Alephium Token Bridge Hack Results in $815,000 Loss
- Hack Incident: Alephium's Token Bridge was hacked on Ethereum, resulting in a loss of approximately $815,000 as hackers minted 13.76 million wrapped ALPH tokens through forged transactions, prompting the project to urgently warn liquidity providers to withdraw their funds, highlighting the pressing need for enhanced security in cross-chain bridges.
- Attack Methodology: Blockchain security firm Blockaid reported that the attacker compromised three of the four guardian keys, allowing them to forge Verified Action Approvals (VAAs) in just about seven minutes, underscoring the vulnerabilities in key management within current cross-chain bridge protocols.
- Funds Movement: The attack resulted in the extraction of 200,967 USDT, 17,594 USDC, 5.18 WETH, and 0.335 WBTC from Ethereum, along with 36,750 USDT and 24.386 WBNB from BNB Chain, illustrating the liquidity risks associated with cross-chain assets.
- Project Response Measures: Alephium has shut down the bridging functionality and urged liquidity providers to withdraw from ALPH pools on Uniswap and PancakeSwap to prevent the hacker from exploiting unauthorized wrapped ALPH for trading, demonstrating the project's strong commitment to liquidity security.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN). As of , TokenFi (TOKEN) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0019 | 0.00219 | 0.00249 | 0.00278 | 0.00308 | 0.00338 | 0.00367 |
| Fibonacci | 0.00219 | 0.00242 | 0.00256 | 0.00278 | 0.00301 | 0.00315 | 0.00338 |
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