Santiment, a cryptocurrency analysis company, has identified two cryptocurrencies that are currently facing intense FUD, or fear, uncertainty, and doubt. According to their findings, Bitcoin (BTC) and Bittensor (TAO) are the subjects of concern among traders.
Bittensor has experienced a security vulnerability, resulting in the theft of $8 million worth of TAO from users’ wallets. This has led to a loss in value for the cryptocurrency and an overall sense of fear in the market. As for Bitcoin, a brief drop in its value below $60,000 has caused traders to worry about potential negative trends, prompting some to sell their assets as a precaution.
The Bittensor blockchain was temporarily halted following the attack on user wallets, causing a 15% decrease in TAO prices. Investigations into the attack, suspected to be caused by a private key leak, are ongoing and the Bittensor network has been placed in “safe mode” to prevent further transactions until more information is obtained.
As the situation unfolds, Bittensor core team members are actively investigating the issue and have halted on-chain transactions as a precautionary measure. It is important to note that this information is not intended as investment advice.
For those interested in investing in over 300 cryptocurrencies, Binance exchange is offering a 20% commission discount for new registrants. To stay updated on the latest news, analytics, and on-chain data, readers are encouraged to follow Santiment’s Telegram and Twitter accounts.
