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The Bitcoin bulls are looking to push the price toward $60K as some altcoins are charting impressive gains.

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

In a recent incident, Bittensor, a prominent AI-focused project, was forced to suspend its network operations following a series of wallet hacks, resulting in a loss of at least $8 million worth of TAO, Bittensor's native token. This incident comes just a month after another wallet breach that led to a loss of $11 million.

The Bittensor network has been forced into a shutdown following the discovery of a significant security breach. This emergency measure has sent shockwaves through the cryptocurrency community, with the TAO token suffering a steep price decline.

Bittensor, a decentralized AI network, experienced a severe security breach on July 2, which resulted in the theft of $8 million worth of TAO tokens.

Bittensor (TAO), a blockchain project pioneering the integration of machine learning models, recently found itself at the center of attention not for its technological advancements, but due to a severe security breach that rocked its ecosystem and sent shockwaves through the cryptocurrency community.

The Opentensor Foundation, the development team behind the Bittensor chain, has tackled a recent security breach affecting the network, impacting several community members. The foundation insisted that prompt actions were implemented to mitigate the attack and prevent future incidents. Malicious Package on PyPi Triggers Security Breach on Bittensor Chain On July 2, at 7:41 p.m.

In a post-mortem, the Opentensor Foundation said the attack on Bittensor user wallets was traced back to a malicious package upload.

Bittensor's TAO token has experienced a significant drop in value following a major security incident. On July 3, 2024, Bittensor developers halted the blockchain after discovering a massive exploit targeting several user wallets, leading to a substantial loss of funds.

OpenTensor Foundation (OTF) has proposed burning 10% of the Bitttensor (TAO) supply to stabilize the token's price in response to a recent exploit that led to the loss of $8 million worth of the tokens. The decentralized AI network has put forward a vote for users to decide on the burn.

The world of cryptocurrency took another blow this week as Bittensor, a prominent AI-focused project, was forced to halt its network after a series of wallet hacks. Investigators suspect a private key leak may be to blame, raising concerns about the security of the entire crypto ecosystem.

Bittensor halted its operations on July 3 following a major security breach that led to the theft of over $8 million in cryptocurrencies.

According to reports, the Bittensor (TAO) blockchain was paused due to the depletion of funds from several wallets. The final block was processed 14 hours ago, and the network is now in safe mode, as stated by the Opentensor Foundation. TAO Network Paused for 14 Hours Due to Massive Wallet Thefts At 9:47 p.m.

Two cryptocurrencies have made the headlines in the last 24 hours and are trending with a dominating negative sentiment. In particular, cryptocurrency investors should avoid Polkadot (DOT) and Bittensor (TAO) this week amid looming fear, uncertainty, and doubt (FUD).

Many are questioning why the value of the Bittensor (TAO) ecosystem has plummeted after recent turbulence in the blockchain project. Investors and enthusiasts have expressed serious concerns due to TAO's price sharply dropping 15% after a significant security breach.

The Bittensor team detected suspicious activity on Wednesday morning, prompting an immediate suspension of all network operations. Blockchain explorers confirm that no new blocks have been generated for over six hours, effectively putting the network in “safe mode” and blocking all transactions.

All user funds are safe following the network halt, according to Bittensor's team.

Decentralized AI network Bittensor paused blockchain transactions after its users' wallets suffered an exploit that caused the loss of $8 million worth of assets. Earlier today, blockchain investigator ZachXBT told his Telegram Channel members that a Bittensor user was drained of 32,000 TAO, worth $8 million, because of a leaked private key.

As an aftermath of the attack, TAO dropped by 15%, reflecting that holders have entered a panic mode.

Blockchain startup Bittensor has temporarily halted its network due to a private key leak, causing the network's token to drop by 16%.

Approximately $8M worth of TAO, about 32,000 native Bittensor tokens, was stolen, causing a 17% decline in the token's value.

The Bittensor blockchain team detected an attack on several user wallets, temporarily halting the system. Unfortunately, one wallet was drained of $8 million worth of the project's TAO tokens.

Decentralized AI project TAO of Bittensor ceased the operation of its blockchain network after a breach affected several users' wallets. Following this, on-chain analyst ZachXBT was reporting thefts likely to have occurred due to leaked private keys.

The blockchain was paused early Wednesday to contain the exploit, with security researchers suspecting a private key leakage.