Your Crypto Guy 🇮🇳
Bybit hacker burned 15,000 ETH worth $42.37 million 🔥
Mantle’s mETH Protocol Recovery Claim:
Some reports claim that Mantle mETH protocol recovered the stolen 15,000 cmETH tokens. However, the on chain data shows that the hacker burned these tokens instead of returning them to Mantle.
Some reports claim that Mantle mETH protocol recovered the stolen 15,000 cmETH tokens. However, the on chain data shows that the hacker burned these tokens instead of returning them to Mantle.
What Does Burning cmETH Mean?
If the hacker intentionally burned the tokens, they are permanently lost and cannot be recovered. But If Mantle has a mechanism to remint or reissue the burned cmETH, then they could still claim recovery in some sense.
If the hacker intentionally burned the tokens, they are permanently lost and cannot be recovered. But If Mantle has a mechanism to remint or reissue the burned cmETH, then they could still claim recovery in some sense.
Your Crypto Guy 🇮🇳
As long as BTC is trading above $91k, there is no need to panic.
Right now, Bitcoin is trading its major support area, and breaking below it would not be good. As long as it holds above ($91k) the support level, we’re safe.
On chain data indicates that Binance is offloading a large quantity of its Solana holdings through Wintermute market maker.
There is no volume for btc below this support range. Bitcoin needs to bounce from here. Otherwise, Bitcoin could dump to $73k because there is no volume for Bitcoin in the range from $90k to $73k.
Your Crypto Guy 🇮🇳
Funding rate is increasing while BTC price is declining! Tbh, this is not a good sign.
🤦🏻♂️ Funding rates are still at the same level as when Bitcoin was at $94K!