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Dorjoy12

Do not buy cover coin!

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At the time of  checking twitter,   Cover protocol  tweet  that their cover  coin get hacked which lead the cover coin price drop  850 usd to 18 usd..  In this case  no one should buy cover  coin because its officially  said by cover  protocol  founder..  Also a thing  you need to know that Binance  exchange  site  also suspended  the cover deposit  temporary  because  of this huge hack..  

After few hours of cover  protocol  hack the hacker back some funds to cover  protocol  with said that " Next  time, take care of your own shit" 😆😆..

NOTE: once again i told every  one to do not buy cover  token just Because  of it's  price drop  as you can face  Problem  later..  There has a chance  cover protocol  launch new contract  address  for cover  protocol .. Also those holder  holding cover  coin,  do not sell it..  They will back  your funds after replenish  their contract  address ..  

News source :. https://www.theblockcrypto.com/post/89368/defi-protocol-cover-exploited-attackers-minted-at-least-40-quintillion-tokens

 

 

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Edited by Dorjoy12
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On 12/29/2020 at 4:11 PM, Abdullah jan said:

Hey mate

Omg it's not good to steal others money I also dis courage this but it's our mistake too we should follow the instructions and also put a strong password to be safe so be smart and be save and don't think the world is like u as a innocent be strong be smart 

 You should read my topic more attentively man because this is about hacking cover coin protocol based on DeFi blockchain..  This hacking was not held from a single user or from any institutional investor but it happened from the whole cover coin protocol which lead off withdrawal, deposit for all cover coin exchange..               

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Thanks for your information, in my particular case I liked Cover and I didn't buy it because I didn't have any money available, honestly I was saved and for all of us who invested in DeFi we know the risk of hacking the protocol and what it implies.
I read that they are going to make a snapchot from a certain block and they are going to give out a new token, so you should not buy the current token on the market.

 


 

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I wasn't going to buy any of the useless defi that are full of bugs and getting exploited so often, probably now it is almost everything has been hacked and lost funds so the risk should be around 99% of losing your funds if you invest in them, doesn't worth it and unless some projects with good code appear defi don't have a chance.

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I have not idea about this Cover coin but thank you for sharing this information here to avoid other to fall in the scammers traps. And we should be careful about the such DeFi project not all are legit, the majority are created by the scammers. So never invest your money in a such unknown project.

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On 12/30/2020 at 11:35 PM, tienda said:

I have not idea about this Cover coin but thank you for sharing this information here to avoid other to fall in the scammers traps. And we should be careful about the such DeFi project not all are legit, the majority are created by the scammers. So never invest your money in a such unknown project.

 You are totally right because  recently  DeFi create a hype  in crypto  world which attract people like a magic  but soon it popularity  will decrease  as it create  always  shit coin..  Actually  cover  coin price  was cool though  the hacking of cover  protocol  down its price  huge..  Let's  see this protocol  able to stand up again  or not.. 

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Looks like it was all done by a white hat or a penetration tester or can we say it was all about fear on the hackers part?. Anyways, the good news is that the hackers have returned all of the funds but not until the value of $Cover dropped by more than 170% and it seems not to be recovering a bit even after the news. 

This will be a wake up call to create more secure protocol. This cannot be allowed to happen to people's funds and life investments.

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Honestly, I did not even know this coin named "COVER" existed. I don't like to look down on cryptocurrency projects but definitely prefer to rest assured investing and holding only those coins on the very top of the market capitalization and that have been along for long without having this kind of attacks. I know sometimes people like to experiment with new coins but in my opinion this can be costly sometimes.

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On 12/29/2020 at 12:34 PM, Dorjoy12 said:

At the time of  checking twitter,   Cover protocol  tweet  that their cover  coin get hacked which lead the cover coin price drop  850 usd to 18 usd..  In this case  no one should buy cover  coin because its officially  said by cover  protocol  founder..

Lol, $850 USD to 18 USD ? I think it is their own strategy to cheat. Is hacking confirmed by the concerned authority ? Otherwise, I am facing a hard time to believe it is hacked. What is the point behind it to initiate that value that much higher ? If the bugs were appeared in their smart contracts, it should be genuinely recognized by the tech-savvy experts first. 

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Probably a factor as to why they're doing so poorly. So if you invest, you should have a 99% risk of losing your funds. Among them it is not valuable. I was going to buy a useless deflee that is full of bugs and is often exploited, which is why I found out.

