Scallop Protocol Loses 150,000 SUI Due to Security Flaw
- Security Vulnerability Loss: Scallop protocol reported a loss of approximately 150,000 SUI coins due to a security flaw in a side contract, translating to about $142,000 at current prices; while the company pledged to cover the full amount, this incident negatively impacts its reputation.
- Swift Response Measures: Following the detection of the security vulnerability, Scallop promptly froze the relevant contract to prevent further losses, demonstrating effective crisis management, although users must remain vigilant regarding the platform's security.
- Limited Impact Scope: The incident only affected the sSUI reward pool, with the main contracts remaining secure, indicating a certain level of safety in Scallop's contract design, as all other liquidity pools and user assets were unaffected.
- Normal Transaction Resumption: After the core contracts were reactivated, all transactions on the Scallop platform returned to normal, with deposit and withdrawal activities uninterrupted, showcasing its recovery capability, but there is still a need for enhanced monitoring of potential security risks.
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Technical Analysis for SCA
Technical Sentiment Analysis for Scallop (SCA). As of , Scallop (SCA) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCA 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, SCA 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 $-.
Scallop (SCA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0134 | 0.0149 | 0.016 | 0.0175 | 0.0187 | 0.0201 | 0.0213 |
| Fibonacci | 0.0149 | 0.0159 | 0.0165 | 0.0175 | 0.0185 | 0.0191 | 0.0201 |
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