The founder of Cobo, a cryptocurrency custody service provider, says the private keys of addresses for an altcoin project are vulnerable to exposure. Blockchain security firm PeckShieldAlert warns of the potential risks associated with staking APE tokens in NFT pools.
Private keys of altcoin addresses are at risk
cryptocoin.comAs you follow, the upcoming Shanghai Upgrade for Ethereum is generating interest in the crypto community. But increased scrutiny could hurt ETH’s future. The founder of Cobo warns that the private keys of staked ETH addresses may be vulnerable to exposure.
According to Shenyu, founder of Cobo, a digital asset custody service provider, the private keys of Ethereum addresses that stake their ETH may be at risk of being exposed. This news is a source of concern to the community and steps may be needed to mitigate the potential harm. To reduce the risk of private keys being exposed, Cobo’s founder recommends central staking providers evaluate private key storage methods, consider the situation by authorized personnel, and create contingency plans. This can help prevent potential harm to the Ethereum community.
Shenyu also advises caution, citing a similar case where multiple private keys were exposed during the launch of Arbitrum’s AirDrop. This further highlights the importance of taking preventative measures to protect private keys and prevent potential harm to the Ethereum community.
The number of validators on the Ethereum network has increased
Despite growing concerns, validators on the Ethereum network continue to support the upcoming upgrade. According to Staking Rewards data, the number of validators on the network has increased by 3.08% over the past 30 days.
As of now, there are 563,803 validators on the Ethereum network, which collectively generate $2.34 billion in revenue. This shows that despite the potential risks associated with the Shanghai Upgrade, the community continues to trust the future of Ethereum.
Additionally, traders are also showing a positive sentiment towards ETH, possibly due to the drop in the implied volatility (IV) of Ethereum options. According to Greeks Live, IV for Ethereum has dropped 8% in the last two weeks. The drop in IV for Ethereum shows that the market sees Ethereum price as less risky and uncertain.
Altcoin options drop sharply
Wu Blockchain shared this morning that the Implied Volatility of Ethereum options has seen a sharp drop despite the upcoming Shanghai rise. According to the tweet, the main reason for the sharp drop in the Implied Volatility of ETH options is the drop in market liquidity due to Easter.
According to press time, the price of the leading altcoin fell 2.11% after suffering a 24-hour loss, according to CoinMarketCap. Despite the 24-hour decline, ETH’s weekly price performance remains in the green at +0.92%. As a result, the price of ETH is currently at $1,836.69. Also, Bitcoin has outperformed ETH in the last 24 hours, with ETH currently down 1.50% against the market leader.
Crypto analyst Steven Walgenbach points out the following levels in the technical outlook for ETH. ETH price recently declined below the key support level near $1,845. In addition, the altcoin price also declined below the positive trend line set on the daily chart. If the price of ETH closes today’s trading session below these two key levels, it will continue to drop to the 20-day EMA line in the next 24-48 hours.
The daily RSI line has dropped below the daily RSI SMA line in the past 24 hours, indicating that the price of ETH will drop to the 20-day EMA line in the next 24-48 hours, potentially falling to the next key support level at $1,715. This bearish thesis will be invalidated if the altcoin price can close today’s trading session above $1,845. If this happens, ETH’s price could rally to the next minor resistance level at $1,911.95.
Bored Ape owners should be careful!
A recent tweet by PeckShieldAlert, a leading blockchain security firm, raised concerns about the potential risks associated with staking APE tokens in NFT pools. According to the tweet, users who stake APE in NFT pools and then sell their NFTs risk losing their staked APE tokens. This issue was highlighted when an exploiter/arbitrageur with address 0x06800a purchased Bored Ape Yacht Club (BAYC) number 7810 and received 14,300 staked APE tokens worth approximately $60,000.
As users can stake their tokens to support the network and receive rewards in return, staking has become a popular method for generating passive income in the crypto space. However, the post by PeckShieldAlert reminds us that staking is not without risk, especially when it comes to NFT pools.
Bored Ape Yacht Club (BAYC) is a well-known NFT project that has gained immense popularity in the crypto world since its inception in April 2021 and has become one of the largest collectibles in the world. The project has a collection of 10,000 unique Bored Ape NFTs, each with different characteristics and rarities.
The issue of losing staked APE tokens upon sale of an NFT raises questions about the safety and reliability of staking in already questionable NFT pools. It is very important for those new to the NFT industry to do careful research when interacting with similar solutions. In light of the PeckShieldAlert tweet, users should be careful when staking APE tokens in NFT pools and be aware of the possible consequences of selling their NFT as it may result in some significant losses. It’s important to be aware of potential pitfalls and exploits in the industry.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.