In Brief
Crypto hackers infiltrated PlayDapp's system, causing a $31 million loss by minting 200 million unauthorized PLA tokens.
The incident highlights the urgent need for improved security measures within the blockchain and cryptocurrency markets.
PlayDapp has taken action to mitigate the impact, including transferring assets to a new wallet and collaborating with the FBI.
The blockchain gaming platform PlayDapp suffered a $31 million loss as hackers infiltrated its systems.

This alarming incident underscores the pressing need for heightened security protocols within the cryptocurrency market.

Blockchain Game App Hacked
Web3 security firm Cyvers confirmed that attackers managed to add their address as a minter on PlayDapp. Subsequently minting 200 million PLA tokens valued at approximately $31 million.

These ill-gotten gains were quickly dispersed to various addresses, with a notable $5.9 million worth of the stolen PLA tokens being moved to the crypto exchange Gate.io.

PlayDapp, in a recent statement, highlighted the severity of the breach and outlined immediate steps to mitigate the damage. The company has alerted all partner exchanges, urging them to halt trading to prevent the circulation of the unauthorized tokens.
In an effort to control the situation, PlayDapp also announced the transfer of all PlayDapp-held PLA to a new, secure wallet, encompassing both locked and unlocked holdings. This move aims to shield PLA assets from further risk.

“We have contacted the hacker directly through an on-chain message and made an offer for a reward for the immediate return of all stolen contracts and assets. Failure to accept this offer will prompt us to quickly work with the FBI and law enforcement agencies in the pursuit of the hacker,” PlayDapp said.

Following the hack of the blockchain game app PlayDapp, PLA, its native token, suffered a significant price correction. It went from trading at $0.18 to $0.16, representing a 12.23% downswing.
The incident underscores the vulnerabilities in the blockchain and cryptocurrency sectors. It spotlights the need for enhanced security measures to protect investors’ assets.

As the situation unfolds, PlayDapp has called for the community’s cooperation. It also advised against the spread of misinformation and to seek updates directly from official channels.

Binance to Delist 4 Altcoins – Including This Top 40 Crypto

In Brief
Binance, a global cryptocurrency exchange, will delist four altcoins, including Monero (XMR), a top 40 cryptocurrency.
Binance's decision to delist these tokens has shocked community, especially due to XMR's strong market presence.
After the delisting, Binance will remove all trade orders and advises users to withdraw these tokens before May 20, 2024.
Binance, the global cryptocurrency exchange, has announced the delisting of four altcoins, including Monero (XMR), a well-regarded privacy coin, and a top 40 cryptocurrency by market capitalization.

Alongside XMR, Aragon (ANT), Multichain (MULTI), and Vai (VAI) will also see their trading pairs removed from the platform on February 20, 2024.

Why Binance Will Delist 4 Altcoins
This move is part of Binance’s routine evaluation to ensure that all listed cryptocurrencies meet the exchange’s stringent standards. Moreover, these periodic reviews assess various aspects, such as:

The development team’s dedication.
The quality and level of development activity.
Trading volume.
Liquidity.
Network stability.
Public communication.
Contribution to a sustainable crypto ecosystem.
“When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users,” Binance explained.

The decision to delist these tokens has stirred reactions within the cryptocurrency community, especially with Monero’s strong presence in the market. With a market capitalization of $2.6 billion, XMR ranks 36th, marking it as a significant asset within the industry.
The privacy-focused cryptocurrency has been a staple for users prioritizing anonymity, making its delisting a notable event.

Following the announcement, the affected cryptocurrencies have experienced varied market responses. ANT quickly bounced back from an initial price dip, demonstrating resilience and strong community backing. Conversely, MULTI and VAI have suffered substantial declines, dropping by 18.76% and 5.61%, respectively. XMR, despite its robust market position, has not been immune to the impact, witnessing a 13.82% decrease in value.

Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

Top 3 New Meme coins to invest for 100x returns in a short time!

Despite the memecoin category recording a successful 2023, top tokens have started the year on a bearish note, indicating a decline in the interest of the investors in it. On the other hand, during the last week of January, low-cap memecoins displayed significant fluctuations in their respective charts.
The increase of investments in low-cap memecoin highlights the switch of interest of investors within the category for more profits. In this article, we have covered the top three potential memecoins to invest in with a potential return of 100x in a short time.

Wen (WEN):
Due to the increased volatility in the Solana ecosystem and connections with the Jupiter token, WEN memecoin recorded a successful launch recently. WEN contributed over $50 Million daily to Jupiter, making it popular instantly.

The WEN price recorded massive gains between 26th January and 29th January, indicating a potential multi-bagger for the upcoming bull rally. The Wen price was launched at $0.00000028, and within the next few days, the token recorded a top of $0.0000058.

Currently, the WEN price trades at $0.0000005141 with a circulating supply of 420 Billion. The WEN token is considered to be a potential multibagger considering the present market sentiments.

Dogwifhat (WIF):
Dogwifhat works on the Solana blockchain and drew its inspiration from the Dogwifhat meme. It is sub-categorized under dog-based memecoins like DOGE, FLOKI, and Shiba Inu. The WIF coin has gained immense popularity over the past month, making it a potential pick for this list.
Solana-based memecoins have gained massive attention from the crypto industry recently as many tokens from its ecosystem have added massive value to their portfolio. The SOL price plays a vital role and these tokens are highly influenced by its price movements.

The Dogwifhat is presently trading with a price tag of $0.2868, with a market cap of $286,481,050 and a circulating supply of 998,920,173 WIF. This memecoin is predicted to display similar price action as that of Bonk, making it a potential 100x token.

Memecoin (MEME):
Launched on the Binance Launchpad, the Memecoin price has gained significant attention from the market since its launch. The MEME token was launched, on 28th October 2023 with a price tag of $0.001. The memecoin hit a high of $0.1, a jump of 9,900% within the first few hours of launch.

The present trading price of MEME is $0.02324, with a total supply of 69,000,000,000 MEME, and a market cap of $240,817,211 at the time of writing. It has a trading volume of $34,980,768 over the past 24 hours, indicating a rising interest of investors in this token, making it a potential buy for the coming cycle.

Conclusion:
Overall, the memecoin market has been constantly displaying a mixed price action by recording significant fluctuation in value. This indicates a mixed interest of investors in this category at this point.

Further, this year is considered to be a vital one for memecoins as well as the whole industry as the future of the cryptocurrency market depends on as many major events are scheduled for this year which will collectively reshape the future of the traditional financial system.

Altcoins