One of the MetaMask wallets of Serenity Shield was hacked by unknown hackers.
Serenity Shield is a data storage solution platform which has a decentralised application called StrongBox. StrongBox uses blockchain technology to protect privacy. The Serenity Shield (SERSH) token is the native token of this platform. The trade price of this token crashed 64.5% in the last 24 hours, following very bad news regarding this platform.
To save the SERSH token holders from big losses, the backend team responded to this matter with full clarity and ensured that they would handle the situation perfectly.
The SERSH team said that an unknown hacker drained 7 million SERSH tokens from one of the hot MetaMask crypto wallets.
Following a huge discussion with investors & advisors, the team decided to launch a new version of this token with a new smart contract.
Now it will be interesting to see whether the SERSH team will succeed with its new token launch plan or not, as it was a data security platform but failed to protect its own wallet private key details.
In the last 2 years, the majority of the hackers targeted mainly crypto-related platforms. In particular, 80% of the cyber attacks in the crypto sector were associated with the DeFi crypto platform.
In this era of the crypto sector, the majority of crypto investors want 100% safety of their funds but they rarely feel safe with DeFi crypto exchanges.
In 2023, many people shifted their crypto trading activities to the decentralised crypto trading platform, as the majority of the centralised crypto exchanges were struggling financially.
Top leading crypto exchanges e.g. Binance, Coinbase, Kraken, and Bittrex faced intense regulatory pressure in the US.
Read also: Former FTX employees raise funds to establish a new crypto exchange