US$5.6 million worth of assets were stolen from the Serenity Shield team’s wallet, and the price of the token SERSH dropped 75% in 24 hours

Bitget App

Trade smarter

Cointime2024/02/28 05:37

By:Cointime

According to Cointelegraph, the SERSH token of the blockchain data storage protocol Serenity Shield has plummeted by almost 99% as approximately 6.9 million SERSH tokens worth $5.6 million were stolen from a MetaMask wallet belonging to the team. The hack occurred on February 27 at 17:00 Beijing time, when the 6.9 million SERSH tokens were transferred from the project's MetaMask wallet to an unidentified third-party wallet. CoinGecko data shows that the price of SERSH was trending downward for about 5 hours before suddenly dropping 98% from $0.565 to $0.009 in 5 minutes.The project stated that SERSH will be relaunched using a new token contract, but did not disclose a timetable. Serenity Shield also stated that it is "actively working" to redeploy all liquidity to the new smart contract and replace any liquidity from the hack.The current price of SERSH is $0.57, with a 75% drop in the last 24 hours.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: Panama City council voted in favor of becoming the first public institution of government to accept payments in cryptocurrencies. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, and USDT. The city partnered with a bank that will receive crypto payments and convert them on the spot to U.S. dollars, allowing for the free flow of crypto in the entire economy.

Cryptopolitan•2025/04/16 19:45