Day: October 7, 2023

Stars Arena hacked as Memeinator token sale gains strength

SocialFi is becoming a fast-growing industry in the crypto sector.

Stars Arena announced a major hack in its ecosystem.

Meminator has raised over $643k in the past few days.

Stars Arena, the fast-growing social app, announced a major attack on Saturday, a day after the developers stopped another one. In a tweet (or X), the developers said that the attack had stolen over $3 million, leaving it with just $1. 

Stars Arena is a new platform that was inspired by Friend.Tech, the social app that has attracted over 100k users in the past few months. While Friend.Tech is built in Base Blockchain, Stars Arena is based in Avalanche. According to DappRadar, Stars Arena has attracted over 20k users in the past few days.

Stars Arena’s performance has helped boost the performance of AVAX. AVAX price surged to a high of $11.88 on Saturday and then retreated to a low of $10.40 after the hack. In a separate tweet, the developers said they had secured the resources to close the gap and is conducting a major security audit.

Important news: we have secured the resources to close the gap caused by the exploit.

Additionally, a special white hat development team is coming in to rapidly review the security of the platform.

We will re-open the contract with all the funds in full after a full security…

— Stars Arena (@starsarenacom) October 7, 2023

Memeinator token sale continues

The other important crypto news of the week was the launch of Memeinator’s token sale. This sale has been highly successful, with the developers raising over $643k, making it one of the fastest-growing tokens in the industry. You can buy the token in either ETH, USDT, or BNB here.

For starters, Memeinator is a new cryptocurrency that seeks to become the biggest meme coin in the world. It aims to disrupt an industry that is now dominated by the likes of Shiba Inu, Dogelon Mars, Floki Inu, and Pepe.

While cryptocurrency prices have retreated in the past few months, most of them like Pepe, Shiba Inu, and DOGE are still worth billions of dollars. 

Memeinator aims to gain utility by incorporating the concept of artificial intelligence (AI). AI has become a major theme in the market after the success of ChatGPT, Google Bard, and Anthropic. 

OpenAI, the parent of ChatGPT, raised $10 billion from Microsoft earlier this year while Anthropic raised $4 billion from Amazon. In total, AI investments have jumped to more than $20 billion this year.

Memeinator will use AI in several ways. For one, the developers will use the technology to power games and other dApps in its ecosystem.

Memeinator will have a total supply of 1 billion tokens. 62.5% of these tokens will be sold in a presale in a 29-stage process, with its price going up in each of this stage. You can read the Memeinator white paper here.

The post Stars Arena hacked as Memeinator token sale gains strength appeared first on CoinJournal.

Friend.tech sees soaring revenue; whales dive deep into Flow & InQubeta

In the rapidly evolving world of cryptocurrency and decentralized platforms, many projects face challenges, both technical and reputational, before they find their footing and begin to thrive. Friend.tech is one such platform that, despite criticisms, is showing its mettle with increasing revenue numbers. 

Simultaneously, big investors or ‘whales’ are eyeing two top altcoins with immense potential: Flow and InQubeta ($QUBE).

InQubeta ($QUBE)

The promise of AI technology is boundless, with innovations cropping up at breakneck speed. Driving this revolution are start-ups, continually pushing boundaries in areas from machine learning to advanced robotics. Yet, the challenge lies in investing in these start-ups, especially for those outside the Silicon Valley bubble.

InQubeta enters the scene with an innovative solution. Offering a platform for fractional investments in AI start-ups through the use of its QUBE tokens, InQubeta democratizes the investment process. For investors, this is not just about profits, it’s also about fostering advancements in AI that can reshape our world.

The QUBE token is a game-changer. As a deflationary ERC20 coin, it’s designed with lucrative features to entice crypto investors. With taxes channelled into a burn wallet and a dedicated reward pool, holding and staking QUBE can yield attractive rewards.

Moreover, InQubeta’s NFT marketplace, powered by QUBE, allows investors to seamlessly invest in AI ventures. Through the minting and trading of trending NFTs, the platform ensures a transparent, democratic, and efficient investment ecosystem.

Investors can find added assurance in InQubeta’s commitment to security and transparency. This is evident from Hacken’s successful smart contract audit and KYC verification by BlockAudit. The ongoing presale further underscores its promise, with over $3.4 million already raised. InQubeta’s roadmap is just as ambitious, with plans to launch an NFT marketplace, the InQubeta swap, and the InQubeta DAO. Furthermore, a cross-chain expansion is on the horizon for 2024, which makes QUBE an altcoin to watch out for in the coming months.

To invest in the project, visit the InQubeta Presale.

Friend.tech surging revenue despite criticism

Friend.tech found itself facing criticism over its revenue model. For many decentralized platforms, revenue generation can often become a point of contention, especially if the model seems unconventional or unsustainable.

However, in the case of Friend.tech, its revenue model has not only withstood the criticisms but also thrived. A significant catalyst behind this success is the deployment of Sniper Bots. These bots, numbering over 450, have generated impressive profits surpassing $5.9 million. This accounts for an astounding 34% of Friend.tech’s total revenue. Such figures clearly showcase the efficacy of the platform’s algorithms, solidifying its potential among top DeFi projects.

Flow becoming an NFT and DApp powerhouse

Flow has been making waves as a blockchain-based decentralized ecosystem catering specifically to interactive experiences, decentralized apps, and blockchain-oriented games. The Flow network’s primary objective is to offer a scalable environment conducive to swift transactions minus the congestion woes.

But what’s unique about Flow is its approach towards popular NFTs, treating them as unique collectibles, each with distinct values. As the NFT craze continues to dominate, platforms like Flow that offer a seamless environment for their creation and trading will inevitably be at the forefront of this digital revolution.

Conclusion

While the crypto space sees countless new entrants each day, not all are poised for success. However, platforms like Friend.tech, Flow, and InQubeta offer unique propositions that set them apart. 

As Friend.tech demonstrates resilience and growth amidst criticism, and as Flow carves its niche in the NFT space, InQubeta stands tall, embodying the promising convergence of AI and blockchain. Together, these platforms exemplify the diverse potential and avenues of growth within the broader crypto ecosystem.

For more information on InQubeta, you can visit InQubeta Presale or join The InQubeta Communities

The post Friend.tech sees soaring revenue; whales dive deep into Flow & InQubeta appeared first on CoinJournal.


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