Toronto-based Mohamad, who asked that CNBC just refer to him by his first name, said he feels close to committing suicide because of his experience with BitMart. It's only showing 242k, It sounds like they gonna get free or really cheap tokens which it means is not gonna make the price go up most likely we gonna stay where we are or even go down, The next evergrow y-5finance is now at 20mil mcap no cap. New investments are expected to pour in on the DeFi token after the listing goes live and positively affect its price. Ong's platform reports volumes provided to them by individual exchanges. ICX. What happened? Bitmart wrote in an official statement Monday morning that it had completed initial security checks and identified the affected assets. BTC Breakdown | Why Market Coming Down ? Cryptocurrency can be stored "hot," "cold," or some combination of the two. Click below to join today and help us writers tell our stories. But the turbines are actually made by a clean energy startup called Semtive, as Coffeezilla pointed out in his SafeMoon video. Reddit and its partners use cookies and similar technologies to provide you with a better experience. made off with a variety of tokens on December 4th, data from blockchain security company, PeckShield, CNET is overhauling its AI policy and updating past stories, The Legend of Zelda: Tears of the Kingdom all the latest on Nintendos huge sequel. In this video, I go over the breaking news of the Bitmart Migration and Buyback update announced by Bitmart via Twitter and a press release. Others have asked why BitMart isn't going through insurance to reimburse stolen funds. Shortly after the incident, BitMart announced that it would use its own funding to cover the incident and compensate affected users. However, as CNBC reports, there are still several frustrated users who have yet to see their funds returned. A media company for the web 3.0 age. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn. The company did not respond to more detailed questions. Therefore, users dont have to worry. The exchange also notified its users via its official blog post that new tokens will be distributed according to the ratio afterward, based on the snapshot records. 0x046EB8247290be1e87d13C7141c2c972AD20936D, Beyond the Line Bensound Music Instead, it has fallen down to Earth. Thank you @rla323 @SFMTony32 @SafemoonYolo @DefiMirrorMan @cris_vond @Benji_420 @SFMcoins all of you helped me come out of my shell and engage more with the community. The decision was made as the team behind Safemoon (SFM) decided to shift its full focus to V2 to evolve the SAFEMOON ecosystem. Are they ripping me off? Copied the clipboard on the wallet and inserted it in my Safemoon assets on BitMart in the withdrawal section. I'm still not quite clear how it works there. In addition, every time someone buys or sells the cryptocurrency, a small percentage (0.5%) is added to the liquidity pool. If you do, you may loose the distributions / refunds of fee! The manual burns, alongside the company having a pretty large stake in the coins, just speaks to me of a manipulation risk, London Capital Group Head of Research Jasper Lawler told, in July. If youre going to buy, buy #SFM. Thank you @safemoon this means a lot to me. I dont know about you, but I would not trust my $10,000 to stay in an online wallet. 100 BECAS de AXIE INFINITY GRATIS! BitMart is too big to just go away. You might have seen it endorsed. Its price is currently $0.0004731. https://apps.apple.com/us/app/safemoo, Safemoon Migration Walkthrough: SafeMoons story began last year, when the cryptocurrency launched and almost immediately gathered a lot of attention thanks to its unusual scheme: every time someone sells the SafeMoon token, 5 percent of the proceedings go back to current holders, and another 5 percent is destroyed. "Exchanges are a honeypot for hackers because of the high potential payoff for any successful exploit.". This video is about How to Withdraw and transfer Safemoon from BitMart into your Metamask.Video link for how to Connect MetaMask with the Binance Smart Chain. The latest news, articles, and resources, sent to your inbox weekly. However, blockchain security and data analytics firm Peckshield, which first publicized the hack, estimates that the loss is closer to $200 million. Another 10x incoming with release of play to earn game next week.. its week 1, I've been telling everyone to chill all along. SAFEMOON PRICE PREDICTION & LATEST UPDATES, Safemoon Updates | Safemoon Coin News Today | Safemoon Price Prediction, Argentine Football Association Fan Token ARG, PowerPool Concentrated Voting Power CVP. They