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HomeNewsDoes the crypto market have a new draft horse? From Investing.com

Does the crypto market have a new draft horse? From Investing.com






Investing.com – The market for cryptocurrencies is rather mixed today. and posted losses of 2.18 percent and 2.97 percent. It looks a little better for those who are happy about a profit of 0.55 percent. The lonely leader is Ripple, because at a price of 0.9903 the daily profit is an impressive 12.00 percent – you can find out more about the background here “”

Blockchain technology is considered one of the secret weapons in the fight for data security. It is all the more annoying that hackers have managed to gain access to multiple blockchains and steal coins valued at over $ 600 million.

The attackers used a vulnerability within a platform that connects different blockchains – the poly network.

Such platforms are always useful, because this is the only way to enable transactions between the otherwise closed blockchains. This enables smooth data exchange between BTC, ETH,,,,,, and Heco Chains. In addition, there is smart contract support for blockchains, which do not come with this functionality by default.

Bitcoin, Ethereum & Co targeted by criminals

The fact that it was now possible to pull the biggest hack in DeFi history through a security hole is not exactly good advertisement for the Poly Network as a DeFi provider. And the fact that you had to ask the hackers via Twitter to return the loot also somehow has a bland aftertaste, since there is apparently no other option.

“We will take legal action and we ask the hackers to return the assets,” announced Poly Network on Twitter.

“The amount you hacked is the largest in DeFi history,” read another tweet.

That seems to have been enough for the attackers in recognition of their performance. They sent the DeFi platform a message with a transaction stating that they were ready to transfer the crypto assets back.




It is not certain whether this procedure was planned from the start. The fact is that the Poly Network published all addresses related to the theft of the tokens. Cryptocurrency exchanges were able to blacklist them in order to prevent the coins from being forwarded. The originally abundant booty lost its value considerably.

Tether Limited responded promptly and immediately froze the $ 33 million worth of hacked stablecoins.

Binance agreed to cooperate in this particular case, but did not want to make any binding commitments.

Binance CEO Changpeng Zhao said: “we proactively support … but don’t give any guarantees.”

Digital tokens are conquering the world of sports – new workhorse for the crypto market

But there is also positive news from the world of digital currencies. The French football club Paris St. Germain successfully poached Lionel Messi from Barcelona. What seems quite unspectacular at first glance, however, could be of increasing importance in the future.

The media spoke of a “welcome package” of 25 to 30 million euros and a not inconsiderable part of this amount contained fan tokens from the club. More and more clubs are starting to establish such fan tokens. Similar to Bitcoin, Ethereum, Cardano and Ripple, these can be traded on crypto exchanges.

Fan tokens are much more than a store of value, however. The point is to strengthen the relationship between a club and the fan base. The tokens can be used to influence decisions of the association.

The news that Messi now also owns such tokens went around the world, which caused the trading volume of PSG tokens to rise to 1.2 billion dollars in the last few days. The token reached its all-time high with the enormous demand at over $ 60.

For some people, sports tokens should be the entry point into the world of digital currencies. After all, buying Bitcoin, Ethereum, Ripple and Cardano at the exchanges where the fan tokens are available is just a click away.

From Marco Oehrl


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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