Upbit, Coinone Advise Caution When Investing in STX

IconCNT16 May, 2024

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Upbit, Coinone Advise Caution When Investing in STX

Upbit and Coinone, two major South Korean cryptocurrency exchanges, have advised investors to approach investing in Stacks (STX) with caution. This recommendation comes after the discovery that private keys for decentralized applications (dApps) within the Stacks ecosystem were compromised, resulting in the theft of STX tokens. The compromised private keys allowed hackers to transfer STX tokens from victim dApps to their own addresses. The hack has raised concerns about the security of the Stacks ecosystem and has led Upbit and Coinone to urge investors to exercise caution when investing in STX. Previously on May 16, 2024, Upbit and Coinone issued a similar warning to investors about the risks associated with investing in STX. The exchanges advised investors to conduct thorough research and to only invest what they could afford to lose.

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