Ethereum

Serenity

Shield

In the ever-evolving cryptocurrency industry, numerous scams and <a href="https://news.todayq.com/security-breach-impacts-sushiswap-zapper-and-balancer-dapps/" rel="noopener noreferrer nofollow">illicit activities</a> have emerged. On February 27, 2024, Serenity Shield, a company specializing in security solutions for digital inheritance, fell victim to a massive attack on its wallet, causing a massive loss. Serenity Shield’s wallet compromise 
According to Serenity Shield’s post on X (previously Twitter), one of itsMetamask wallets was compromised, resulting in the transfer of 7 million SERSH tokens worth around $5.7 million to an unknown third-party wallet. Following this massive attack on Serenity Shield’s wallet, the SERSH token price dropped by 94.5% as of writing. 
Additionally, after this attack, Serenity Shield has currently suspended all trades, deposits, and withdrawals from the Centralised Exchange (CEX) to prevent any further uncertainty. However, the blockchain security firm PeckShieldAlert recently posted on X, highlighting that the stolen funds have been swapped for 587,000 $BSC-USD and are now sitting in the wallet address labeled “Serenity Shield Hacker 2.
After the massive attack on Serenity Shield, as per its post on X, they have decided to relaunch the SERSH token with a new token smart contract. Additionally, they mentioned that this decision aligns with the commitment to responsibly safeguard the interests of our community and minimize exposure to security incidents. Impact of Serenity Shield on crypto market 
As of now, the SERSH token is trading near $0.04, and in the last 24 hours, it experienced over a 94% price drop. If we look at the performance of the SERSH token in the last 7 days following this incident, it experienced a massive price drop of over 93%. According to CoinMarketCap, it has been observed that the 24-hour volume also surged by 10%. Whereas, the current market cap stands near $510k.
However, following this incident, other top cryptocurrencies like Bitcoin and Ethereum haven’t experienced any price drop or impact on their prices. Currently, Bitcoin is trading near the $57,150 level, and it experienced a nearly 2% upside momentum. Whereas, Ethereum is currently trading near $3,260, and in the last 24 hours, it experienced nearly a positive 0.2% upside momentum.
Currently, the overall cryptocurrency realm is bullish, and investors as well as traders are making their big bets on Bitcoin and Ethereum. In the last 7 days, both of these top cryptocurrencies experienced a massive surge of over 10%.
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Serenity Shield’s SERSH token plunges 95%, Here’s how

Todayq News

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