Maker (MKR) on-chain metrics paint a bearish picture for the asset.
A crypto trader lost $11.1 million in Maker and Ethena tokens to an exploit. The exploiter sold $8.7 million in Maker and swapped Ethena tokens for Ether. Maker suffered a price drop in the aftermath of the exploit, MKR recovered to $2,391, early on Sunday. Maker on-chain metrics turn bearish, supply on exchanges and social dominance hits its highest point in a year. Maker on-chain metrics paint a bearish picture for the asset. A wallet address suffered an exploit for 3,657 MKR tokens worth $8.
The exploiter sold Ethena tokens worth 689 Ether, $2.41 million. Someone lost $11.1M in a phishing attack 5 hrs ago! He was exploited for 3,657 $MKR and 2.56M PT Ethena tokens. The exploiter sold 3,657 $MKR for 2,502 $ETH, causing the price of $MKR to drop by 7%. And swapped 2.56M PT Ethena tokens for 689 $ETH.… pic.twitter.com/PNcQNCZ9Pc — Lookonchain June 23, 2024 Data from on-chain intelligence tracker Santiment shows that on-chain metrics have turned bearish.
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