Ethereum

Token

Convex Finance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/hacking-strikes-convex-finance-wallet-resulting-in-significant-beam-token-theft" rel="noopener noreferrer nofollow">Hacking Strikes Convex Finance Wallet, Resulting in Significant BEAM Token Theft</a><br></p>
<p style="text-align: justify">An alarming <a href="https://en.bitcoinhaber.net/lazarus-groups-notable-bitcoin-movements-and-ongoing-regulatory-responses" rel="noopener noreferrer nofollow">security</a> breach at Convex Finance has led to the theft of 180.25 million BEAM tokens from the wallet of a user known as kirill.eth, following a phishing attack. The event, occurring on February 15, has led to a noticeable slump in BEAM’s market price, drawing the attention of crypto investors and analysts alike.</p>
<h2 id="beam-s-market-value-plummets-after-theft">BEAM’s Market Value Plummets After Theft</h2>
<p style="text-align: justify">The aftermath of the theft was immediately evident as the cybercriminal liquidated the BEAM tokens for roughly 1,629 Ethereum (ETH). As a consequence, BEAM’s value experienced a 7% downturn, equivalent to a financial hit of nearly $5.14 million.</p>
<p style="text-align: justify">In tandem with the price decline, derivative market data for BEAM portrayed a souring market mood. According to Coinglass, open interest in BEAM plummeted by over 10%, hinting at investor wariness. However, a spike in trading volume for BEAM indicates a potential stabilization phase might be on the horizon.</p>
<p style="text-align: justify">The ripple effects of the phishing attack have sparked debates and concerns about the future market behavior of BEAM. The crypto community now keeps a vigilant eye on the unfolding situation, gauging its implications for the broader market and investor sentiment.</p>
<p style="text-align: justify">Despite the current cautious stance held by some market analysts, the episode has raised questions about the altcoin’s security measures and its susceptibility to further exploits.</p>
<h2 id="beam-s-price-trend-in-the-wake-of-theft">BEAM’s Price Trend in the Wake of Theft</h2>
<p style="text-align: justify">Recent figures from CoinMarketCap underscore the adverse impact on BEAM’s valuation post-hack. The cryptocurrency is currently trading at a decreased value of $0.02675, marking a 9.34% decline over the past day.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/hacking-strikes-convex-finance-wallet-resulting-in-significant-beam-token-theft" rel="noopener noreferrer nofollow">Hacking Strikes Convex Finance Wallet, Resulting in Significant BEAM Token Theft</a></h5>

Hacking Strikes Convex Finance Wallet, Resulting in Significant BEAM Token Theft

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