Cryptocurrency market last week: Bitcoin near $ 46,500, Ethereum down almost 20%

The cryptocurrency market suddenly collapsed over the weekend, with Bitcoin dropping nearly $ 46,500 and many other cryptocurrencies dropping 25-30%. The decline came amid risk aversion as the Omicron strain still ruled the market.

Bitcoin has fallen more than 30% from its high

On December 4th (Vietnam time) at 12:40 p.m., Bitcoin fell nearly 18% to nearly 46,500 USD, the biggest drop in many months. Compared to the record high of almost VND 69,000 USD, the largest digital coin has fallen more than 30%.

In the meantime, other virtual currencies are also in the red in the top 10. Ethereum fell more than 17% to 3,735 USD, Solana coin fell more than 22%, Cardano and Ripple fell more than 25%.

The two memecoins Shiba Inu and Dogecoin also “evaporated” by more than 20% and disappeared from the top 10 of the largest digital currencies.

The demise of the virtual currency market also merged with the sell-off of high-risk assets amid the Omicron mutation that pushed investors to avoid risk. Meanwhile, the stock market and oil prices also collapsed.

The market capitalization of virtual currencies also evaporated by almost 500 billion VND USD in within the last 24 hours, from 2,620 Billion USD approx. 2,130 USD on the morning of December 4th

Legendary Charlie Munger wishes cryptocurrency was never born

The legend of Charlie Munger

At the Sons conference, Charlie Munger – Warren Buffett’s right-hand man at Berkshire Hathaway – said he wished digital currencies never existed and praised China for banning the use of digital currencies entirely.

“I wish they had never been made,” he said. “And again I admire China. I think you made the right decision to ban cryptocurrencies. America made the wrong decision and I just couldn’t partake of the madness in the market. “

DeFi exchange stolen 120 Million dollars

Recently, a hacker withdrew funds from several crypto wallets connected to the BadgerDAO decentralized financial platform and the attack stole various tokens valued at around $ 120. Million dollars.

According to The Verge, members of Badger informed users while the investigation was still in progress that the problem originated from hackers injecting a malicious script into their website’s user interface. For any user who interacts with the site while the script is active, the script intercepts Web3 transactions and inserts a request to transfer the victim’s token to the address chosen by the attacker.

Meanwhile, PeckShield pointed to a transfer of 896 Bitcoins to an attacker’s wallet worth over 50. there Million dollars. According to the research team, the malicious code surfaced as early as November 10th when attackers ran malicious scripts at random times to avoid detection.

After learning of the unauthorized transfers, Badger stopped all contracts, essentially freezing the platform, and advising users to decline all transactions to the attacker’s address.

The company said it had “withheld data from Chainalysis forensics experts to uncover the full extent of the incident and that authorities in both the US and Canada have been notified.” Badger fully cooperates with external investigations and conducts its own investigations. “

Adidas is “developing” into a digital currency?

It looks like Adidas is going all-in on crypto when it announced a partnership with crypto exchange Coinbase, not long after a major investment was made in a piece of land in The Sandbox’s blockchain-based virtual game world. ..

In a statement on Twitter, Adidas said it works with cryptocurrency exchange Coinbase, but disclosed little about the nature of the partnership. Coinbase has also confirmed this partnership and has not disclosed anything more.

In an allegedly related move, Adidas also teased the possibility of building something special on The Sandbox’s virtual lots with the “AdiVerse” concept.

In a recently released statement, an Adidas spokesperson confirmed that “the Metaverse virtual universe is currently one of the most exciting developments in digital space and represents an exciting platform for Adidas”.

Vu Hao