Maker (MKR) on-chain metrics paint a bearish picture for the asset. One wallet address was exploited with 3,657 MKR tokens worth $8.7 million and 2.56 million Ethena tokens worth $2.4 million.
The MKR price was hit by a correction and then rebounded, posting a gain of 1.11% on Sunday.
Cryptocurrency wallets hacked with Maker and Ethena
On-chain data tracker Lookonchain tracked a crypto wallet address being exploited for 3,657 MKR (worth $8.7 million) and 2.56 million Ethena tokens (worth $2.4 million). . The miner sold MKR for Ether and caused the price to drop by nearly 7%.
MKR recovered and rose 1.11% on Sunday. The miner sold Ethena tokens worth 689 Ether, or $2.41 million.
Someone lost $11.1M in a phishing attack 5 hrs ago!
He was exploited for 3,657 $MKR($8.7M) and 2.56M PT Ethena tokens($2.4M).
The exploiter sold 3,657 $MKR for 2,502 $ETH($8.7M), causing the price of $MKR to drop by 7%.
And swapped 2.56M PT Ethena tokens for 689 $ETH($2.41M).… pic.twitter.com/PNcQNCZ9Pc
— Lookonchain (@lookonchain) June 23, 2024
Data from on-chain intelligence tracker Santiment shows that on-chain metrics have become bearish. Maker supply on exchanges has peaked over the past year, along with its social media prominence. An increase in supply on exchanges is often accompanied by a decrease in the price of the asset due to increased selling pressure.
Social prominence measures an asset’s dominance, its share in cryptocurrency discussions on social media platforms.
The current Maker price is $2,378 at the time of writing. The asset is up 1.11% in the past 24 hours. Ethena is up less than 1%, trading at $0.60, according to Coingecko.
Thach Sanh
According to Fxstreet
