June 2, 2024 Grandpa checks in
Velocore was hacked on zkSync and Linea chains, all LPs were exhausted, and hackers stole 1,807 ETH and transferred them to Tornado Cash. In the past six months, there seem to be fewer cases of project attacks, but the fact is that any project is under the full threat of different hackers 7x24 hours a day. Any small loophole may be exploited by hackers, and then lose part or all of the funds. Therefore, if you are not familiar with wallets, my suggestion is that all major asset classes are placed in several large exchanges, and the amount of interaction for any single project should not exceed the principal that can be lost. After all, hackers may attack at any time, and it is just a matter of probability.
From small cases like personal wallets being phished to big cases like Mentougou mentioned a few days ago, which went bankrupt because the wallet of the trading platform was stolen. In history, there was also a hard fork of Ethereum, which was caused by the Dao project being attacked by hackers using a loop vulnerability. There are still countless projects of all kinds, which are completely a black forest on the chain. Since we have chosen decentralization, we cannot avoid being attacked. What we can do is to separate the assets and be prepared for the loss of all funds in any basket.
In terms of market conditions, the new coin of BN has been rising sharply in the past few days. In a short period of time, the coins such as NOT and BB have risen 2-3 times from the lowest point. It has to be said that the B circle is often competing with the dog dealer. When the market has been scolding BN for raising money and the price of new coins has fallen without a bottom line, the main force is quietly collecting chips. The recent rise is because most of the chips in the hands of retail investors have been sold, so it is easy to pull up. When the market's attention and funds are attracted, the main force begins to distribute high-priced chips to retail investors. Of course, no one knows this high price, and even the main force has to adjust according to market conditions.
As for the overall market, Ethereum is still around 3,800. In fact, whether it is mainstream or copycat, the rise and fall of prices require the participation of funds. Ethereum had funds coming in a while ago, which pushed it up by more than 20%, but from the perspective of the exchange rate, it is actually just catching up with the previous wave. In the recent market, there is not much cost-effectiveness to buy. Funds are rotating in sectors, so you can only ambush or wait for the market to take a new direction. Both Bitcoin and Ethereum can fluctuate at high levels, so there is no need to be afraid of spot positions.
Thank you for your attention and likes.
