SafeMoon, a cryptocurrency project endorsed by celebrities like Jake Paul and Soulja Boy, announced that its liquidity pool was compromised, but did not provide further details about the attack. The company said it was taking steps to address the issue. SafeMoon was reportedly backed by celebrities who allegedly misled investors to purchase SafeMoon tokens under the pretext of unrealistic profits. The recent hack resulted in the theft of approximately 27,000 BNB, worth $8.9 million. Blockchain investigator Peckshield suggested that a recent software upgrade may have introduced a bug that allowed the attacker to remove SFM tokens, causing an artificial spike in the token's price. Until SafeMoon announces a resolution, investors are advised against investing in the project to avoid possible loss of funds.
(By ARIJIT SARKAR)
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