Hamster Coin price goes fully parabolic and recovers nearly completely in 36 hours.
Hamster Coin Weathers Exploit
Fans and users of Hamster Coin and BNB Chain were given news of a hacker attack that has seen the price of Hamster Coin’s native token, $HAM, crash by almost 80%. The token has since recovered nearly all of its price, at the time of writing.
The Hamster Coin team confirmed via both Telegram and Twitter on February 28 that they awoke to hacker attacks on the ecosystem. The team informed the Anti-Money Laundering Office and members within the industry. No reason for the exploit has been confirmed so far and the HamSwap function is still disabled.
“We started the day under hacker attacks,” the Hamstercoin team told its community. “Found out hacker’s wallet address. And informed AML office and industry as well. His/them [sic] wall address frozen.”
The Hamstercoin team continued to say how it will seek legal action against the malefactor. The team specifically thanked the BNB Chain team and has also informed users in another message that the recovery process has begun and most of the tokens have been returned to users. The Hamstercoin team has announced it will push for a buyback and burn to help sustain the price recovery as well.
HamsterCoin received an audit back in November 2021 from Certik, so it will be curious if the team presents a more complete post-mortem. We’ll also see if the legal threats can manifest into anything tangible.
What is HamsterCoin?
$HAM is the native token of the memecoin project Hamster Finance. The project claims half of its supply was locked, burned upon unlocking at certain periods, while half was supplied for sale on PancakeSwap and has no main owner. The project encourages consistent open communication and professes trust, transparency, and community as its pillars of success.
Where to find Hamster Coin:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