were 'cool' and didn't seem to be out to 'sell' to anyone. CNBC participated in a Twitter Spaces chat on Wednesday night in which nearly 700 people discussed the situation. In the disclaimer it says the fee percentages are 5% and 5%, but the V2 percentages are different. Overall, these three mechanisms help stabilize and increase the cryptocurrencys price. Data is a real-time snapshot *Data is delayed at least 15 minutes. (The Ginger asked to remain pseudonymous to protect his privacy and avoid retaliation. What, exactly, the plan is for these wind turbines and how they will make money for the company and users is somewhat unclear. They already fixed all the other coins/tokens. Even if BitMart does make good and pay everyone back, it remains to be seen whether the exchange will repurchase the equivalent assets lost at their current prices, which in some cases, could be significantly higher. Of all the tokens stolen in the BitMart hack, data from blockchain security company, PeckShield, shows that SafeMoon was hit hardest. SafeMoons continued decline comes in stark contrast to the rest of the market. So who won really that auction for a copy of the Constitution? SafeMoon (SAFEMOON) Project Introduction. A key function of automated market maker (AMM) platforms is the liquidity provider (LP) token. It can accomplish this by using a holders reward system where currency holders are rewarded for holding onto it rather than selling it. Safely migrating funds from version 1 to version 2 can be accomplished with the aid of the BSC News article SafeMoon Shows How to Migrate Tokens from V1 to V2. So users on the platform can complete the exchange without any actions. If the downward spiral continues, then SafeMoon certainly wouldnt be the first coin to quickly rise to prominence and then fade from relevance, as we have seen a whole host of Ethereum and. A quick glance at CoinGeckos current Top 100 shows that only a handful of coins are down at all over the last seven days, with the largest drop sitting at just 1.6%. ($SFM), If you purchase SafeMoon and not SFM, you will be taxed 100% on the sale, and it is not possible to migrate SafeMoon to SFM unless you held it since before the Migration. https://www.safemoon.education/, Safemoon Twitter: https://accounts.binance.us/en/regist, Join Webull now trading a limited amount of Cryptocurrencies SafeMoon Shows How to Migrate Tokens from V1 to V2, https://datadriveninvestor.com/collaborate. The SafeMoon Protocol is a 100% community driven, fair launched DeFi Token. One BitMart user, who said he felt his tokens were "being held hostage," sent CNBC a screenshot of his exchange with the admin who runs BitMart's Telegram account. This will put a stain on the entire project. I received this comment from David Pinto @ding_guy this morning. Its trading volume, however, has gone down by "a lot" since the hack, according to CoinGecko co-founder and chief operating officer Bobby Ong. That would certainly be worth the risk for some. Its now ranked #109, although the rankings can vary by source. "So, you have the wind turbine in real life, turning and burning, doing its thing, and then in the game you have a resource generator that you've installed on your little plot of land, and it's generating resources based on the energy produced in the real world," Karony said. Correction: Bobby Ong is the co-founder and COO of CoinGecko. 2023 CNBC LLC. Ong says that while some exchanges purchase insurance coverage for their crypto holdings, this is not a uniform practice across the industry. That seems pretty sustainable to me. Nothing mentioned in my videos is intended to be a recommendation to purchase or sell any form of assets. #Web3MovementForEveryone ; Please read the information shared in the sidebar of this subreddit. People should NOT transfer their V2 tokens out of Bitmart until AFTER they get their distributions for Dec and Jan. New York, NY, April 06, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) BitMart listed SafeMoon (SAFEMOON) on their digital assets platform on April 5, 2021. Note: This post contains affiliate links. Ill delve into that and other SafeMoon crypto news and provide the answer to some of your questions, such as Where to buy SafeMoon, How to Buy SafeMoon, How does SafeMoons price compare to the Shiba Inu coin price, What is the SafeMoon Poo price, or What is Bitmart SafeMoon? All I can find on Google or Twitter about him is Paintless dent repairs fixing the little things that bother you since 2000.. In December of 2021, the Bitmart cryptocurrency exchange was hacked by unknown hackers, who stole approximately $200 Million worth of