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The new CFO, Matthew Commons, had several years of crypto and TradFi experiences.

A sum of crypto worth $8.6 million has likely been stolen via the Algorand wallet MyAlgo, according to the Algorand developer collective D13 on February 27.

An Algorand (ALGO)-based crypto wallet that was recently hit with a nearly $10 million attack is now urging users to withdraw their digital assets. MyAlgo, a leading Algorand wallet gateway, tells its Twitter followers to withdraw any funds held in Mnemonic wallets.

The wallet provider is yet to identify the root cause of the exploit, which led to the theft of $9.6 million worth of assets.

Proof-of-stake blockchain cryptocurrency protocol Algorand is urging users to withdraw their funds from MyAlgo wallets. This is as MyAlgo, the native wallet provider for Algorand, reported Monday (Feb. 27) that an ongoing exploit has seen $9.6 million worth of customer funds so far stolen from the open-source, payments-focused blockchain network.

The Algorand Foundation's CTO said the exploit was “not the result of an underlying issue with the Algorand protocol or SDK.”

MyAlgo, a wallet for blockchain protocol Algorand, has advised users to withdraw funds it was struck by an exploit last week.

MyAlgo, a wallet provider for the Algorand Network, has warned its users to withdraw their funds amid an exploit that saw nearly $9.2 million stolen. The warning was extended to users with funds in Mnemonic wallets that were stored in MyAlgo.

On the daily chart, Algorand (ALGO) was struggling with the crucial $0.28 level. When the price fell below this level in November 2022, it took on a life of its own.

ChangeNOW, a non-custodial crypto exchange, reported that its AML system flagged and halted suspicious ALGO token and USDC stablecoin transactions worth about $1.5 million in total. According to ChangeNOW, its risk-prevention and anti-money laundering system detected $1.5 million in suspicious transactions on February 19 involving ALGO tokens and Algorand-based USDC stablecoins, thus preventing the funds from being laundered and lost forever until further investigations could be carried out.

Ethereum is the most widely used and emblazoned chain, but even Vitalik Buterin himself knows that it is a slow network and more expensive than others.

Our Algorand price prediction suggests that price can surge by 60% in the coming weeks if Bitcoin price shows strength.

Data from DeFi Llama shows that Algorand's (ALGO) TVL rose by 150% since the start of 2023. Previously at $73 million, the network's total locked value topped $187 million at press time.

The Algorand (ALGO) trend is bearish until the price reclaims the ascending support line.

Key Points: Rand Gallery, the Algorand blockchain's largest NFT marketplace, has acquired the data aggregator NFT Explorer to expand its product offering with analytics.

The largest NFT marketplace on the Algorand blockchain acquired NFT Explorer to own "the complete vertical NFT stack."

Coinbase CEO Brian Armstrong says he's heard rumors the U.S. Securities and Exchange Commission would like to ban retail investors from engaging in cryptocurrency staking. Algorand Foundation CEO Staci Warden discusses what this could mean for crypto stakers, as Kraken shut its staking services as a part of its SEC settlement.

Our Algorand price prediction suggests that the price could surge by more than 80% if it flips the $0.28 level into support.

Staci Warden says crypto-native firms are being punished rather than given guidance.

Algorand Foundation CEO Staci Warden joins Yahoo Finance Live to discuss Algorand, managing personal finance using blockchain technology, and the outlook for AI optimization.

Bitcoin (BTC) and ether (ETH) are both trading down after Stablecoin issuer Paxos announce it will stop minting new Binance USD (BUSD) tokens following the threat of legal action from the U.S. Securities and Exchange Commission (SEC). Tastycrypto Head of Digital Assets Ryan Grace weighs in on the market impact.

Since reaching an all-time high of $2.99 in November 2021, the price of Algorand (ALGO) fell below a descending resistance line. The lowest price reached was $0.16, and from there, ALGO began an upward movement.

Algorand worked with Hyderabad-based innovation hub T-Hub to assist companies access global financing.

The Algorand (ALGO) future trend can be determined by whether the price breaks out above the current resistance