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It`s a very interesting story and it repeats again and again. Some DeFi protocols have already been hacked last summer. Again and again appears DeFi projects, which attract many investors and then hackers just steal their money. Fortunately, for now there was an exception and funds were returned, but anyway, everyone should be careful investing in such projects 

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5 hours ago, Whited35 said:

Lol, $850 USD to 18 USD ? I think it is their own strategy to cheat. Is hacking confirmed by the concerned authority ? Otherwise, I am facing a hard time to believe it is hacked. What is the point behind it to initiate that value that much higher ? If the bugs were appeared in their smart contracts, it should be genuinely recognized by the tech-savvy experts first. 

I do not know what is the exact  reason Brothers  but i heard that one DeFi protocol  did this same strategy  as you mentioned ..  The protocol  authorities  hack the protocol  then declare  to its uses that they got hacked..  Almost  all the user got shocked and start to doubt about DeFi project.. I forget the protocol  name.. 

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10 hours ago, Dorjoy12 said:

I do not know what is the exact  reason Brothers  but i heard that one DeFi protocol  did this same strategy  as you mentioned ..  The protocol  authorities  hack the protocol  then declare  to its uses that they got hacked..  Almost  all the user got shocked and start to doubt about DeFi project.. I forget the protocol  name.. 

Alright but next time, while presenting any issues on the forum, kindly gather all the essential information behind the issue. At least clues are necessary to be as specific as possible. All DeFi platforms are not truly decentralized. Some malicious developers modifies the system to secretly sync data to the secret servers  so users should be careful. 

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16 minutes ago, Whited35 said:

while presenting any issues on the forum, kindly gather all the essential information behind the issue.

I have remember  now that DeFi protocol  harvest  Finance  got hacked  and lost almost  $24 million usd though  the user  of harvest  claim that it was not get hacked by any hacker ofcourse.. Because  after audit the smart contract  how a coin able to get hacked??  Actually  DeFi scammers  use this hype to collect huge profit.. 

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On 12/29/2020 at 12:49 PM, Dorjoy12 said:

At the time of  checking twitter,   Cover protocol  tweet  that their cover  coin get hacked which lead the cover coin price drop  850 usd to 18 usd..  In this case  no one should buy cover  coin because its officially  said by cover  protocol  founder..  Also a thing  you need to know that Binance  exchange  site  also suspended  the cover deposit  temporary  because  of this huge hack..  

An exchange site is hacked.  And the hackers stole the cover coins of that site, causing the price of those coins to drop from 850 usd to 18 usd.  So we will not buy cover coins from any exchange site because it is not safe.  Many exchange sites have been hacked resulting in many losing a lot of money.  So we need to be aware of these hacking.  And refrain from buying all types of coins.

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6 hours ago, Dorjoy12 said:

I have remember  now that DeFi protocol  harvest  Finance  got hacked  and lost almost  $24 million usd though  the user  of harvest  claim that it was not get hacked by any hacker ofcourse.. Because  after audit the smart contract  how a coin able to get hacked?? 

It can be detected while monitoring the transaction records. Generally breaches from the smart contracts can be identified if hackers have already managed to drain a huge amounts of the coins from the platform and I guess, similar case was applicable for this hack too however, I still need to search  more details about the incident how the hackers trick up the system. 

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It is always high risk to invest into lesser known coin and lesser know crypto projects. I would recommend to invest in more known coins and tokens instead, preferably the top 20 to 30 coins in the market for a more secure investment.

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5 hours ago, Whited35 said:

, I still need to search  more details about the incident how the hackers trick up the system. 

 You can but already  lot of defi investor stop trust on defi now..  Recently we are going to get  another  defi protocol  coin name Moon which also getting good popularity  now and every one thinking it will be cool..  I wanna  see how long DeFi project run with hype then because  IDO is coming 😅

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On 1/3/2021 at 10:48 PM, Dorjoy12 said:

 You can but already  lot of defi investor stop trust on defi now..  Recently we are going to get  another  defi protocol  coin name Moon which also getting good popularity  now and every one thinking it will be cool..  I wanna  see how long DeFi project run with hype then because  IDO is coming 😅

Hey, not all DeFi projects are running due to the hypes. There are already so many decent DeFi platforms with the unmatched security adjustments and encryptions. Moon means Moonswap or anything else? I do not have much information about that. Especially, problems are seen in the recently created some new DeFi platforms. 

