The global digital asset industry has been dealing with back-to-back attacks and thefts for the past two days. The last compromised and damaged project was a Metaverse coin. After the hack, the price of the popular Metaverse token began to drop. Here are the details…
This Metaverse coin has been hacked
Sandbox became the latest cryptocurrency project to be compromised. Data monitoring firm PeckShieldAlert shared the attack. Accordingly, the company mentioned that Sandbox’s Instagram account may have been hacked. He also added that users are advised not to interact with links received through Sandbox’s social media platform. Metaverse coin took to Twitter to fix this issue. The gaming firm began its speech by admitting that its official Instagram account had been hacked. He then underlined that it is important for users not to click on any link on their Instagram page. The team also asked users to contact anyone on social media claiming to be from The Sandbox.
Additionally, Sandbox reported that security teams are investigating this issue. In the latest development, Metaverse coin announced that its Instagram account has been temporarily disabled. Their team is still trying to recover their official account. Meanwhile, there has been no news so far that funds have been stolen or users have been victimized by the hack. It is thought that the attackers targeted social media accounts rather than the assets of Sandbox users. The last event took its place as the last link in the chain of hacking attacks in the cryptocurrency market. As we reported as Kriptokoin.com, 3 crypto wallet projects were hacked in the past few days.
SAND price drops
After the hack, the Sandbox price has dropped more than 1% in the last 24 hours. The Metaverse coin was trading at an average price of around $1.28 at the time of writing. Additionally, the token’s 24-hour trading volume fell 11% to $274 million. However, it still has a market capitalization of over $1.64 billion. For those who don’t know, SAND is one of the most popular projects among Metaverse-based cryptocurrencies.
Crypto hacking attacks continue to rise
The crypto industry has been hit hard this week after back-to-back security breaches. After the Nomad and Solana hack, crypto exchange ZB came under the radar of hackers. According to reports, the attack on the stock market resulted in the theft of approximately $3.6 million in funds. After the breach, approximately 2224 ETH was seized. Prior to this, Hackers continued to attack the Nomad protocol. The attackers stole about $190 million over the Nomad protocol. Currently, more than 41 addresses have been found to be affected by the hack. The Sandbox, on the other hand, is the latest example of the attacks that took place this week. However, the hacking attack for the Metaverse coin is different. Because the attackers targeted social media accounts, not user funds this time.
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