Bittensor Suspends Transactions Amid Suspected Attack

The AI platform Bittensor has recently announced a temporary suspension of transactions to investigate suspected security issues.

Bittensor Suspends Transactions Amid Suspected Attack
According to on-chain detective ZachXBT, the Bittensor blockchain network (TAO) has announced a temporary suspension of transactions to investigate rumors of a security breach. This information was confirmed by a representative of Bittensor on the project’s Discord.

Bittensor

ZachXBT also speculated that the cause could be due to a leaked private key, with an address having withdrawn assets totaling up to $8 million USD.

Earlier in June, a Bittensor user also lost $11.2 million USD worth of TAO tokens under unclear circumstances.

Data from Bittensor’s block explorer also indicates that the network has been disrupted since around 23:20 on July 2, 2024 (UTC).

Related: What is Bittensor? Information about TAO Token

Price fluctuations of Bittensor (TAO)

Bittensor utilizes blockchain technology to create a decentralized platform for developing, training, and exchanging artificial intelligence models. The TAO token serves as an incentive for members to contribute computational resources and data to the network’s AI training processes.

Previously, the price of the TAO token dropped more than 15% in the past 24 hours, from $281 USD to $230 USD, according to data from CoinmarketCap.

Cmc

(1 vote)

5.0/5

(1 vote)

Latest

Vitalik Buterin Issues Risk Warning About Worldcoin

Altcoin | Editor Choice

Vitalik Buterin Issues Risk Warning About Worldcoin

Vitalik Buterin has issued a warning about the risk of privacy breaches undermining the privacy rights that Worldcoin provides.

Binance Linked Group Joins Drafting Of Crypto Legislation In Kenya

News | Editor Choice | Policy & Regulations

Binance-Linked Group Joins Drafting of Crypto Legislation in Kenya

The inclusion of an organization allegedly closely tied to Binance in Kenya’s new crypto regulatory board has sparked concerns among local startups about potential policy manipulation and unfair competition.

Transforming $86,000 Into $1 Million Through Daily Bitcoin Dca

Editor Choice | Bitcoin

Transforming $86,000 into $1 Million through Daily Bitcoin DCA

An account X is sharing a video about the daily DCA (Dollar-Cost Averaging) journey of Bitcoin from $86,000 to $1 million after nearly 2 years.

The American Bank Urges Customers To Sell These 3 Coins

Altcoin | Editor Choice | Policy & Regulations

The American Bank Urges Customers to Sell These 3 Coins

The federally licensed digital bank Anchorage Digital has urged customers to withdraw funds from USDC, AUSD, and USD0.

Bitcoin Continues To Rise As Market Enters A Crucial Phase

News | Bitcoin | Editor Choice

Bitcoin Continues to Rise as Market Enters a Crucial Phase

The cryptocurrency market is at a decisive moment as Bitcoin hovers around the $110,000 mark, signaling a potential breakout amid an intense standoff between bulls and bears.