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.


ZachXBT also speculated that the cause could be due to a leaked private key, with an address having withdrawn assets totaling up to $8 million USD.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



(1 vote)

Leave a Reply

Your email address will not be published. Required fields are marked *


Binance Announces Listing Of Banana Gun (banana)

News | Altcoin | Editor Choice

Binance Announces Listing of Banana Gun (BANANA)

The Binance exchange has announced the listing of Banana Gun (BANANA), and this is also the first project on the Binance Airdrops Portal!

Azcnews Whales Accumulate Dogecoin Amid Price Recovery

News | Altcoin | Editor Choice

Whales Accumulate Dogecoin Amid Price Recovery

Recently, Dogecoin investors have accumulated over 60 million tokens. Some analysts believe the current price drop is only temporary.

Pixelverse Officially Announces Pixfi Token Airdrop

Editor Choice | Altcoin | News

Pixelverse Officially Announces PIXFI Token Airdrop

The renowned game Pixelverse, which has attracted close to 80 million users, has finally announced an airdrop for the community through PixelTap and the Dashboard.

Azcnews Bitcoin Drops To $64,000 Amid Us Stock Market Plunge

News | Bitcoin | Editor Choice

Bitcoin Drops to $64,000 Amid U.S. Stock Market Plunge

Bitcoin has corrected back below $64,000 as the U.S. stock market experiences a sharp decline.

Claim Dogs Airdrop (update) And Predict Dogs Price

Editor Choice | Airdrops

Get Free Dogs Airdrop (Update) and Predict Dogs Price

Continuing the mission with Dogs on Telegram, participants of the Dogs Airdrop or those who access the platform and connect their TON wallets. Additionally, predict the price of Dogs upon its listing.