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14 hours ago, Whited35 said:

Moon means Moonswap or anything else? I do not have much information about that.

Moon is a new defi coin recently  going  to launched  Which  bounty  thread available  in bitcointalk  forum  bro..   Now the presell of moon coin is around 1.5 usdt in Uniswap  exchange  site ..  If you are Interest  in it then you can invest your some money Too THERE  for good  profit.  

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Sorry brother I am new on this coin, I have no information about it, Please inform us more about these present circumstances. please tell us more about what is its advantage. 

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11 hours ago, Dorjoy12 said:

Moon is a new defi coin recently  going  to launched  Which  bounty  thread available  in bitcointalk  forum  bro..   Now the presell of moon coin is around 1.5 usdt in Uniswap  exchange  site ..  If you are Interest  in it then you can invest your some money Too THERE  for good  profit.  

If that is from DeFi platform, say token not coin 😎 !Well, I am not interested in it but I will give a look at it to check how solid project really is. For now, the craze is enough for Bitcoin and other top rated altcoins. New DeFi platforms and tokens from should be investigated properly before making investments in them. 

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Buying of the Coin is very good thing. If we buy the Coins and just try to hold these Coin we will get the Profit least. Because the Buying and Holding are the Two great things that will give us profit in the form of the money and all about the money.

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So many defi failures were during all this time and millions again lost. But we have to give another chance because the technology is important and if the bugs are fixed and found it will become very important.

