Bittensor Foundation Investigating Wallet Hack as Token Price Drops

IconCryptoNewsTerminal Staff02 Jul, 2024

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Bittensor Foundation Investigating Wallet Hack as Token Price Drops

Bittensor Foundation is currently investigating a wallet attack that has compromised multiple Bittensor wallets. The incident was brought to light by blockchain analytics firm PeckShield, who tweeted about the investigation. As a result of the attack, on-chain transactions have been suspended and the price of the TAO token has dropped by over 14% in the past 24 hours. The Bittensor Foundation has not yet released any further details about the attack, but it is expected that they will provide an update once the investigation is complete. In the meantime, users are advised to exercise caution when using their Bittensor wallets.

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