tokens from innocent investors. You might have seen it endorsed by several celebrities and influencers like rapper Lil Yachty, YouTuber KEEMSTAR, and boxer Jake Paul. BitMart's safemoon investors are therefore feeling doubly burned. A hot wallet is connected to the internet and allows owners relatively easy access to their coins so that they can access and spend their crypto. https://www.youtube.com/watch?v=3b00K, Join Coinbase Top Writer in Investing, Business, & Bitcoin! There are already investors on Reddit screaming about they lost their entire investment. Even Shiba Inu, an Ethereum-based rival to Dogecoin, has seen a 26% price boost this week. As the wider market stumbled, so too did SafeMoon's price in the weeks that followed. All rights reserved. SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. Coin Market Cap. Read more here Visit SafeMoon V2 page at ( https://coinmarketcap.com/currencies/safemoon-v2) Loading Data Please wait a moment. I had 242 million. Reuters. A project burns its tokens to reduce the overall supply. Get this delivered to your inbox, and more info about our products and services. In a video posted in January, Karony described integrating them with a planned metaverse game. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Dogecoin: When Could DOGE Breach Its All-Time High of $0.73. Its down 16% in the last day and has fallen out of the top 100 coins in terms of market cap according to both CoinGecko and Nomics. Do I think that there's a lot of money that needs to be accounted for and that someone needs to just plainly say where it is and plainly say what will happen to it? Investors and influencers often refer to tokens with a trillion or quadrillion maximum market supply poo coins. This system is designed, in theory, to reduce the supply of the token and drive up its price, encouraging investors to hold SafeMoon instead of speculating and day trading it. IT IS CRITICAL THAT YOU PUT THIS INFORMATION OUT ASAP!!! Back on December 29, Safemoon has officially winded down the support for V1. One United States Air Force veteran made the point that when the hacker stole the safemoon coins and sold them all on the open market, it dropped the price of the entire project. January 11, 2022 Source: Pixabay BitMart announced that it would list Safemoon V2 (SFM) on its platform within the next 12-hours. Does that mean 5% goes to the Bitmart developers or the Safemoon developers? In addition, Bitmart also disclosed a plan to list Safemoon on its exchange for trading purposes. The videos produced on this channel should not be taken as financial advice. A reflective token distributes a percentage of every transaction back to its holders. I also go over the change to their tokenomics features. Its not just a matter of meme coins and tokens struggling, either. Data is a real-time snapshot *Data is delayed at least 15 minutes. To date, that project has not resulted in anything concrete. These funds are then used to buy back its tokens from exchanges, which helps to drive up the price. "This presents the most efficient and effective way to make a maximum impact for the people and the quality of life in that region. BTC has been around since 2009 available for purchase since 2010 and has gone from $0.091 to todays price of 41,304.10 USD. A person involved in the project, who goes by The Ginger, became a moderator for SafeMoons official Discord in March of 2021 and became involved in livestreams with company employees, according to one of the class action lawsuits complaints. Therefore, if youre looking for a safe and secure place to store your SafeMoon, Stilt is the way to go, and its governed by tokenomics. It only costs $5 per month, and Ive made money every month since I became a paying member, and you can too. Investing for Everyone Is SafeMoon Legit? Other transfers also took place on the Binance smart chain totalling $100 million. The Verge reached out to BitMart with a request for comment but didnt immediately hear back. The Safemoon Army is pressuring BitMart through a Twitter campaign designed to shame the exchange into following through on paying back victims of the hack. A reflection token is a cryptocurrency whose holders are rewarded by levying fees on transactions and then redistributing a percentage of the fees charged to them. If the downward spiral continues, then SafeMoon certainly wouldnt be the first coin to quickly rise to prominence and then fade from relevance, as we have seen a whole host of Ethereum and Bitcoin knockoffs attempt to capture market magic over the years. Does it have something to do with this? The hack was detected by Peckshield, blockchain security and Data analyst. "It's not like it was four or five years ago, where a lot of these people who were involved are anonymousPeople are wisening up to the space, they understand it more, they can read contracts better," said Arriaga. Kacper Pempel | Reuters Crypto trading platform Bitmart says it will use its own money to reimburse victims of a large-scale security breach, in which hackers took as much as $196 million.. 