Token

KuCoin Token

2024

<p><em><strong>As the evolution of new technologies is coming into existence, so are the ways to victimize people and commit fraud. Munchables, a popular Web3 platform, lost millions in a security breach on Tuesday, March 27, 2024.&nbsp;</strong></em></p>
<p>Munchables, a Web3 gaming platform that lost $62.5 Million, is an exploit; the ecosystem is based on Blast Network.</p>
<p>A company unveiling rug pulls in the market has identified the theft and tracked the wallet address. The firm informs that the tracked wallet held $17,411 in Ethereum.&nbsp;</p>
<p>The available information states that an existing employee carried out the theft over the Munchables. However, the firm did not confirm the involvement of any employee.</p>
<p>“All user funds are safe,” Munchables stated, adding that it will provide further updates in the coming days.</p>
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   <p lang="en" dir="ltr">All user funds are safe, lockdrops will not be enforced, all blast related rewards will be distributed as well. Updates to follow in the coming days. <a href="https://t.co/ZukNfTFTWf" rel="noopener noreferrer nofollow">https://t.co/ZukNfTFTWf</a></p>— Munchables (@_munchables_) <a href="https://twitter.com/_munchables_/status/1772873122280038801?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 27, 2024</a>
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<h2 class="wp-block-heading" id="strong-timeline-strong"><strong>Timeline</strong></h2>
<p><em>Munchables have been compromised. We are tracking movements and attempting to stop the transactions. We will update you as soon as we know more; the company posted the information on the morning of March 27, 2024.&nbsp;</em></p>
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   <p lang="en" dir="ltr">Munchables has been compromised. We are tracking movements and attempting to stop the the transactions. We will update as soon as we know more.</p>— Munchables (@_munchables_) <a href="https://twitter.com/_munchables_/status/1772739713687752761?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 26, 2024</a>
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<p><em>Following the post of Munchables, ZachXBT’ X’ account posted the wallet address and its balance: “Exploiter address:0x6e8836f050a315611208a5cd7e228701563d09c5 Balance:17.4K ETH ($62.5M).”&nbsp;</em></p>
<p><em>In its post public on 10:10, March 27, the community said, “The Munchables developer has agreed to share the keys for the full Munchables funds without any condition.”&nbsp;</em></p>
<p><em>At 11:05 am, it wrote, “The Munchables developer has shared all private keys involved to assist in recovering the user funds. Specifically, the key holds $62,535,441.24, the key holds 73 WETH, and the owner key contains the rest of the funds.”&nbsp;</em></p>
<h3 class="wp-block-heading" id="strong-crypto-scams-and-frauds-strong"><strong>Crypto Scams and Frauds</strong></h3>
<p>As per a report by<a href="https://www.thecoinrepublic.com/2023/11/24/chainalysis-and-kpmg-canada-to-combat-cryptocurrency-crime/" target="_blank" rel="noopener noreferrer nofollow"> Chainalysis</a>, the revenue of scammers and fraudsters slipped significantly in 2023. The total income from illegal activities slips 29.2% and 54.3%, respectively.&nbsp;</p>
<p>The usage of cryptocurrencies has surged significantly by scammers; some government agencies also claim that it is used as a modern ‘hawala’.</p>
<p><em>Sanctioned entities and jurisdictions together accounted for a combined $14.9 billion transaction volume in 2023, representing 61.5% of all illicit transaction volume we measured in the year, said Chainalaysis.</em></p>
<h4 class="wp-block-heading"><strong>Market Price Update&nbsp;</strong></h4>
<p>The market capitalization slipped 1.01% in the past 24 hours; when writing, it was $2.65 Trillion. Bitcoin (BTC), the market leader, has lost a significant price; its trading price is $70,224.&nbsp;</p>
<p>KuCoin Token is bleeding severely; there are allegations of illegal conduct on the platform. When writing, the KCS was trading at $12.05, with an intraday decline of 16.34%.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/WxcNXnhTc1u98BYnHSVX_pzBgXlQi61d_ObUgh0YY8-fXOnsgk4sAeXYYWJJMpuCPuiqLzgyNWSqSpN7U-cjt2LcxLjobRlrPVv8qF6WMMcH1LQPlJwmoE1ZSHgpheF6lusaN8pwT5XHmAjagZdp3Vg" alt=" Munchables">
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   Source: CoinMarketCap (Kucoin Token Price Chart)
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<p>The 24-hour gainers list is led by Mantle (MNT) as its price grew 40.14%, Sui (SUI) 14.35%, Fetch.ai (FET) 11.54%, SingularityNET (AGIX) 9.36%, Litecoin (LTC) 6.75% and Beam (BEAM) 5.82%.&nbsp;</p>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/miIHttcm-xfT6FbDy4PBHXpbVSaW2P6HzoS_aBQx0hCpAmzTx0c2iE0u42Rv23JyJj4r78okxUuvR0URW9DUry7xhUoiquRCbUERtKULMFK_ndLS_xDuSmEmtp_NL5mPLup7MwRDF33RAf2URnXlcv0" alt=" Munchables">
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   Source: Intraday Gainers list by CoinMarketCap
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<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.</p>

Troubled Munchables Retrieves The Lost Funds- ‘X’ Post

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Thecoinrepublic.com

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