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This is the first case where the flagship asset's price exceeded 11 million yen. Digital gold prices also peaked in Argentina, where the leading cryptocurrency reached 63.8 million Argentine pesos, slightly above the maximum on 14 March.   In the Philippines, one bitcoin briefly rose to 4.18 million pesos, the highest since mid-March 2024. In several other countries, BTC prices also equalled or were very close to mid-March's maximum prices: in the UK, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan, and Turkey.   However, the Fed and American macro statistics, having awakened the markets, also calmed them. After strong business activity data in the US, BTC/USD returned to the support zone of $67,000. Another (and probably the main) reason why bitcoin could not update its historical high was its main competitor, ethereum, which drew investors' attention. (More on this below).   QCP Capital expects bitcoin to reach $74,000 and update its ATH (All-Time High) in the coming months. According to the company's economists, institutional acceptance of cryptocurrency is accelerating, and improving conditions in the global economy create conditions for capital inflows into risky assets. The US presidential election, scheduled for 5 November 2024, is also starting to have a strong positive impact on the cryptocurrency market.   Cryptocurrency themes continue to strengthen in the pre-election rhetoric of candidates seeking to gain the votes of the crypto community, which, according to NYDIG, numbers more than 46 million citizens in the US, or 22% of the adult population. Haseeb Qureshi, Managing Partner of Dragonfly Capital, believes that in such a situation, the administration of President Joseph Biden will soon be forced to ease its policy regarding the digital asset industry. A complete turnaround is not to be expected, but a softening of the position will still occur, Qureshi said.   CNN has recently reported on upcoming debates between Biden and his competitor, Donald Trump. The incumbent president will have to answer a number of uncomfortable questions about the harsh policy towards the crypto industry, which led to the outflow of cryptocurrency capital, the closure of large companies, and high-profile lawsuits. From Donald Trump, who turned the topic of cryptocurrency into a weapon against his opponent, in addition to attacks for the current state of affairs, loud pre-election promises can be expected, which could lead to significant volatility in the crypto market. Possible participation of Elon Musk, who expressed willingness to become a moderator, and independent candidate Robert Kennedy Jr., should enliven the debates, the first round of which is scheduled for 27 June, and the second for 10 September.   The main beneficiary of the past week was not bitcoin but ethereum. On Monday, 20 May, news reached the media that the US Securities and Exchange Commission (SEC) asked companies to update Form 19b-4 in applications for launching spot Ethereum ETFs in an accelerated manner. After these news, the financial agency Bloomberg immediately raised the chances of such funds being approved from 25% to 75%. Against this background, the leading altcoin quickly outpaced the flagship cryptocurrency in terms of growth rates.   The deadline for the first two applications from VanEck and Grayscale was Thursday, 23 May. Shortly before the X hour, ETH/USD reached $3,947, showing a growth of almost 30% in three days. According to Coinglass, the amount of liquidations and forced closures of short positions on crypto exchanges amounted to $340 million. A total of 78.8 thousand positions were liquidated, and the largest individual liquidation occurred on the HTX exchange for the ETH/USDT pair for $3.1 million.   The SEC did not disappoint expectations and on 23 May approved not two but a total of eight applications for the issuance of spot ETFs based on Ethereum and gave the go-ahead for trading and listing these funds on exchanges. According to Variant Investments Chief Legal Officer Jake Chervinsky, this step signals a "significant shift in US crypto policy, possibly more important than the ETFs themselves." This may also mean that recognizing ethereum as a commodity, the regulator will not categorize many other altcoins as securities. According to Rekt Capital, the market is already on the verge of an altcoin rally, the peak of which is expected in July.   Experts expect significant capital inflows after the listing of ETH-ETFs and believe that billions of dollars will be invested in derivatives in the first week after trading starts. Analysts from QCP Capital believe that the altcoin rate in the short term can rise to $4,000 and exceed $5,000 by the end of the year.   An even bolder forecast is given by Standard Chartered Bank economists. They expect capital inflows into such funds in the first year to range from $15 to $45 billion (2-9 million ETH). In this case, the fund's demand will lead to the asset's rate rising to $8,000 at a bitcoin rate of $150,000. Moreover, if market dynamics are positive, by 2025, the price of Ethereum will reach $14,000, and bitcoin's rate will increase to $200,000.   As of the evening of Friday, 24 May, BTC/USD is trading at $69,900, and ETH/USD at $3,735. The absence of an immediate pump and some drawdown of this pair on 23-24 May can be explained by the fact that everyone who wanted to has already managed to buy ethereums ahead of the SEC's historic decision. The total cryptocurrency market capitalization is $2.55 trillion ($2.42 trillion a week ago). The Bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has not changed and remains in the Greed zone at 74 points.   And in conclusion of the review, forecasts from Artificial Intelligence. The latest version of GPT-4o from OpenAI believes that the price of bitcoin on 1 August 2024 will be in the range of $76,348 to $89,108 "considering current market factors and historical trends." GPT-4o's competitor, the anthropic AI model Claude 3 Opus, has formed an even more optimistic vision, designating the range between $105,072 and $167,808 by the indicated date. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Там то и тыкать не особо нужно, включил и пускай фармит. Это в других тапалках (и то не во всех) нужно каждый раз тыкать, тут почти пассив 😉
    • Полиция Южной Кореи раскрыла крупную группу криптомошенников   Южнокорейские полицейские арестовали 19 человек, которые выступали участниками мошеннической группы, действующей в социальных сетях. По данным властей, задержанные управляли открытым чатом, через который обманули сотни криптовалютных инвесторов.   Изначально мошенники предлагали пользователям чата законные способы вложений в цифровые активы, используя их некоторые инвесторы даже смогли получить прибыль. Такие действия преступников должны были усыпить бдительность, чтобы в дальнейшем люди без раздумий инвестировали в незарегистрированные криптовалюты. Когда инвесторы поняли, что их обманули, они потребовали вернуть деньги, но мошенники к тому времени уже заблокировали доступ к чату.   В результате расследования правоохранители выяснили, что в сети мошенников попали 308 человек, которые в общей сложности лишились примерно $19 млн.   По данным полицейского управления Южной Кореи, ещё как минимум шесть преступников находятся на свободе, скрываясь в других странах. Интерпол уже получил «красные уведомления», предписывающие арестовать их. Все участники мошеннического чата были завербованы главарём, чьё имя пока не раскрывается. Он помогал им незаконно въезжать в страну, а затем забирал у этих людей паспорта и мобильные телефоны, чтобы принудить к сотрудничеству. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2425428
    • Даа, лучше поздно, чем никогда. Все таки будем вернуть свои ошибки, когда альты тоже будут расти. Но биткоин пока уверенно себя ведёт, я уверен что до конца года дойдет хотя бы до 90к. Эти альты меня так пугали, что с очень осторожностью покупаю их. 
    • Добрый вечер, уважаемые пользователи! Мы работаем ежедневно с 10:00 до 22:00 (МСК)  - Дорогие друзья, напоминаем Вам про #Акцию, дарим бесплатные AML проверки, для этого нужно обратиться в Telegram с сообщением "бесплатная AML проверка". Желаем Всем тем, кто работает - прибыльного и продуктивного дня. А тем, кто не работает - хороших выходных.
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