Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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New UniBot contract exploited, UNIBOT token crashes

  • UniBot, a popular Telegram bot used for Uniswap trading, was exploited.
  • UNIBOT token price plummets.
  • User compensation has been promised.

UniBot, a popular Telegram bot used for sniping trades on Uniswap, has fallen victim to a significant exploit, causing a sharp decline in the value of the UNIBOT token.

Exploitation of UniBot’s new contract

In a surprising turn of events, UniBot, the widely used Telegram bot for decentralized exchange Uniswap trading, recently experienced a security breach.

The breach occurred in a newly deployed contract, resulting in the theft of approximately $560,000 worth of various meme coins from users. The company identified the issue as a “token approval exploit” originating from their new router, prompting them to temporarily pause the router to mitigate the situation.

Although investigations are still underway, blockchain security firm Scopescan advised affected users to revoke approvals for the exploited contract and transfer their funds to a more secure wallet.

Impact on UNIBOT token price

The repercussions of this breach have been swift and substantial. The UNIBOT token, which is closely tied to the UniBot ecosystem, saw an immediate 42.7% drop in its price within a single hour. It plummeted from $57.56 to $32.94, leaving investors and token holders concerned about their assets.

However, at the time of reporting, there were indications of a recovery in the token’s price, but the incident undeniably rattled the market.

Compensating affected users

UniBot responded to the situation by pledging to compensate users who suffered losses due to the contract exploit.

Cryptocurrencies such as JOE, UNIBOT, and BCAT were among the digital assets that were part of the loot. Notably, the hacker involved in the breach was observed converting the stolen meme coins into Ethereum (ETH), causing further concern among users.

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a16z targets $3.4B for next early and seed-stage funds: report

  • Andreessen Horowitz (a16z) is planning to raise $3.4 billion for its next early and seed-stage fund.
  • The fundraising is reportedly set to start by the end of year.

Andreessen Horowitz (a16z), a crypto-friendly venture capital firm based in Silicon Valley, is targeting approximately $3.4 billion for the next early-stage and seed-stage funds, according to Axios.

According to the report, the core fund will represent a slight increase for a16z when compared to previous efforts.

New growth, crypto and bio vehicles

Andreessen Horowitz is one of the bullish VCs on AI, an area that’s seeing a significant uptick in investments. But as artificial intelligence projects prove a big hit for VC fundraising, the broader landscape is seeing notable declines.

The fundraising that reportedly is marked to start towards the end of the year eyes “new growth, crypto and bio vehicles in 2025.” Per Axios, the VC giant “will ask, although not require, limited partners to invest via a new master vehicle that would feed into sub-funds (including some of its sector-specific vehicles).”

In May 2022, a16z announced a $4.5 billion fund that targeted projects in crypto and blockchain. Earlier this year, Andreessen Horowitz outlined its bullish outlook on generative AI, noting the industry’s massive potential and impact. 

That perspective adds to its footprint in the crypto space, with high profile investments including those in Coinbase, Dapper Labs, Avalanche and MakerDAO.

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Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved

  • Cosmos Hub announced on October 30 that proposal #835 seeking the transfer of 42.7 million tokens from Neutron DAO to Cosmos Hub community pool had passed.
  • The proposal authorises the transfer of 42,727,950 NTRN in airdrop tokens not claimed.

Cosmos (ATOM) has announced that the proposal to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN), has been approved.

The governance proposal #835 sought to authorise the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool.

Cosmos’ proposal and funds’ use

On October 30th, the Cosmos Hub revealed the governance vote had passed and the 42.7 million NTRN worth approximately $18,000,000 at the time of the proposal will now be moved to the community pool.

Included in proposal #835 were policy details that outlined the rules that applied to the transfer in relation to how the Cosmos ecosystem could utilise these funds. 

Approval and the subsequent transfer from the Neutron DAO was pegged on the understanding that the Cosmos community would adopt a policy that affects no harm to Neutron as a result of the funds’ use.

The other was that there would be mutual benefit, that the Cosmos network, its governance, and the community would ensure proper use of the funds for long-term benefit to both the Cosmos Hub ecosystem and Neutron.

