Binance Charity, CZ defend $3 million crypto donation amid critique after Morocco earthquake

cyptouser1 years ago319
The controversial donation of $3 million in Binance Coin (BNB) by Binance Charity to victims of the...

Industry insiders challenge Voorhees ‘cryptocurrency over democracy’ stance

cyptouser1 years ago356
A recent keynote address by American entrepreneur and early Bitcoin adopter Erik Voorhees has ignite...

Friend Tech faces continued sniper bot issue, pushing price of popular creators before shares hit ma

cyptouser1 years ago299
Friend Tech faces continued sniper bot issue, pushing price of popular creators before shares hit market

Friend Tech (FT), the web3 social token platform that saw a resurgence in user activity recently, has seen an increase in “sniper bots,” which have been causing significant shifts in share prices.

According to a detailed analysis performed by  X user @unexployed_ of Castle Capital, these bots, beyond their normally expected functionality, are deploying a technique of ‘sniping’ to gain control over high-value profile shares.

In the case of DappRadar’s recent registration on FT, Unexployed revealed that the share prices started at an unusually high point of 0.26 ETH. This was not triggered by a registered account but seemingly by a sniping address interacting directly with the smart contracts, demonstrating the influence of these bots on the market.

Digging deeper into basescan.org, Unexployed was able to trace the chronological order of buyers and sellers. Within the first four blocks, there were already 65 shares on the market. And DappRadar was not alone. Other entities, such as Moonshilla and Rektdiomedes, also faced a similar situation where snipers gained immediate control over their FT supply.

The primary sniper, identified as 0x081…951, executed over 20,000 transactions to acquire the shares. The first 46 transactions failed with the error “Fail with error ‘Insufficient payment” and were reverted, according to Basescan.

CryptoSlate analysis of the transactions revealed that the account attempted to purchase the shares before the owner of the account had purchased the first share (a requirement of FT.) The transaction log states Fail with the error, “Only the shares’; subject can buy the first share”

Friend Tech faces continued sniper bot issue, pushing price of popular creators before shares hit ma
Friend Tech (FT), the web3 social token platform that saw a resurgence in user activity re...

Ripple’s acquisition of Fortress Trust adds to company’s regulatory licenses

cyptouser1 years ago381
Ripple has reportedly completed its acquisition of web3-focused company Fortress Trust for an u...

Tangem applet receives certification from VISA; set to launch self-custodial payment solution

cyptouser1 years ago309
Tangem applet receives certification from VISA; set to launch self-custodial payment solution
Tangem applet receives certification from VISA, sets to launch self-custodial payment solution, acco...

Vitalik Buterin introduces decentralized privacy pools for balancing crypto regulation and anonymity

cyptouser1 years ago344
Vitalik Buterin introduces decentralized privacy pools for balancing crypto regulation and anonymity

A new research paper led by Ethereum creator Vitalik Buterin proposes “Privacy P...

Riot Platforms power strategy reaps $31.7M in Texas energy credits

cyptouser1 years ago370
Continuing its strategic shift aimed at mitigating losses, Riot Platforms, a prominent Bitcoin miner...

Japan’s SBI Group partners with Ripple, but XRP price remains unaffected

cyptouser1 years ago348
Japan-based financial services company SBI Group has partnered with Ripple to use XRP to expand its...

MetaMask rolls out ‘Sell’ feature, allowing users to cash out crypto to fiat in-app

cyptouser1 years ago329
MetaMask rolls out ‘Sell’ feature, allowing users to cash out crypto to fiat in-app
Popular Ethereum wallet MetaMask announced a “Sell” feature on Sept. 5 ...

London Stock Exchange to pioneer blockchain-based trading venue for traditional assets

cyptouser1 years ago317
The London Stock Exchange (LSE) Group is developing a blockchain-based trading venue for traditional...