With incidents of hacking and billions of losses, market experts discussed the most current updates and the safety of users’ SOL accounts. Here are some insights on current market activity.
BTC experienced key resistance on price bands. BTC bulls lost over $23000 in value thanks to high whale activity. BTC prices have consolidated and were lower as of August 9th thanks to the familiar and persisting resistance. The question remains – when will BTC break out of this range and move higher to touch $30,000?
More institutions are buying ETH as the date for the Merge draws closer. This activity is due to higher clarity to do with the Merge and ETH products. Will the Merge result in price hikes for ETH?
Circle and other companies have blacklisted and blocked quite a few Tornado addresses. This information was put out by data aggregation company, Dune Analytics. This activity started since the issuance of sanctions by the Treasury Department. How can Tornado Cash dig itself out of this mess? Does it mean an end for the company?
Experts also addressed the issue of SOL safety after the latest hack. Why has the network been victimized so often by hackers and frequent downtimes? What do such exploits mean for SOL and should users worry about their investments and accounts?
Per reports, over $5 million in funds has been stolen. The hack is being investigated and it seems that this took place via the Slope wallet. It appears that some private information was sent by mistake to a monitoring service. Over 8000 wallets were drained of funds. More information will be released in the coming weeks.