A Merry Christmas Twist！
‘Tis the season to be jolly! Christmas is coming up, and here comes Monsta Claus bringing the good news to the Monsta community.
10% of MONI’s total circulating supply have been burned!
We were informed by several of our community members that there was a change in the Trust Score for AscendEX on CoinGecko.
This is due to the recent hacking incident targeted towards AscendEX. AscendEX reported to us earlier today that their hot wallets have been compromised 6 days ago. Note that cold wallets were not affected. There were some speculations that this wave of stolen non-custodial wallets was the cause of the price dip of several crypto projects over the past few days.
But with the quick thinking and tireless efforts of our Developer Team, we have managed to recover from such an unfortunate incident. The developer team has managed to track down the wallet address that contains over 1 Million MONI tokens stolen from AscendEX and has successfully blacklisted the wallet address before any further damage can be done towards the price of MONI.
The 1 Million MONI tokens that are in the hackers' wallet will be locked and removed from MONI’s total circulating supply, practically being "burned".
Hackers' Wallet Address: 0xe53EDEb9D326d0452a620D99cb100AFe3A58d5e8
We are grateful that AscendEX has taken the responsibility and are being transparent about such an unfortunate event. We were informed that AscendEX already had plans in motion to restore the lost funds and to compensate all of their affected users by resourcing over 1 Million MONI tokens that were stolen from them, to restore their MONI treasury and reimburse all affected MONI holders.
Special thanks to the Developer Team for their contingency planning and quick actions to salvage from an unfortunate situation. Instead of just focusing on the negatives this tragedy has caused and how it has impacted us, we should note the fact that there is a silver lining to this event and how it will better benefit the value of MONI in the future.
We hope that AscendEX will recover quickly from this tragedy and that the exchange market will operate in a smoother and safer manner in the future.