Strategic Expansions Shape the Digital Frontier
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This week has been packed with significant developments across the crypto and blockchain landscape, from shocking hacks to strategic partnerships aimed at advancing technology. The most shocking news is the McDonald’s Instagram account hack, exploited to promote a meme coin called $GRIMACE. The second important news is Tether’s strategic expansion onto the Aptos blockchain for USDT circulation. Apart from these two news, other news include groundbreaking collaborations between leading blockchain and AI firms. These events highlight the dynamic and rapidly evolving nature of the digital world. Below, we dive into the most notable news that shaped the week, offering insights and implications for the future. Hacker Exploits McDonald’s Instagram to Pump $GRIMACE Crypto Meme Coin This is the most shocking as well as catchy news from this week. McDonald’s Instagram account was recently hacked, with the attacker using it to promote the $GRIMACE meme token. On-chain analytics firm Lookonchain reported that the hacker leveraged the fast-food giant’s credibility to make the coin appear legitimate. The hacker also used 24 insider wallets to purchase 705 million $GRIMACE tokens with just 65 $SOL before the attack. The hacker then sold the tokens for 5,202 $SOL, making a profit of 5,136 $SOL, worth around $738,000. This represents a staggering 79x return on the initial investment. The incident has left people in shock and experts now giving stress on doing proper research before investing (DYOR). Tether In Preparation to Launch USD₮ Stablecoin on Aptos Blockchain This is another significant news from this week. On August 19, 2024, Tether announced its plan to launch USD₮ on the Aptos Network. This move aims to enhance the accessibility and reliability of Tether’s stablecoin by leveraging Aptos’ fast and scalable blockchain technology. Remember that the majority of presently circulating USDT supply is on Tron and Ethereum blockchains. Aptos…
Filed under: News - @ August 25, 2024 8:05 am