According to the Litecoin trading platform Huobi.com, as of 10:00 on July 26, Beijing time, the price of Litecoin was RMB 287.96. The opening price of Litecoin on Huobi today was 289.99 yuan. The current highest price is 292 yuan and the lowest price is 282.01 yuan, a decrease of 0.7%.
Look at the hourly chart of Litecoin market on Huobi.com. The price of Litecoin on Huobi.com has broken the shock pattern. The recent shock box of 290-310 yuan has been effectively broken. However, judging from the decline in trading volume and the intensity of the decline, the decline is not large compared with Bitcoin, showing a certain resistance to the decline. Although the willingness to fall is not strong, as the daily-level short position trend has been formed, in the short term, attention is still focused on risks. Shrinking means that the possibility of imminent changes in the market is increased.
LTC Litecoin market hourly chart from Huobi.com
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Ethereum ICO Veritaseum was stolen, losing $4.5 million in funds
Over the past few months, crypto-asset ICOs have been both a blessing and a curse. This type of business model allows users to raise funds without going through official channels. Yet, at the same time, people must entrust millions of dollars to strangers. To make matters worse, ICOs may also face theft and fraud. Veritaseum is the latest ICO to be hacked. The project had $4.5 million worth of tokens stolen last night.
It’s terrible to see a crypto asset project stolen. In most cases, these types of thefts are the result of hacking. The Veritaseum ICO that just concluded recently encountered this accident. Specifically, someone successfully stole a large amount of VERI tokens. All funds were transferred to two different addresses. Currently, the cumulative value of stolen tokens is around $4.5 million, and this attack has gained a lot.
Millions of dollars stolen from Veritaseum ICO
Details about the attack are currently unknown. The hackers appear to have used some "very sophisticated attack techniques," although the team did not disclose specific details. What we do know is that the attack vector has been adjusted to ensure that similar situations don't happen again in the future. Unfortunately for the team, retrieving the funds is nearly impossible. There is no doubt that the stolen tokens will soon be cashed out on multiple exchanges.
Unfortunately, this is not the first time an Ethereum ICO has encountered this type of problem. In fact, recently, theft of funds has become the "normal" for crypto asset ICOs. Not long ago, several projects were stolen due to the MyEhterWallet vulnerability. Additionally, approximately $37 million worth of Ethereum was stolen from some projects in the past few weeks. It is clear that the technology used by these ICOs combined with centralized servers creates a large number of problems. This is the price to pay for adopting immature technology.
Fortunately, the theft had little impact on investors participating in the ICO. It appears that the stolen funds belong to Veritaseum team members, although this has not been confirmed.
Cryptoasset ICOs continue to grab media headlines, often in a negative light. Whether this situation will change anytime soon is uncertain.
The theft of Veritaseum may also be another phishing attack. 4,500 VERI have been sent to Etherdelta so far, worth approximately $500,000.
