectations in some areas  a sign of progress against inflation.Moving to higher timeframes, optimism was no less in evidence among traders. Caleb Franzen, senior market analyst at Cubic Analytics, wrote on Twitter:Bitcoins 24-month Williams%R Oscillator is set to close above the oversold threshold for March, which has marked an end to prior bear markets. Bullish long-term probabilities are improving, so long as we stay above the lower-bound.FUD of the Week Italy blocks ChatGPT, investigates suspected violationsItalys watchdog in charge of protecting data has announced that its temporarily blocking the artificial intelligence chatbot ChatGPT and is opening an investigation over suspected breaches of data privacy rules, including a recent data breach that the AI platform suffered on March 20. The Italian agency highlighted several issues for the decision, such as the lack of information for users on OpenAI data collection and the absence of an age verification feature within the application to avoid minors. The agency further noted that the information provided by the AI chatbot is not always accurate and that inaccurate handling of personal data may occur.Mysterious entity may be collecting BTC users IP addresses  Bitcoin developerAn unknown person or group may be collecting IP addresses of Bitcoin users and linking them to their BTC addresses, compromising their privacy, according to pseudonymous Bitcoin app developer 0xB10C. The entity has been active since March 2018, and its IP addresses have shown up on several public posts from Bitcoin node operators over the past several years. In an interview with Cointelegraph, 0xB10C stated that the vulnerability doesnt just affect users who run their own nodes. Even users who rely on a third-party server through a wallet like Electrum or Mycelium can still be victims.Jake Paul-endorsed SafeMoon gets hacked after introducing a bug in upgradeSafeMoon, a project previously endorsed by celebrities and social influencers, such as Jake Paul and Soulja Boy, announced its liquidity pool (LP) had been compromised. Blockchain investigator PeckShield narrowed the problem to a recent public burn function introduced in the latest upgrade that allegedly allows users to burn tokens from other addresses. The attacker used the vulnerability to remove SafeMoon tokens, causing an artificial spike in the tokens price.Best Cointelegraph FeaturesWeb3 Gamer: Shrapnel wows at GDC, Undead Blocks hot take, Second TripCould the tide finally be turning as more Web2 gaming companies start to dabble in Web3?Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of FlameCrypto Wendy taught herself to trade crypto in 2017 as the perfect 24/7 job to fit in around the demands of raising her young daughter.The secret of pitching to male VCs: Female crypto founders blast offThere are plenty of structural issues holding back female founders in the male-dominated tech industry, but there are also benefits to being a woman in the space.    Subscribe    The most engaging reads in blockchain. Delivered once a        week.         Email addressSUBSCRIBE    

FTX EU opens withdrawal, Elon Musk calls for AI halt, and Binance news: Hodler’s Digest, March 26–April 1

An overview of the latest news for RIA, SFM and ALGO

Crypto market: focus on Calvaria (RIA), SafeMoon (SFM) and Algorand (ALGO)

SafeMoon (SFM) CEO John Karony has issued a statement following the exploit of the decentralized finance exchange. 
The post SafeMoon working to ‘rectify’ situation after $8M exploit, says CEO appeared first on CryptoSlate.