A recent security breach has shaken the crypto world, with $32 million worth of tokens disappearing from a crypto whale's wallet. Blockchain security service ScamSniffer reported the incident.
The Heist
12,083 spWETH tokens were withdrawn, valued at approximately $32.4 million, through the decentralized finance (DeFi) protocol Spark.
The Scam
Blockchain intelligence firm Arkham identified the malicious transaction as the work of Inferno Drainer, a fraud service targeting users with fake DeFi application proposals.
Victim Count
Over 200,000 victims have lost $215 million to Inferno Drainer, according to Dune Analytics.
Operators Commission
Inferno operators receive a 20% commission from stolen tokens.
Identity Unconfirmed
Crypto detective ZachXBT reports the whale's identity remains unconfirmed, sparking curiosity within the crypto community.
Protect Your Assets
Stay vigilant and prioritize blockchain security.
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$ETH

The emergence of Moo Deng coin, inspired by a viral pygmy hippo, has captured the attention of both cryptocurrency enthusiasts and casual observers alike. This memecoin, which has quickly gained traction in the digital asset market, illustrates the volatile yet potentially lucrative nature of meme-based cryptocurrencies.
Background of Moo Deng Coin
Moo Deng coin was launched shortly after a two-month-old pygmy hippo named Moo Deng became an internet sensation. Videos showcasing her playful antics at a zoo in Thailand went viral on platforms like TikTok and Instagram, leading to widespread popularity. The name "Moo Deng," which translates to "bouncy pork" in Thai, was chosen through an online poll that garnered significant engagement from fans135.
Investment Surge and Profitability
The coin's value skyrocketed dramatically within a short span. A notable case involved an investor who turned an initial investment of approximately ₹1 lakh (about $1,300) into over ₹100 crore (around $12 million) within just 17 days. This remarkable increase was partly fueled by a 90% surge in value within 24 hours following its launch134. Such returns highlight the speculative nature of memecoins, where community engagement and social media trends can lead to rapid price fluctuations.
Market Predictions and Future Prospects
Current predictions suggest that Moo Deng coin could see further increases, with estimates indicating a potential rise of over 227% by late October 202426. However, the cryptocurrency market is inherently unpredictable, and while some analysts express optimism about the coin's future, others caution about its volatility and the risks associated with investing in meme-based assets.
Cultural Impact Beyond Cryptocurrency
Moo Deng's influence extends beyond financial markets; it has also inspired beauty trends globally. Influencers are creating makeup looks inspired by the hippo's distinctive features, such as her pink cheeks and smooth skin. This cultural phenomenon underscores how internet celebrities can shape trends across various domains, including beauty and fashion34.
Comparison with Other Memecoins
Moo Deng coin joins the ranks of other popular memecoins like Dogecoin and Shiba Inu, which also capitalized on viral internet culture. These coins often begin as light-hearted projects but can achieve significant market caps based on community support and social media buzz. For instance:MemecoinInspirationMarket Cap (Approx.)Notable GrowthDogecoinShiba Inu dog meme$10 billion3,000% in 2021Shiba InuDogecoin parody$6 billion1,000% in 2021Moo DengPygmy hippo$300 million90% in first day
Conclusion
The phenomenon surrounding Moo Deng coin exemplifies the dynamic interplay between social media trends and financial markets. While its rapid rise offers exciting opportunities for investors, it also serves as a reminder of the inherent risks associated with meme-based cryptocurrencies. As the digital currency landscape continues to evolve, Moo Deng coin may pave the way for future projects that harness viral internet culture to create new economic opportunities.

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After a quiet weekend with low trading volume, Bitcoin ($BTC ) kicked off the week with a 2% dip. Despite this minor pullback, overall market momentum remains intact. A key factor behind this strength is Coinbase, a major player, which has consistently been buying Bitcoin for nearly two months without selling any holdings—indicating strong confidence in the market.
Coinbase’s Buying Strategy
Coinbase’s continued accumulation of Bitcoin, even amid slight price drops, signals resilience. This move is especially encouraging for long-term investors, as large players like Coinbase often set the tone for broader market sentiment. Their strategy shows sustained confidence in Bitcoin’s potential $GNS
ETF Purchases Hit New Highs

Another noteworthy development is the surge in Bitcoin purchases through ETFs (Exchange Traded Funds). Last week, ETF Bitcoin acquisitions reached an all-time high, with a net purchase of 314,000 BTC since the ETF’s approval. This steady influx of capital suggests a bullish long-term outlook for the cryptocurrency.
Technical Analysis
From a technical standpoint, the $60k price level serves as a critical support zone. As long as $BTC holds above this level, the positive trend is expected to continue. Although Bitcoin recently closed above $65k, the low weekend trading volume reduced the significance of this milestone. For the rally to gain real momentum, a high-volume close above $65k is essential.
Conclusion
The ongoing accumulation by Coinbase and the rise in ETF purchases suggest Bitcoin remains strong for the long term. However, short-term movements will depend on key support levels, particularly the $60k mark. As long as this support holds, the market is likely to stay on its upward trajectory.
Stay tuned for more updates throughout the week. Wishing you a profitable and successful trading week ahead!
#btcupdates2024 #BTC☀ #TCPredictedNewATH #BinanceLaunchpoolHMSTR #Write2Earn!