U.Today – U.Today prepared the three most critical news from the last day.
Binance Users Lose Millions After Accounts Hacked
Wu Blockchain, an X account dedicated to transmitting cryptocurrency news mainly from Asia, recently reported several account hacks involving Binance users. Users lost millions of dollars as a result of these hacks. The first case tells the story of Chinese user Nakamao who downloaded a KOL-promoted Google (NASDAQ:) plug-in titled Aggr; after doing so, his account dropped to $1 million. The attack took place on May 24 and was facilitated by cross-trading, a technique in which hackers exploit compromised cookies to bypass passwords and verify two-factor authentication. Another Binance user was robbed of his funds on March 1, and the hackers used the same method as hijacked cookies. After the incident, Nakamao conducted an investigation with the security company and discovered several alarming details that raised concerns about Binance’s security measures. For example, Binance allegedly knew about the hacker and compromised plugin for weeks but chose not to respond immediately, resulting in further financial losses. This news received a lot of attention from the crypto community, with many questioning Binance’s ability to protect its assets.
Billionaire investor Chamath Palihapitiya argues for an amount of up to PLN 500,000. dollars
It’s been a few weeks since Bitcoin’s fourth halving event, but industry leaders haven’t stopped speculating on the asset’s potential future price trajectory. Among those who decided to share their opinion on the future of Bitcoin is billionaire investor Chamath Palihapitiya. In a video shared by Altcoin Daily, Palihapitiya pointed out that BTC usually sees significant growth around 12 to 18 months after a halving. The first halving cycle saw its first most significant augment after six months, with an augment of over 10.67x. The second and third halving cycles also saw growth, but more mildly, with increases of 1.34x and 1.79x, respectively. The uptrend associated with the first halving continued, but approximately 18 months after the halving, the second and third halvings saw the largest increases of 27.92x and 7.80x, respectively. Taking all this into account, according to Palihapitiya’s analysis (which he says does not constitute financial advice), if Bitcoin’s price follows the pattern shown by cycles two and three, it could exceed $500,000 by October 2025.
SHIB’s burn rate skyrockets by 348% as price moves towards a breakout
As the SHIB army continues to burn meme tokens, the SHIB price is constantly trying to break through. According to data shared by the Shibburn platform, a total of 21,508,945 SHIB was added to blind wallets in the last day, helping to augment the burn rate by over 348%. The largest amount of SHIB tokens was destroyed by an anonymous crypto whale; in one transaction he burned a huge amount of 21,315,658 SHIB. The second largest transaction was for only 100,000 meme coins. As for the Shiba Inu price, yesterday it increased by 3.79%, from $0.00002430 to $0.00002511. However, as of this writing, SHIB has lost most of its gains and is currently changing hands at $0.00002423, down 2.40% in the last 24 hours, according to CoinMarketCap.
