Key takeaways
Bybit suffered the most important theft of all time within the crypto house after dropping $1.5 billion to hackers on Friday.
The Bitcoin Pepe presale is now approaching $3 million as extra buyers pile in.
Bybit suffers the most important theft of all time within the crypto house
Bybit, one of many main cryptocurrency exchanges on the planet, suffered the most important theft of all time within the crypto house. The corporate misplaced $1.5 billion to hackers on Friday. In response to ZackXBT, North Korea’s Lazarus Group was behind the hack, they usually withdrew practically $1.5 billion price of funds from the trade right into a major pockets after which distributed the belongings to a number of totally different wallets.
Blockchain information supplier Nansen revealed that the attackers transformed all stETH, cmETH, and mETH to ETH earlier than systematically transferring ETH in $27 million increments to over 10 extra wallets.
The exploit was attributable to one thing known as “Blind Signing.” it’s a state of affairs the place a wise contract transaction is authorized with out the excellent data of its contents.
What’s Bitcoin Pepe?
The broader crypto market remains to be in shock following the Bybit hack however that hasn’t halted funding into new and thrilling tasks. Bitcoin Pepe’s presale started roughly ten days in the past, and the group has raised practically $3 million to this point.
Bitcoin Pepe is a challenge searching for to leverage the liquidity and safety of the Bitcoin blockchain. The challenge will use Bitcoin’s place out there to introduce memecoins to its ecosystem.
Of their whitepaper, the group defined that Bitcoin Pepe is a layer-2 community constructing on the Bitcoin blockchain. This challenge is a meme-specialized layer-2 answer constructed on high of Bitcoin, bringing Solana-style scalability to the Bitcoin community.
Bitcoin Pepe seeks to change into dwelling to all memecoin buying and selling and transfer all this financial exercise to the BTC ecosystem. It should unlock decentralized finance (DeFi) and meme buying and selling on high of BTC.
Because the first-ever meme preliminary coin providing (ICO) on the Bitcoin blockchain, will probably be the right fusion between BTC’s safety and the unstoppable drive of memecoins. With Bitcoin Pepe, BTC Maxis will have the ability to commerce memes. Combining excessive ranges of belief (BTC) with excessive ranges of efficiency (SOL) will result in excessive ranges of retail mass adoption.
Bitcoin Pepe presale approaches $3m
Bitcoin Pepe’s presale started roughly ten days in the past and is presently in its fifth stage. The official Bitcoin Pepe web site exhibits the challenge has raised over $2.85 million.
$BPEP, Bitcoin Pepe’s native token, might be bought utilizing varied cryptocurrencies, together with ETH, USDT, USDC, BNB, and SOL.
On this fifth presale stage, $BPEP goes for $0.0255 and is about to extend to $0.0268 within the subsequent stage. The Bitcoin Pepe presale could possibly be a chance to buy $BPEP at a reduction.
A basic instance of how presale can favour buyers is Solana. Solana’s SOL presently trades at $172 per coin. Nevertheless, it was offered for $0.22 throughout its presale in 2020.
How will Bitcoin Pepe introduce memecoins to the Bitcoin ecosystem?
Bitcoin Pepe is working to make the Bitcoin blockchain dwelling to memecoins. Bitcoin is the main cryptocurrency, with a market cap of practically $2 trillion. Whereas it has liquidity and safety, the Bitcoin blockchain affords much less utility than sensible contract blockchains like Ethereum and Solana.
Bitcoin Pepe needs to vary this narrative by opening up the blockchain and permitting the launch of memecoins and different narratives on the community. Introducing memecoins on the Bitcoin blockchain will allow it to change into dwelling to a loopy high-octane meme expertise.
In response to the group, the BTC bridge will unlock $2 trillion in dormant BTC capital and make it accessible for memecoin buying and selling.
As an L2 community, Bitcoin Pepe will present the mandatory infrastructure for all memes emigrate to BTC, guaranteeing safety and liquidity for buyers and customers. Its native $BPEP token will energy a number of actions throughout the Bitcoin Pepe L2 community.
Why purchase the $BPEP token now?
The Bitcoin Pepe presale could possibly be the right alternative for buyers to get in early on the challenge. Presales enable buyers to achieve early publicity to tasks.
Bitcoin Pepe is working arduous to change into the main L2 community on the Bitcoin blockchain, providing customers safety and liquidity. The introduction of memecoins on Bitcoin may make Bitcoin Pepe one of the vital essential tasks within the ecosystem. The presale permits buyers to buy its native token at a reduction earlier than it’s listed on crypto exchanges.
