Ethereum News Daily Official TheBitTimes.com

Polychain Capital, a firm concentrating on cryptocurrency investments, has confirmed that the X account of its founder and CEO, Olaf Carlson-Wee, has been hacked . The breach was uncovered on Jan. 4 when Carlson-Wee’s account started promoting a fake airdrop for Polychain’s native token, PCHAIN. The hacker claimed the airdrop was part of Polychain’s New Year celebration, with the post including links that led to a phishing website. However, soon after Polychain discovered the breach, it put out a statement acknowledging the hack and warning users against interacting with Carlson-Wee’s X account until further notice.  Important Notice: Olaf’s personal twitter (@zxocw) has been compromised. Please do not engage with this handle until further notice. — Polychain (@polychain) January 4, 2024 The account , with more than 19,000 followers, has reportedly been retrieved, and the offending post deleted — but not without more than 40,000 X users viewing it. It is yet to be dis...

Volumes at Synthetix surpassed its nearest DEX competitor, but contracting user activity across decentralized exchanges could be a red flag. Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix (SNX) token has encountered resistance at the $2.50 level after gaining around 10.3% in the last seven days, per CoinGecko data. On the other hand, GMX and dYdX are experiencing a decline in trading activity, while their native tokens are eyeing bearish targets based on technical levels. OP incentives drive Synthetix volumes Synthetix offers perpetual futures contracts on layer-2 rollup Optimism via a decentralized application called Kwenta. The Synthetix community approved a p...