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Summary of the EigenLayer Hacking Incident in the Cryptocurrency Industry:

1. An abnormal transaction involving EigenLayer's token, EIGEN, was detected, leading to suspicions within the community about market manipulation by the team.
  
2. EigenLayer responded, stating that a hacker hijacked an investor's email to redirect EIGEN tokens to their address, resulting in the sale of stolen tokens on exchanges.

3. Security expert analysis revealed the attacker's method of laundering EIGEN through decentralized exchanges like ChangeNow and centralized platforms like HitBTC.

4. The incident raised questions about EigenLayer's token distribution model, specifically regarding the lack of restrictions on selling tokens after transfer and the absence of a lock-up period for investors.

5. The community criticized EigenLayer for operational flaws, including releasing funds without proper verification and failing to implement standard token unlocking regulations.

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TeraWulf Inc. (NASDAQ:WULF), which owns and operates a vertically integrated domestic Bitcoin mining facility, provided a business update on Thursday.

The company reported a fully funded 7.9 EH/s expansion, increasing standalone mining capacity by 58%.

With Building 3 at Lake Mariner fully operational, the facility's bitcoin mining infrastructure capacity has increased to approximately 160 MW, the company said in a press release.

The company also announced the expansion of high-performance computing projects supporting generative AI and large language modeling applications at its Lake Mariner facility, planned for 2024.

“Opportunistic market conditions have caused us to reassess our initial conservative strategy and opt for a short-term growth strategy,” said Paul Prager, co-founder and CEO of TeraWulf.

“With Building 3 completed ahead of schedule and construction of Building 4 already underway, now is the right time for the halving and beyond.”

The company said that planning is underway for additional growth at Mariner Lake, with construction of Building 4 already underway.

In addition to Lake Mariner's growth, TeraWulf also has the option to add an additional 50 MW of bitcoin mining capacity at its nuclear-powered Nautilus Cryptomine facility, bringing the company's capacity at that location to a total of 100 MW.

The company also announced an expansion of HPC projects supporting generative AI planned for 2024, by link
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