Fake Axiom App Scam Hits 207 Users As Wallet Drain Warnings Spread

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

SOL+0.766%

X+2.28%

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Scam App Warning: The fake Axiom app has resulted in over 207 victims and more than $147,000 in losses, highlighting security vulnerabilities in the crypto trading environment and prompting Axiom to enhance user warnings.
User Vigilance Lacking: Despite multiple community alerts, users continue to download the impersonator app, indicating a lack of awareness regarding crypto security, which could lead to broader asset losses.
Wallet Security Measures: Users are advised to verify direct URLs before downloading apps and to immediately rotate wallets upon discovering suspicious applications, avoiding the use of the same recovery phrase to ensure asset safety.
Trading Environment Risks: Solana traders face heightened risks due to their rapid operations across multiple platforms and tools, increasing the likelihood of attacks, underscoring the importance of separating long-term storage from daily trading activities.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) 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 SOL 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, SOL 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 $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	72.073	76.037	80.073	84.037	88.073	92.037	96.073
Fibonacci	76.037	79.093	80.981	84.037	87.093	88.981	92.037

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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