Robinhood Hackers Steal $8,200 in BNB Tokens, Prompting Security Warning

• Hackers broke into Robinhood’s social media accounts to promote a fraudulent coin called RBH on the Binance Smart Chain.
• An analysis of the token reveals that creator and tokenomics information are missing and the hackers were able to extract around $8,200 worth of BNB tokens.
• Binance CEO Changpeng Zhao revealed that the account in question had been suspended after the incident.

On Wednesday, hackers broke through the social media accounts of Robinhood, a prominent US online trading platform, to peddle a fraudulent coin. The coin, dubbed RBH, had been released on the Binance Smart Chain, with an initial price of $0.005. An analysis by internet inspector ZackXBT revealed that creator and tokenomics information of the coin were missing.

The hackers had also posted on the platform’s Instagram and Facebook accounts, allowing them to extract around $8,200 worth of BNB tokens. Following the incident, Binance CEO Changpeng Zhao announced on Twitter that the account in question had been suspended. A representative from Robinhood revealed that they suspected a third-party vendor was responsible for the breach.

Fortunately, the Robinhood team acted quickly, removing the unauthorized posts within minutes. However, approximately 10 people managed to purchase around $1,000 worth of the fake coin RBH before the posts were taken down. The incident has sparked a discussion about the need for better security measures to prevent similar attacks from occurring in the future.

As the cryptocurrency industry is growing, security is becoming increasingly important. Many exchanges have already implemented measures such as two-factor authentication and other protective protocols to help ensure the safety of users’ funds. However, the Robinhood hack proves that more needs to be done in order to keep malicious actors from exploiting vulnerable platforms.

It is unclear if the hackers responsible for this attack will be identified and brought to justice. However, this incident serves as a stark reminder of the importance of security in the cryptocurrency space. It is essential to take steps to protect yourself, such as using strong passwords and never sharing your private keys with anyone. By following these basic security guidelines, you can help ensure that your funds remain safe.

Dogecoin and Shiba Inu Rally on Twitter’s $Cashtags and Shibarium Launch

• Dogecoin and Shiba Inu have seen significant gains in the last 24 hours, with DOGE up 2.23% and SHIB up 15%.
• The gains are attributed to the recent addition of both coins to Twitter’s $Cashtags feature, as well as the anticipation surrounding the launch of Shibarium, a Layer 2 blockchain.
• Both coins remain formidable forces in the crypto sector, and are likely to continue to drive the meme coin rally.

The crypto market has seen a significant recovery over the last week, with many altcoins following suit. However, the meme coins have been performing particularly well, with Dogecoin and Shiba Inu leading the pack.

Dogecoin and Shiba Inu have been enjoying renewed interest following the recent announcement that Twitter had added them to its $Cashtags feature. This allows users of the social media platform to easily search for DOGE and SHIB, and to view their prices and charts. The news of this feature has seen both coins rally upwards, with Dogecoin recording a 2.23% increase in the last 24 hours and Shiba Inu realizing a 15% increase.

The gains are also attributed to the anticipation surrounding the launch of Shibarium, a Layer 2 blockchain. This new system is said to be more efficient than the traditional Blockchain, and it is hoped that its implementation will lead to even more gains for the meme coins.

It is clear that meme coins remain a formidable force in the crypto sector, and their recent gains are a testament to this. The combination of the news of their addition to Twitter’s $Cashtags feature, as well as the anticipation surrounding the launch of Shibarium, have ensured that the meme coin rally continues. It is likely that both Dogecoin and Shiba Inu will continue to drive the meme coin sector in the weeks and months to come.

Vauld Receives Timely Extension of Creditor Protection to Negotiate Potential Takeovers

• Crypto winter of 2022 led to the bankruptcy of some firms, including Vauld.
• Vauld received three-month protection from its creditors, but a Singapore court has now extended the creditor protection period till February 28, 2023.
• Vauld has received indications from two digital asset fund managers interested in its assets and requested more time from the court to handle the details of a potential takeover.

The crypto space experienced a tumultuous year in 2022 as the bearish market trend caused the bankruptcy of several firms. One of those was the crypto lending firm Vauld, who found itself in a difficult situation and had to suspend withdrawals on the platform. In response, the company filed for creditor protection from its Singaporean creditors and was initially granted a three-month period.

However, due to the complexity of the negotiations, Vauld requested for an extension of the creditor protection period. To that end, the Singapore High Court approved an additional month for the firm to complete the details of the negotiations. This has allowed Vauld to pursue potential takeover offers from two digital asset fund managers, who have expressed interest in acquiring the remaining Vauld assets.

The creditors have recognized the difficulty of the situation and have allowed Vauld time to properly examine the offers and make a decision that is in their best interests. The negotiations are still ongoing, but the additional month of protection granted by the court has provided the necessary breathing room for Vauld to complete the process.

It remains to be seen how this situation will play out, but the fact that Vauld has been able to receive additional protection from its creditors speaks to the importance of the negotiations and the potential of the offers being made. Although the crypto winter of 2022 has had a devastating impact on the crypto space, Vauld is determined to come out of this situation stronger than ever.