Key takeaways
Bybit suffered the most important theft of all time within the crypto area after dropping $1.5 billion to hackers on Friday.
The Bitcoin Pepe presale is now approaching $3 million as extra traders pile in.
Bybit suffers the most important theft of all time within the crypto area
Bybit, one of many main cryptocurrency exchanges on the planet, suffered the most important theft of all time within the crypto area. The corporate misplaced $1.5 billion to hackers on Friday. In keeping with ZackXBT, North Korea’s Lazarus Group was behind the hack, they usually withdrew practically $1.5 billion value of funds from the trade right into a important pockets after which distributed the belongings to a number of completely 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 state of affairs the place a wise contract transaction is authorized with out the great 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 initiatives. Bitcoin Pepe’s presale started roughly ten days in the past, and the workforce has raised practically $3 million up to now.
Bitcoin Pepe is a challenge looking 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 workforce 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 prime of Bitcoin, bringing Solana-style scalability to the Bitcoin community.
Bitcoin Pepe seeks to develop into dwelling to all memecoin buying and selling and transfer all this financial exercise to the BTC ecosystem. It’ll 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, it will likely be the right fusion between BTC’s safety and the unstoppable pressure 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 at the moment in its fifth stage. The official Bitcoin Pepe web site reveals the challenge 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 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 traders is Solana. Solana’s SOL at the moment 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 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 dwelling to a loopy high-octane meme expertise.
In keeping with the workforce, 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, guaranteeing safety and liquidity for traders 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 could possibly be the right alternative for traders to get in early on the challenge. Presales permit traders to achieve early publicity to initiatives.
Bitcoin Pepe is working onerous to develop into the main L2 community on the Bitcoin blockchain, providing customers safety and liquidity. The introduction of memecoins on Bitcoin may make Bitcoin Pepe probably the most vital initiatives within the ecosystem. The presale permits traders to buy its native token at a reduction earlier than it’s listed on crypto exchanges.
