According to BlockBeats, Bittensor (TAO) experienced a short-term drop of over 15% on July 3rd due to an on-chain wallet theft. The current price of the cryptocurrency is reported to be $236. The sudden drop in value is a direct result of the theft, which has caused a stir in the cryptocurrency market.
The incident has raised concerns about the security of on-chain wallets and the potential risks associated with them. Despite the setback, Bittensor (TAO) has shown resilience in the face of adversity. The cryptocurrency market is known for its volatility, and such incidents are not uncommon.
However, this incident serves as a reminder to all investors about the importance of securing their digital assets. It is crucial to use secure wallets and follow best practices to prevent such incidents in the future. The impact of the theft on Bittensor's (TAO) price is a testament to the potential risks involved in the cryptocurrency market.