{"id":429791,"date":"2023-08-14T16:05:11","date_gmt":"2023-08-14T16:05:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=429791"},"modified":"2023-08-14T16:05:11","modified_gmt":"2023-08-14T16:05:11","slug":"fantom-price-prediction-ftm-ready-for-25-pump","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/fantom-price-prediction-ftm-ready-for-25-pump","title":{"rendered":"Fantom Price Prediction: FTM Ready for 25% Pump?"},"content":{"rendered":"

Recent reports suggest Fantom (FTM)<\/a> has experienced intense selling pressure following a Multichain hack.<\/p>\n

Hacks and theft are relatively common in the crypto industry, but they still have a substantial impact when they happen.<\/p>\n

Fantom’s Multichain, a vital bridge network, fell victim to a hacking attack that resulted in a theft of $125 million.<\/p>\n

Furthermore, Multichain’s founder was arrested<\/a> only a few weeks earlier, and the authorities seized his crypto wallets.<\/p>\n

As a result, Fantom’s ecosystem has suffered quite a bit, with token holders feeling extraordinarily uncertain and unwilling to take risks.<\/p>\n

Fantom DEX goes down<\/h2>\n

The arrest of the Multichain CEO, followed by the hack of the network, has left the Fantom community in a bad state.<\/p>\n

However, the situation escalated even further when the Fantom DEX was forced to shut down after the hack.<\/p>\n

Known as SpiritSwap, the DEX was once considered an integral part of the Fandom network. However, on August 9, the DEX decided to stop working.<\/p>\n

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End of an era as @Spirit_Swap<\/a> calls it quits; the very first place I landed on #Fantom<\/a> 828 days ago 😢👻<\/p>\n

They're looking for a team to hand things to; otherwise operations will cease on September 1; a guide to help users withdraw $SPIRIT<\/a> dregs as they unlock will be developed 🪦 pic.twitter.com\/Syu2wqNlAY<\/a><\/p>\n

— Blockchain Ecologist (@block_ecologist) August 9, 2023<\/a><\/p><\/blockquote>\n