Santiment, a cryptocurrency analysis company, has identified two cryptocurrencies that are facing intense FUD, according to its recent statement. The company has detected fear, uncertainty, and doubt surrounding Bitcoin (BTC) and Bittensor (TAO).
The analysts at Santiment have observed that Bittensor has been experiencing intense FUD due to a security vulnerability that resulted in the theft of $8 million worth of TAO from cryptocurrency users’ wallets, leading to a decrease in its value. Meanwhile, Bitcoin saw a brief drop below $60,000 on its chart, causing traders to express concerns about potential negative trends and prompting some to sell their assets as a precaution.
Following an attack on several user wallets, the Bittensor blockchain was temporarily halted, resulting in a 15% decrease in TAO prices. The investigation into the attack, which is believed to have been caused by a private key leak, is ongoing, and Bittensor has been placed in “safe mode” to prevent further transactions until more information is obtained.
A core team member of Bittensor stated, “We are investigating, and out of an abundance of caution, we recently halted on-chain transactions entirely until we learn more about the nature of this attack,” on the project’s Discord channel.
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