#token

Shibarium, the Layer 2 blockchain by Shiba Inu's creators, is back in action. After a temporary shutdown due to scalability issues, the team has reopened withdrawals on its bridge to Ethereum. The pause initially locked millions in user funds and caused community unrest. Now, the mainnet and bridge are fully functional, allowing withdrawals of various assets like SHIB, LEASH, and WETH within 45 minutes to 3 hours. BONE token withdrawals are also back but may take up to 7 days.

Srettha Thavisin became the Prime Minister of Thailand and continued to discuss the idea of an airdrop for all citizens of the country over the age of sixteen. Under the preliminary terms, each individual will receive 10,000 Thai baht (approximately $300) in a national token and will be able to spend it within a four-kilometer radius of their residence. The initiative has not yet received approval among politicians, as its cost is estimated at $14.3 billion, and financiers have questioned the feasibility of using blockchain for such campaigns. Apparently, the promises about airdrop was not unnecessary for victory!

Elon Musk has once again pumped DOGE. The token surged by 4.1%. Meanwhile, the legal battle over Musk's alleged manipulation of Dogecoin rages on, with his attorney denying any involvement.

The Sei team has initiated token claims for those who participated in the testnet early on. However, the meager bonuses received have left many reevaluating their decision to engage in future airdrops, especially for Tier-2 or Tier-3 projects. Rewards were disappointingly scant, with most individuals earning only a nominal amount for blockchain testing. The SEI token price decreased by 20%, possibly attributed to either the overnight downturn in the crypto market or the airdrop itself. P.S.:To claim your tokens, the Compass wallet is essential, and some regions might require a VPN.

Security company PeckShield has issued a warning to users about a phishing attack conducted by a scammer who has stolen over $675,000 in the past five days. He exploits USDT token permissions. Users are therefore advised to promptly verify and revoke any suspicious accesses to safeguard their assets.

The XRP correction has offset the entire growth seen after Ripple’s victory over the SEC. The token had skyrocketed by 73% within just 8 hours of the court decision, setting a new annual high.

Currently, Mantle DAO is evaluating a proposal that would prohibit the conversion of BIT tokens held by FTX Group into the new MNT token. Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal. MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens. Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.

Between mid-July and Base’s public introduction in August, more than 500 scam tokens, like BASEPEPE (BPEPE) and Baby Yoda (YODA), were deployed on the blockchain, as reported by Solidus Labs, Around 300 of these tokens enabled their creators to generate an unlimited number of coins, unbeknownst to Base users, significantly impacting the tokens’ values. Moreover, about 60 tokens prevented buyers from reselling them on exchanges. The scam tokens collectively generated approximately $3.7 million in trading volume and yielded around $2 million in profits, according to Solidus.