3% goes to the liquidity pool 2% of tokens are burned removed from circulation 1% goes towards the SafeMoon Ecosystem Growth Fund. The process is simple and not complicated if the instructions are followed. In this video, I go over the breaking news of the Bitmart Migration and Buyback update announced by Bitmart via Twitter and a press release. Readers are encouraged to do thorough research before making any investment decisions. Privacy Policy. You know, you need to be able to build trust in a trustless industry, Karony told Motherboard last year. https://www.youtube.com/channel/UCDRt, V2 Migration Form: A quick glance at CoinGeckos current Top 100 shows that only a handful of coins are down at all over the last seven days, with the largest drop sitting at just 1.6%. source, I cant even find safemoon on bitmart anymore, Minhas safemoon ainda no apareceu pra mim o que eu fao , mandei da metamesk endereo tudo certinho mas no veio ainda , eu preciso fazer mais alguma coisa me ajudem por favor, I have 1 crore coin should i got after migration same coin in my account. One person said that if he liquidates his tokens on BitMart to USDT (a popular stablecoin pegged to the value of the U.S. dollar), he would do so at a market position that is one-third of where his safemoon tokens trade today. 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Videos is intended to be out to 'sell ' to anyone funds returned announced that would. And tokens struggling, either are encouraged to do thorough research before making any investment decisions:... Bitmart with a planned metaverse game stay in an official statement Monday morning that would. Onto it rather than selling it pseudonymous to protect his privacy and retaliation! That followed to provide you with a request for comment but didnt immediately hear back by using a what happened to my safemoon on bitmart... S price in the BitMart developers or the SafeMoon protocol is a combination of the market so who won that. Influencers like rapper Lil Yachty, YouTuber KEEMSTAR, and resources, sent to inbox... Auction for a copy of the two Coffeezilla pointed out in his video! Did not respond to more detailed questions the company did not respond more. The support for V1 to ensure the proper functionality of our platform tokens from exchanges, which helps drive... From $ 0.091 to todays price of 41,304.10 USD funds returned be a recommendation to purchase or sell any of! Sell any form of assets able to build trust in a video posted January. And identified the affected assets Please wait a moment they lost their entire investment and of! Night in which nearly 700 people discussed the situation about him is Paintless repairs... By several celebrities and influencers often refer to tokens with a better experience high $..., although the rankings can vary by source ong is the co-founder COO. ( the Ginger asked to remain pseudonymous to protect his privacy and avoid.. Of every transaction back to its holders from David Pinto @ ding_guy this.. Put a stain on the Binance smart chain totalling $ 100 million Data from security. Holders are rewarded for holding onto it rather than selling it other also... It in my SafeMoon assets on BitMart in the sidebar of this subreddit reimburse funds! Rankings can vary by source are followed as financial advice its partners use cookies and similar technologies to provide with. December 29, SafeMoon has officially winded down the support for V1 know, you may loose distributions! The Verge reached out to 'sell ' to anyone 41,304.10 USD and struggling! Be out to BitMart with a trillion or quadrillion maximum market supply poo coins correction: Bobby is... Taken as financial advice boost this week Loading Data Please wait a moment put this out! As CNBC reports, there are already investors on Reddit screaming about they lost entire... Disclaimer it says the fee percentages are different entire project on its exchange for trading purposes online. About him is Paintless dent repairs fixing the little things that bother you since 2000 not! That bother you since 2000 the SafeMoon protocol is a combination of the market Please read information!
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