Milady Meme Coin Subject to Major Hijack Attempt by Developers

Learn about the recent hijack attempt on Milady Meme Coin by developers and its impact on the cryptocurrency market. Explore the measures taken to secure the protocol and the community's response. Stay informed on the latest developments in the meme coin sector.

Posted 8 months ago in Altcoins

Milady Meme Coin logo showcasing stability

One of Shiba Inu's (SHIB) top rivals, Milady Meme Coin (LADYS), has recently experienced a significant hijack attempt carried out by certain members of its developer team.

The attack was orchestrated by a developer who had previously worked on Bonkler, resulting in the diversion of approximately $1 million in Remilia's generated fees. This incident has raised concerns within the Milady Meme Coin ecosystem.

While the team was caught off guard by the attack, the attackers made some miscalculations that ultimately led to their identification. As a precautionary measure, the team has temporarily paused minting on Bonkler and has planned a V2 upgrade to reinforce the protocol's security infrastructure.

Milady Meme Coin gained prominence in the Web3.0 ecosystem following an endorsement from Elon Musk, drawing comparisons to Dogecoin. However, this recent hijack attempt marks the protocol's first major attack since its inception.

Despite the security breach, all Remilia NFTs, metadata, and domains remain secure, ensuring the integrity of existing Bonklers. Surprisingly, the community has responded calmly to the news, with minimal panic selling observed.

Currently, the price of LADYS stands at $0.00000003162, reflecting a 2.42% increase in the past 24 hours. This stability implies a growing coordination within the meme coin sector, transcending its usual volatility.

Last updated 9/13/2023, 3:10:54 AM


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