Key takeaways
Bybit suffered the largest theft of all time within the crypto house after shedding $1.5 billion to hackers on Friday.
The Bitcoin Pepe presale is now approaching $3 million as extra buyers pile in.
Bybit suffers the largest theft of all time within the crypto house
Bybit, one of many main cryptocurrency exchanges on the planet, suffered the largest theft of all time within the crypto house. The corporate misplaced $1.5 billion to hackers on Friday. In response to ZackXBT, North Korea’s Lazarus Group was behind the hack, they usually withdrew practically $1.5 billion value of funds from the change right into a fundamental pockets after which distributed the belongings to a number of totally different wallets.
Blockchain information supplier Nansen revealed that the attackers transformed all stETH, cmETH, and mETH to ETH earlier than systematically transferring ETH in $27 million increments to over 10 further wallets.
The exploit was attributable to one thing known as “Blind Signing.” it’s a scenario the place a wise contract transaction is authorised with out the great data of its contents.
What’s Bitcoin Pepe?
The broader crypto market remains to be in shock following the Bybit hack however that hasn’t halted funding into new and thrilling tasks. Bitcoin Pepe’s presale started roughly ten days in the past, and the crew has raised practically $3 million thus far.
Bitcoin Pepe is a challenge in search of to leverage the liquidity and safety of the Bitcoin blockchain. The challenge will use Bitcoin’s place out there to introduce memecoins to its ecosystem.
Of their whitepaper, the crew defined that Bitcoin Pepe is a layer-2 community constructing on the Bitcoin blockchain. This challenge is a meme-specialized layer-2 resolution constructed on prime of Bitcoin, bringing Solana-style scalability to the Bitcoin community.
Bitcoin Pepe seeks to develop into residence to all memecoin buying and selling and transfer all this financial exercise to the BTC ecosystem. It is going to unlock decentralized finance (DeFi) and meme buying and selling on prime of BTC.
Because the first-ever meme preliminary coin providing (ICO) on the Bitcoin blockchain, will probably be the right fusion between BTC’s safety and the unstoppable pressure of memecoins. With Bitcoin Pepe, BTC Maxis will have the ability to commerce memes. Combining excessive ranges of belief (BTC) with excessive ranges of efficiency (SOL) will result in excessive ranges of retail mass adoption.
Bitcoin Pepe presale approaches $3m
Bitcoin Pepe’s presale started roughly ten days in the past and is at the moment in its fifth stage. The official Bitcoin Pepe web site reveals the challenge has raised over $2.85 million.
$BPEP, Bitcoin Pepe’s native token, may be bought utilizing numerous cryptocurrencies, together with ETH, USDT, USDC, BNB, and SOL.
On this fifth presale stage, $BPEP goes for $0.0255 and is ready to extend to $0.0268 within the subsequent stage. The Bitcoin Pepe presale might be a possibility to buy $BPEP at a reduction.
A traditional instance of how presale can favour buyers is Solana. Solana’s SOL at the moment trades at $172 per coin. Nonetheless, it was offered for $0.22 throughout its presale in 2020.
How will Bitcoin Pepe introduce memecoins to the Bitcoin ecosystem?
Bitcoin Pepe is working to make the Bitcoin blockchain residence to memecoins. Bitcoin is the main cryptocurrency, with a market cap of practically $2 trillion. Whereas it has liquidity and safety, the Bitcoin blockchain affords much less utility than sensible contract blockchains like Ethereum and Solana.
Bitcoin Pepe needs to vary this narrative by opening up the blockchain and permitting the launch of memecoins and different narratives on the community. Introducing memecoins on the Bitcoin blockchain will allow it to develop into residence to a loopy high-octane meme expertise.
In response to the crew, the BTC bridge will unlock $2 trillion in dormant BTC capital and make it accessible for memecoin buying and selling.
As an L2 community, Bitcoin Pepe will present the mandatory infrastructure for all memes emigrate to BTC, making certain safety and liquidity for buyers and customers. Its native $BPEP token will energy a number of actions inside the Bitcoin Pepe L2 community.
Why purchase the $BPEP token now?
The Bitcoin Pepe presale might be the right alternative for buyers to get in early on the challenge. Presales permit buyers to realize early publicity to tasks.
Bitcoin Pepe is working arduous to develop into the main L2 community on the Bitcoin blockchain, providing customers safety and liquidity. The introduction of memecoins on Bitcoin might make Bitcoin Pepe one of the vital vital tasks within the ecosystem. The presale permits buyers to buy its native token at a reduction earlier than it’s listed on crypto exchanges.
