Crypto Heist: $5.6M Stolen from Serenity Shield

Attack on Serenity Shield

On February 27th, a Metamask wallet belonging to Serenity Shield, a data storage platform, was compromised. Over 7 million SERSH tokens, worth $5.6 million, were stolen.

Token Price Plummets

The theft caused the SERSH token price to drop dramatically, falling over 90% to $0.0073. It later recovered slightly but continued to decline.

Team Response

Serenity Shield halted SERSH trading on centralized exchanges and advised holders to stop using PancakeSwap. They plan to relaunch the token on a secure smart contract, offering a 1:1 replacement for holders who purchased before the incident.

Security Alert

The team clarified that the project was not hacked, but a hot wallet containing SERSH tokens was compromised. They denied allegations of a “rug pull.”

Link to OKX Hack

Crypto investigator ZachXBT discovered that the addresses involved in the hack were linked to the December 2023 security breach at the OKX crypto exchange.

Community Concerns

Holders expressed concerns about the platform’s future and the possibility of an inside job. The team assured them that they were working to address the situation and protect the community.

Caution for Crypto Users

Experts advise crypto users to be vigilant and avoid suspicious links or account activity, as scammers continue to target high-profile figures and projects.