Serenity Shield suffered a big hack in their BEP-20 token contract this week. All trading in $SERSH is halted. Even on DEXes like PancakeSwap. Well the team has an update so let’s see what they are doing to help $SERSH holders and restore confidence in the project.
These are the steps Serenity Shield is taking to safeguard users and holders of $SERSH.
WhoDunIt?
Well, thanks to an investigation by a few firms including MetaSleuth, we know who did it.
The Serenity Shield hack was done by the same wallet (and people) behind the ConcentricFi hack and the OKX DEX hack. You may remember the OKX hack for $2.7 million in December.
We know for some of you, that will make you feel better knowing this wasn’t an “inside job” or attempt at a rug pull. It was a coordinated outside effort.
Serenity Shield was hacked by the same hacking group that hacked #Concentricfi and #OKX DEX. The address
0x93a8b27C8DC2089BB071c22491a715DcB381F554
was used to launder stolen funds from Serenity Shield and OKX DEX.Tool: @MetaSleuth pic.twitter.com/c0IF7YF82E
— Evgenii| BLIN Analytics (@CryptoEvgen) February 27, 2024
What About the Project Itself?
Since the hack was to one on Serenity’s own wallets, the project itself and StrongBox users were not affected.
In fact, one of the reasons why we like the StrongBox product is its security. Because your private keys are split into 3 separate keys, even if the OKX DEX hacker got control of one, they still couldn’t access your account. That’s one of the things we like about StrongBox. It’s trustless. You don’t have to trust Serenity Shield or anyone else to keep your data safe. It’s built into the system naturally.
New Token Launch
As I said at the top, Serenity Shield has a plan to safeguard users. And that plan involves a new token launch from a newer, safer smart contract. Here are some of the details we know as of now:
🧵1/3
Dear Community,
As promised, we’ve dedicated continuous effort to redeploy a new $SERSH token smart contract, securing an impeccable 10/10 audit score from @hackenclub –https://t.co/GrWoW4uGTR 🛡
— Serenity Shield (@SerenityShield_) February 29, 2024
- It will stay on BEP-20 with a new token contract.
- Hacken completed the audit and the contract got a perfect score. Hacken is one of the most respected security auditors in the industry. So this is a good sign.
- The snapshot for the token reissue via airdrop is Feb 27, 2024 2.26 PM UTC or 9.26AM Eastern time.
So your BEP-20 tokens of $SERSH are safe. You will get the new token via airdrop very soon based on your holdings as of the snapshot time.
So if you hold $SERSH just sit tight. A token under the newer, safer smart contract is coming soon. We will report on the latest relaunch details when we get them.
The full relaunch roadmap per the team at Serenity is right here: https://assets-global.website-files.com/646e1d2bb86f8833c75bdc7b/65e19f97a10bd9fb50c07b79_Relaunch%20%26%20Roadmap.pdf
At the time of writing, the $SERSH token is trading at 1.4 cents. As mentioned before, there is no volume as all trading on CEX and DEX exchanges has been halted. A week ago, the price was 67 cents. So if you liked the project at that price, you will likely get a big discount when markets reopen. Stay safe and DYOR.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by Serenity Shield.
Copyright Altcoin Buzz Pte Ltd.
