Hackers Strike Velocore Exchange

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jun 02 2024

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Hackers Strike Velocore Exchange: Attackers targeted the Velocore exchange, resulting in significant financial losses, following other recent breaches in the cryptocurrency world.
What Happened to Velocore?: Velocore, operating on zkSync and Linea networks, fell victim to hackers due to inadequate code auditing, leading to substantial financial losses.
Who is Behind the Velocore Attack?: The attackers targeted liquidity provider tokens, moving over 700 Ether to the Ethereum mainnet despite audits by Zokyo, Hacken, and Scalebit.
Key Takeaways for Investors: Investors should ensure exchanges have security audits, consider secure storage methods for cryptocurrency, and monitor announcements about security breaches.
Conclusion: Reimbursement or compensation for affected investors from Velocore remains uncertain, adding to the $773 million worth of exploits recorded in the first half of the year.

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Technical Analysis for STRK

Technical Sentiment Analysis for Starknet (STRK). As of , Starknet (STRK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STRK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, STRK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Starknet (STRK) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0293	0.0339	0.0376	0.0422	0.0459	0.0505	0.0542
Fibonacci	0.0339	0.0371	0.039	0.0422	0.0454	0.0473	0.0505

About STRK

StarkNet is a permissionless decentralized Validity-Rollup (also known as a “ZK-Rollup”). It operates as an L2 network over Ethereum, enabling any dApp to achieve unlimited scale for its computation – without compromising Ethereum’s composability and security, thanks to StarkNet’s reliance on the safest and most scalable cryptographic proof system – STARK.StarkNet Contracts and the StarkNet OS are written in Cairo – supporting the deployment and scaling of any use case, whatever the business logic.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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