Telegram Vulnerability Alert and Crypto Market Predictions: Upcoming Sale and Rise of Memecoins
Summary:
A blockchain security firm, CertiK, has alerted Telegram users about a potential vulnerability exposing them to cyber attacks. BitMEX co-founder Arthur Hayes predicts a potential rush sale of crypto assets in late April due to the Bitcoin halving and pressure on dollar liquidity. Andrew Kang, a crypto venture capital founder, has suggested the next wave of memecoins could potentially overshadow established names like Dogecoin and Shiba Inu in the current market cycle.
Telegram's userbase has been cautioned about a discovered weakness in the system that could predispose them to cyber attacks, as reported by a blockchain security company. In related news, the impending Bitcoin halving coupled with the pressures on dollar liquidity could instigate a hasty disposal of crypto assets throughout the latter part of April, speculates BitMEX joint founder Arthur Hayes. Concurrently, a fresh meme coin trend may potentially disrupt renowned names like Dogecoin and Shiba Inu within the ongoing market cycle, suggests data from CryptoQuant.
According to a fresh revelation by CertiK, a blockchain security company, a significant security loophole on the Telegram platform is leaving its users susceptible to harmful cyber activities. On April 9, CertiK issued a public caution via social media platform X regarding the detection of an "in-the-wild, high-risk vulnerability" that may enable hackers to engage in a Remote Code Execution (RCE) attack by exploiting Telegram's media processing. Images and videos that have been maliciously manipulated could expose unsuspecting users to harmful activities, states the company. In order to safeguard against this vulnerability, the company advises users to change their Telegram Desktop configurations by disabling the auto-download feature.
The upcoming Bitcoin halving, coupled with strategies deployed by the Federal Reserve and Treasury, could ignite hurried disposal of crypto assets, warns BitMEX's co-founder, Arthur Hayes, potentially causing a slump in the crypto market for an extended period. In his opinion piece from April 8, Hayes predicted that while the halving event could boost bitcoin prices over time, the impact could be detrimental to crypto prices immediately before and after the event. The notion that halving will be beneficial for crypto prices is deeply ingrained in the market; however, Hayes’s view is that events will likely unfold contrary to popular belief. The cornered dollar liquidity and the influence of the policies of the US Federal Reserve and Treasury on the market could cause Bitcoin and general crypto prices to tumble.
On another note, according to Andrew Kang, the founder of Crypto venture capital, the current market cycle could see memecoins playing a significant role. Kang, who penned his thoughts on platform X on April 7, sees memecoins as "culture coins", predicting that these types of tokens could overthrow Dogecoin (DOGE) and Shiba Inu (SHIB) popularity-wise. He noted that tight-knit communities that proudly display their identities could naturally inspire others to adopt their beliefs, thus creating a viral wave. Network Solana has become a popular platform for launching memecoins, with coins such as Jeo Boden (BODEN) and Doland Tremp (TREMP) gaining substantial popularity recently.
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Journalistic contributions made by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
4/9/2024 3:30:13 PM
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