a Everscale (EVER), an unknown cryptocurrency with a market value of R$250 million, lost more than 22% of its value this Tuesday (17) after the announcement of a major coin theft. On social media, the team asked investors to hold on and not take hasty actions.
As an action, Everscale announced that it is collaborating with exchanges where the cryptocurrency is listed. To date, Korean companies Bithumb and Coinone have suspended deposits and withdrawals EVER.
“At the request of the Foundation, Everscale (EVER) deposit and withdrawal services are temporarily suspended”reports Bithumb.
“We would like to inform you about the temporary suspension of deposits and withdrawals to stabilize Everscale (EVER) services”Coinone reported.
Project suffers from major thefts and price drops
Although they did not mention the extent of the loss, the Everscale team stated that they had experienced a “major theft.” Although the stolen cryptocurrencies are in ‘packaged’ form, serve as a token on the Ethereum network and are not the original cryptocurrency, they have suffered major losses EVER on Tuesday (17).
“Friends, unfortunately a large number of EVER tokens have been stolen. We work closely with the stock exchanges where EVER is listed to prevent any additional outflow of tokens.”wrote the Everscale team. “Remain calm and do not take rash actions. To stop the actions of those responsible, we have temporarily closed the Octus Bridge.”
Recent EVER Volatility
Friends, unfortunately a large number of EVER tokens have been stolen.
We work closely with exchanges where EVER is listed to stop further outflow of tokens 🛠
Stay calm and don’t take hasty actions 🧘
Fuses… pic.twitter.com/RxmkSiwmnC
— Everscale (@Everscale_net) October 17, 2023
In an update on Tuesday afternoon, the team stated that the theft was the result of “fraudulent activities” and that the network or decentralized applications (dApps) have not been hacked.
“The stolen tokens were EVER in ERC20 and not the currency in its original form.”
“The brokers Everscale works with have suspended Wrapped EVER (WEVER) deposits and withdrawals”, the statement continued, citing links to announcements from Korean exchanges Bithumb and Coinone. Despite this, the EVER cryptocurrency continues to decline.
Project has a low safety rating, Certik warns
According to Certik, a blockchain security company, Everscale (EVER) has a low score in “code security” at just 48.88 out of 100. By comparison, Bitcoin’s score in this regard is 96.65.
Although it is a small project, occupying only 373rd position on CoinMarketCap in terms of market value, EVER is valued at R$250 million. Therefore, it is possible that the decline has affected several investors.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
