U.Today – U.Today has prepared the three most important news of the last day.
Binance Users Lose Millions After Accounts Hacked
Wu Blockchain, an X account dedicated to covering cryptocurrency news primarily in Asia, recently reported several cases of account hacking, the victims of which were Binance users. As a result of these hacks, users lost millions of dollars. The first case tells the story of a Chinese user, Nakamao, who downloaded a Google (NASDAQ:) plugin promoted by KOL titled Aggr; After doing that, his account didn't reach $1 million. The attack took place on May 24 and was facilitated through cross-trading, a technique in which hackers leverage hijacked cookies to bypass password verification and two-factor authentication. Another Binance user had his funds stolen on March 1, and hackers used the same method of hijacked cookies. After the incident, Nakamao conducted an investigation with a security company and discovered several alarming details that raised concerns about Binance's security measures. For example, Binance allegedly knew about the hacker and compromised plugin for weeks but decided not to act immediately, resulting in further financial losses. The news attracted widespread attention from the crypto community, with many questioning Binance's ability to safeguard its assets.
Billionaire investor Chamath Palihapitiya pleads for $500,000
It has been several weeks since the fourth Bitcoin halving event took place, but industry leaders have not stopped speculating about the possible future trajectory of the asset's price. Among those who decide to share their opinion on what the future holds for Bitcoin is billionaire investor Chamath Palihapitiya. In a video shared by Altcoin Daily, Palihapitiya drew attention to the fact that BTC usually records significant growth 12 to 18 months after the halving event. The first halving cycle recorded its first most significant increase after six months, with a growth of more than 10.67 times. The second and third halving cycles also recorded growth, but more moderately, with increases of 1.34x and 1.79x, respectively. The growth trend of the first half persisted, but approximately 18 months after the halving event, the second and third halves saw the largest increases of 27.92x and 7.80x, respectively. Taking all that into account, according to Palihapitiya's analysis (which, in his words, does not constitute financial advice), if the price of Bitcoin follows the pattern shown by cycles two and three, it could exceed $500,000 by October 2025 .
SHIB Burn Rate Soars 348% as Price Struggles to Breakout
As the SHIB army continues to incinerate meme tokens, SHIB price continues to attempt to breakout. According to data provided by the Shibburn platform, a total of 21,508,945 SHIB were sent to dead-end wallets over the past day, helping to increase the burn rate by over 348%. The largest amount of SHIB tokens was destroyed by an anonymous crypto whale; In a single transaction, he burned a whopping amount of 21,315,658 SHIB. The second largest transaction carried only 100,000 meme coins. Regarding the price of Shiba Inu, yesterday it managed to rise by 3.79%, going from 0.00002430 dollars to 0.00002511 dollars. However, at the time of writing, SHIB has lost most of its gains and is currently changing hands at $0.00002423, down 2.40% in the last 24 hours, according to CoinMarketCap.
This article was originally published on U.Today.