Binance added NTRN to its Launchpool as the 38th token on October 10. The 20-day offering allowed users to farm NTRN tokens by staking their BNB, or stablecoins TUSD and FDUSD.

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Polkadot (DOT) surges 8% with staking dashboard upgrade

  • Polkadot’s price experiences an 8% increase.
  • The surge is bolstered by the introduction of the Staking Dashboard 1.1.
  • The upgrade allows users the ability to view the 14-day activity of validators on the Polkadot network.

Polkadot (DOT) has once again made headlines with its impressive price movement in the crypto market. At the time of writing, each DOT is priced at $4.34, reflecting a 3.23% increase in the past 24 hours.

This surge in DOT price is attributed to the recent deployment of Polkadot’s Staking Dashboard 1.1, designed to enhance the user experience within the Polkadot ecosystem.

Polkadot’s resurgence

Over the past week, Polkadot has been among the best performers in the top 20 cryptocurrency rankings by market capitalization, with an 8% price gain during this period. This positive momentum underscores Polkadot’s readiness to retest the resistance point at $5 in the near term.

The surge in Polkadot’s price is not merely coincidental. It is closely tied to the introduction of the Polkadot Staking Dashboard 1.1, a critical upgrade in the Polkadot ecosystem that provides users with improved insights into the network’s validator activities and performance.

The Polkadot Staking Dashboard 1.1

The Polkadot Staking Dashboard 1.1, unveiled by Ross Bulat, an engineer with Parity Technologies offers Polkadot Stakers a more intuitive reporting system, making it easier for users to understand ongoing activities within the ecosystem.

Among the features of this upgrade is the ability to view the 14-day activity of validators on the Polkadot network, along with their performance concerning the staker’s nominations. Light clients are now supported, and asynchronous synchronization is enabled, enhancing the overall user experience.

The dashboard also includes a ranking system that classifies validators based on their performance, allowing potential stakers to make informed decisions. To ensure maximum accuracy, the dashboard showcases the validator with the best performance by default.

This upgrade is designed to promote transparency and ease of use, ultimately encouraging greater participation in the Polkadot network and driving the recent surge in demand for DOT tokens. With high-profile partnerships and the increased accessibility provided by the Staking Dashboard 1.1, Polkadot appears poised for continued growth.

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Robert Kiyosaki picks gold and bitcoin over stocks and bonds

  • Robert Kiyosaki challenges the 60/40 investment strategy that has 60% stocks and 40% bonds.
  • He says a portfolio with 75% gold, silver Bitcoin mixed 25% real estate/oil is better.
  • Investors might want to shift if they want to survive an imminent economic crash of historic proportions.

Robert Kiyosaki, a renowned author and entrepreneur, says the current market is not one where the traditional 60/40 investment advice works. 

Financial experts have for ages talked about having 60% of one’s portfolio in stocks and 40% in bonds. But according to Rich Dad Poor Dad author, those who take this approach to portfolio allocation are “the biggest of losers.”

Gold, silver and Bitcoin

Rather than the 60/40 strategy, Kiyosaki suggests putting 75% of the investment in gold, silver and Bitcoin, and 25% in real estate or oil. Such a portfolio might survive a global crash.

 “Forever and ever financial experts have promoted the idea “Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investors will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks. This mix may allow you to survive the greatest crash in world history,” he said in an October 29 post on X.

In another post last week, Kiyosaki noted that his first gold coin cost him $40 – today it’s worth $2,000. Rather than wanting to be like the Oracle of Omaha Warren Buffett, he opined that “Dollar Cost Averaging” was what average investors should go for when looking to accumulate assets.

The investor’s latest take on investing comes as the Bitcoin price hovered above $34,000. The benchmark crypto asset is forecast to embark on a new bull market that could take its price to highs of $125k in 2024.

Currently, bulls are looking to retest resistance above $35k, with analysts saying investors could be watching for volatility amid an upcoming Fed meeting and the unfolding geo-political landscape.

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