Honestly Speaking I dont feel good , this also happened when every celebrities promoted $Doge. After the pump we faced the bear market but now this celebrities #Memecoin ruined the whole Crypto.
They launched and then rugged, millions of dollars wiped out from the market again and again.
#Airdrop season is over and #meme season is over too.
Hope we are not going to ultra bear phase . I hope not.
After hating BTC for almost 7 years I'm being forced to accept that only BTC is real Crypto and everything else is fake technology without any use case.
At the end of the day only real fundamentals win. Crypto market has been getting saturated and less powerful since 2017 peak.
While stocks gaining more and more power, momentum and long term investors while in crypto half of the participants get scammed on a regular basis and let it be phishing, hacking, rugging, exchange hack/bankrupt Or slow exit scam.
There is very little incentive and a very large risk for a long term investor in crypto. I hope it gets better soon.
Bridge mixes in $300M of North Korean and other tainted crypto.
The Avalanche Bridge has retail users firmly in mind and has been widely promoted by Ava Labs. However, for reasons we shall explore, bad actors including North Korean hackers and Russian spies, have deposited almost $300M in tainted and stolen assets into the Avalanche Bridge. Oftentimes the assets have been transferred from dark net markets, mixers, or accounts that are banned by OFAC (Office of Foreign Assets Control). These assets have become co-mingled with bonafide user assets in the pool of assets that Ava Labs maintains.