Pepe Creator’s NFT Projects Exploited: $1M Loss & Mutuum Finance Soars 200%
Major NFT Exploit Linked to Pepe Creator Matt Furie Results in $1 Million Loss
Significant NFT Breach Uncovered
Blockchain investigator ZachXBT has revealed a serious security breach impacting NFT projects tied to Matt Furie, the creator of Pepe. This incident has led to a staggering loss of $1 million, affecting platforms such as Replicandy and Peplicator. The attackers exploited vulnerabilities by minting and quickly selling off NFTs, which resulted in a sharp decline in floor prices. Investigators are looking into the possibility that North Korean IT professionals may be behind this exploit, raising concerns about the hiring practices prevalent in the cryptocurrency sector.
Mutuum Finance Gains Momentum in Crypto Market
In contrast, Mutuum Finance (MUTM) is experiencing remarkable growth within the cryptocurrency landscape. Currently in Phase 5 of its presale, the token price has surged to $0.03, marking a 200% increase from the initial phase price of $0.01. With over half of this phase already sold, potential investors are urged to act quickly to secure tokens at this favorable rate. The upcoming Phase 6 will see a price increase of 16.7%, bringing the cost to $0.035, while the official launch is set at $0.06, promising a 100% return for early investors.
Strong Investor Confidence and Security Measures
Mutuum Finance has successfully raised $11.4 million and garnered a community of 12,600 holders, reflecting robust investor confidence. The project has passed a thorough audit by CertiK, achieving an impressive security score of 95.00 with no identified vulnerabilities, reinforcing its credibility in the crypto market.
Innovative DeFi Solutions and Future Developments
The project is making strides in the decentralized finance (DeFi) arena with its unique dual-lending system, which includes both Peer-to-Contract and Peer-to-Peer options. The Peer-to-Contract model utilizes smart contracts to dynamically adjust interest rates, ensuring stability in lending and borrowing activities. Meanwhile, the Peer-to-Peer system facilitates direct, negotiable transactions, making it ideal for volatile assets and enhancing overall transparency and efficiency. Additionally, Mutuum Finance is in the process of creating a USD-pegged stablecoin on the Ethereum network to mitigate depegging risks and improve liquidity.
Commitment to Security and Community Engagement
To further bolster security, the team has initiated a $50,000 USDT Bug Bounty Program in collaboration with CertiK, offering rewards across four tiers of severity to encourage vulnerability reporting. A leaderboard will reward the top 50 holders with bonus tokens, promoting long-term engagement and commitment within the community. These initiatives highlight Mutuum Finance’s dedication to building trust and fostering community involvement, positioning it as a compelling investment opportunity in the crypto space.
Future Projections for Mutuum Finance
Analysts predict that the value of Mutuum Finance (MUTM) could soar to $1.8 by late 2025, representing a potential 60-fold increase from its current price. This optimistic forecast is driven by the project’s innovative lending model, stablecoin development, and advancements in Layer 2 technology. As interest in the crypto market intensifies, investors are keen to secure their positions in Mutuum Finance ahead of the anticipated price increase in Phase 6.
