Wall Street Memes, a project behind the $WSM coin and WSM Casino has suffered an attack on its network. In a blog post, the team behind the project confirmed the hack, describing it as a “coordinated attack.” According to the team, the attackers compromised the staking provider of the project to access $WSM’s staking contract.
To manage the attack, the Wall Street Memes team pulled liquidity from Uniswap. In addition to this, the team asked other exchanges to halt the trading of $WSM their platforms, thus, making it difficult for the attackers to sell the stolen tokens. These actions also helped to limit the impact of the attack on $WSM.
In the next few days, the Wall Street Memes team aims to deploy an upgraded token contract. As revealed, this token contract will propel the creation of a new staking pool which carries the information of this present token contract. This means that users will still have all their staked tokens intact.
Everything you need to know about Wall Street Memes
Don’t forget that $WSM, the native token of this community project made its market debut last year after a successful presale. Then, the meme project netted over $25 million in early investment, thanks to the huge support from its well-established community. Following the presale, $WSM attracted prominent crypto exchanges like OKX and was tipped to get listed on others in the future.
However, before launching the $WSM token, Wall Street Memes is renowned for its innovative and humorous memes on social media platforms like Twitter and Instagram. The team behind the project believes in the powers of memes to drive innovations into the crypto industry. Some of its memes feature popular tycoons in the crypto world, including Changpeng Zhao, Elon Musk, Nayib Bukele, and more.
In 2021, the Wall Street Memes team made its first entry into the NFT market after launching its red-hot collection, Wall St Bulls on OpenSea. The NFT, according to findings, sold out within 30 minutes, bringing over $2.5 million for the team. Aligning with the latest market trends, the team has also tapped into the potential of Bitcoin ordinals, launching its Bitcoin ordinals NFTs.
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