Everscale Provides Users Clarity on $EVER Token Theft Amid Controversy
In Brief
Everscale clarified that the recent $EVER token theft resulted from fraudulent activities, not a network hack.
Following the recent disturbance surrounding the theft of $EVER tokens, Everscale took to its official Twitter account @Everscale_net to shed light on the situation. Contrary to initial concerns, the company confirmed that the theft resulted from fraudulent actions and not a direct hack of the network or any associated dApps.
Interestingly, the compromised tokens were ERC20 EVER tokens, not the native form of the coin. In response to the breach, partner exchanges have temporarily halted deposits and withdrawals of Wrapped EVER (WEVER). For those seeking more granular details on the matter, information is available on Bithumb and Coinone.
Recent EVER volatility: update
— Everscale (@Everscale_net) October 17, 2023
Friends, so far, we’ve ascertained that the theft of EVER tokens happened as a result of fraudulent activity – the network has not been hacked, nor were any dApps 🫡
The stolen tokens were ERC20 EVER and not the coin in its native form.
Exchanges… pic.twitter.com/HEnuNr1XaO
Native EVER Secure on Octus Bridge
Despite the alarming event, Everscale reassured its users that native EVER tokens remain secure on the Octus Bridge. As for the stolen tokens, the company is thoroughly investigating the incident and promises to share detailed findings with its community shortly.
As reported in our article from yesterday, Octus Bridge announced the theft of a large number of $EVER tokens. The heist led to a notable 20.8% dip in the token’s value, causing anxiety and concern amongst its holders. Our analysis also emphasized the importance of exercising caution and being wary of potential scams that might exploit the situation.
The Impact On Crypto Community
The recent events surrounding Everscale and Octus Bridge underscore the challenges and vulnerabilities inherent in the evolving crypto space. As the investigation continues, the broader community remains hopeful for more clarity and anticipates measures to prevent such occurrences in the future.
As developments unfold, it’s essential to stay informed and cautious. Everscale’s proactive communication demonstrates its commitment to its users. As always, stakeholders are encouraged to stay tuned for more updates and to act with prudence.
Disclaimer
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
