Key takeaways
Bybit suffered the largest theft of all time within the crypto area after shedding $1.5 billion to hackers on Friday.
The Bitcoin Pepe presale is now approaching $3 million as extra traders pile in.
Bybit suffers the largest theft of all time within the crypto area
Bybit, one of many main cryptocurrency exchanges on the earth, suffered the largest theft of all time within the crypto area. The corporate misplaced $1.5 billion to hackers on Friday. In line with ZackXBT, North Korea’s Lazarus Group was behind the hack, and so they withdrew practically $1.5 billion value of funds from the alternate right into a foremost pockets after which distributed the property to a number of completely different wallets.
Blockchain knowledge 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 extra wallets.
The exploit was attributable to one thing known as “Blind Signing.” it’s a state of affairs the place a sensible contract transaction is authorised with out the excellent 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 initiatives. 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 venture in search of to leverage the liquidity and safety of the Bitcoin blockchain. The venture will use Bitcoin’s place available in the market 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 venture is a meme-specialized layer-2 resolution constructed on high of Bitcoin, bringing Solana-style scalability to the Bitcoin community.
Bitcoin Pepe seeks to turn into residence to all memecoin buying and selling and transfer all this financial exercise to the BTC ecosystem. It would unlock decentralized finance (DeFi) and meme buying and selling on high 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 drive 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 exhibits the venture has raised over $2.85 million.
$BPEP, Bitcoin Pepe’s native token, will be bought utilizing varied 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 may very well be a possibility to buy $BPEP at a reduction.
A basic instance of how presale can favour traders 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 gives much less utility than good contract blockchains like Ethereum and Solana.
Bitcoin Pepe needs to alter 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 turn into residence to a loopy high-octane meme expertise.
In line with the crew, the BTC bridge will unlock $2 trillion in dormant BTC capital and make it obtainable for memecoin buying and selling.
As an L2 community, Bitcoin Pepe will present the mandatory infrastructure for all memes emigrate to BTC, guaranteeing safety and liquidity for traders 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 may very well be the right alternative for traders to get in early on the venture. Presales enable traders to achieve early publicity to initiatives.
Bitcoin Pepe is working exhausting to turn 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 necessary initiatives within the ecosystem. The presale permits traders to buy its native token at a reduction earlier than it’s listed on crypto exchanges.
