Crypto News Update: Bittensor Blockchain Faces Major Wallet Breach
In a significant turn of events, the Bittensor blockchain has been rocked by a breach impacting numerous user wallets. According to statements from the Tao Community Discord administrator, the TAO Foundation is actively investigating a series of attacks on Bittensor wallets over the past few hours.
As a precautionary measure, all on-chain transactions have been suspended until further details about the attack are uncovered. Initial reports suggest that hackers managed to siphon TAO tokens worth a substantial $8 million from one of the compromised wallets.
A spokesperson from the Bittensor core team addressed the incident, stating, “We are currently investigating the breach and have halted all on-chain transactions as a precautionary step until we ascertain the full nature of this security compromise.”
In response to these developments, the value of TAO has plummeted by 11.3% within the last 24 hours, trading at $239 at the time of this report. It’s important to note that this article does not constitute investment advice.
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