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 this planet, suffered the most important theft of all time within the crypto house. The corporate misplaced $1.5 billion to hackers on Friday. In keeping with ZackXBT, North Korea’s Lazarus Group was behind the hack, and so they withdrew almost $1.5 billion value of funds from the alternate right into a foremost pockets after which distributed the property 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 further wallets.
The exploit was attributable to one thing referred to as “Blind Signing.” it’s a scenario the place a wise contract transaction is accepted 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 staff has raised almost $3 million to this point.
Bitcoin Pepe is a venture in search of to leverage the liquidity and safety of the Bitcoin blockchain. The venture will use Bitcoin’s place out there to introduce memecoins to its ecosystem.
Of their whitepaper, the staff defined that Bitcoin Pepe is a layer-2 community constructing on the Bitcoin blockchain. This venture is a meme-specialized layer-2 answer constructed on prime of Bitcoin, bringing Solana-style scalability to the Bitcoin community.
Bitcoin Pepe seeks to develop into house to all memecoin buying and selling and transfer all this financial exercise to the BTC ecosystem. It is going to unlock decentralized finance (DeFi) and meme buying and selling on prime of BTC.
Because the first-ever meme preliminary coin providing (ICO) on the Bitcoin blockchain, will probably be the proper fusion between BTC’s safety and the unstoppable pressure of memecoins. With Bitcoin Pepe, BTC Maxis will be capable of 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 reveals the venture has raised over $2.85 million.
$BPEP, Bitcoin Pepe’s native token, might be bought utilizing numerous cryptocurrencies, together with ETH, USDT, USDC, BNB, and SOL.
On this fifth presale stage, $BPEP goes for $0.0255 and is ready to extend to $0.0268 within the subsequent stage. The Bitcoin Pepe presale may very well be a possibility 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 house to memecoins. Bitcoin is the main cryptocurrency, with a market cap of almost $2 trillion. Whereas it has liquidity and safety, the Bitcoin blockchain presents much less utility than good contract blockchains like Ethereum and Solana.
Bitcoin Pepe desires 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 develop into house to a loopy high-octane meme expertise.
In keeping with the staff, the BTC bridge will unlock $2 trillion in dormant BTC capital and make it out there for memecoin buying and selling.
As an L2 community, Bitcoin Pepe will present the mandatory infrastructure for all memes emigrate to BTC, making certain safety and liquidity for buyers and customers. Its native $BPEP token will energy a number of actions inside the Bitcoin Pepe L2 community.
Why purchase the $BPEP token now?
The Bitcoin Pepe presale may very well be the proper alternative for buyers to get in early on the venture. Presales enable buyers to realize early publicity to tasks.
Bitcoin Pepe is working arduous to develop into the main L2 community on the Bitcoin blockchain, providing customers safety and liquidity. The introduction of memecoins on Bitcoin might make Bitcoin Pepe one of the crucial vital tasks within the ecosystem. The presale permits buyers to buy its native token at a reduction earlier than it’s listed on crypto exchanges.
