Security Breach in Altcoin Leads to Significant Price Fall

The Bittensor blockchain has recently been targeted in a hacking incident that resulted in a significant drop in price. The TAO Foundation, which oversees the Bittensor network, is currently investigating the attack on multiple user wallets. As a precautionary measure, on-chain transactions have been temporarily suspended until more information about the attack is obtained. It has been reported that TAO tokens worth at least $8 million were stolen from one of the wallets. In response to the incident, a member of the Bittensor core team stated, “We are actively investigating the attack and have suspended on-chain transactions until we gather more details about its nature.” As a result of this incident, the value of TAO has decreased by 11.3% in the last 24 hours, and it is currently being traded at $239. Please note that this article does not provide investment advice. If you are interested in investing in cryptocurrencies, you can register with Binance exchange using this link to receive a 20% commission discount. For exclusive news, analytics, and on-chain data, be sure to follow our Telegram and Twitter accounts.