Christopher Hsieh 🧡 $DOG

Earlier today the largest crypto exchange in Brazil @MercadoBitcoin was hacked and 299,921,791 wrapped $DOG tokens on Solana worth ~$245,935 were stolen The hacker then swapped the wrapped $DOG tokens for USDC on Solana in 30 separate transactions over the course of 43 minutes This extreme selling pressure caused the price of wrapped $DOG on Solana to drop from $0.00082 to $0.00039 The price of wrapped $DOG on Solana has since stabilized as traders took advantage of the arbitrage opportunity and brought the price back up to $0.00075 $DOG's price on native Bitcoin and on CEXs was relatively unaffected The third-party $DOG bridge to Solana operated by @minelabs_ remains fully operational and was not impacted by this incident Mercado Bitcoin has announced that they will absorb the losses from this hack and that "there was no harm to customers" My interpretation of their statement is that they will soon be repurchasing 299,921,791 wrapped $DOG tokens on Solana in order to restore their reserves to their previous levels The $DOG Army was uniquely impacted by this incident compared to other memecoin communities given the $DOG Army's large presence in Brazil I want all Brazilian $DOG soldiers to know that we stand together with you and hope that Mercado Bitcoin makes a full recovery from this incident This is also an important moment to remind everyone about the importance of securing their $DOG @krakenfx is the most regulated exchange with the strongest track record that currently lists $DOG @xverse combined with @Ledger remains the most recommended self-custody solution among $DOG soldiers While I believe everyone should decide which custody solution is best for them I strongly encourage all $DOG holders to take this opportunity to reassess how they secure their tokens and ensure their holdings are properly protected as the crypto industry faces an increasingly sophisticated landscape of security threats driven by advances in AI

BREAKING: BINANCE'S NET OUTFLOWS HAVE NOW HIT A RECORD $15.4 BILLION FOR THE WEEK

Instead of everyone on CT being spread across a thousand different coins imagine if we all rallied behind a single coin like $DOG on Bitcoin and sent it to the moon so we could all win together

UPDATE: BINANCE'S NET OUTFLOWS HAVE NOW SURPASSED $7 BILLION SETTING A NEW RECORD FOR ANY CRYPTO EXCHANGE

All Elon did was post an emoji bro You are the one who has been writing a bunch of long posts about the fact that he replied with an emoji Perhaps you should instead spend your time looking into the bank run that is happening on your exchange right now nitter.cf/LeonidasNFT/status/211…

BREAKING: BINANCE'S NET OUTFLOWS TODAY HAVE NOW REACHED A RECORD SETTING $6.76 BILLION WHICH SURPASSES THE TOTAL AMOUNT OF THE INITIAL HACK

I don't think people realize how bad the situation at Binance is getting Less than 24 hours ago Binance began enabling withdrawals for 21 coins But there are still 531 coins that you can't withdraw And of the 21 that you can withdraw they have a "Partial Withdrawal Suspended" status which means that you have a limit on how much you can withdraw But even with all of these precautions and limitations Binance still experienced an all time record net outflow of $6.1 billion today That is more than the total net outflows during the 72 hours before FTX collapsed $6.1 billion is the largest daily net outflow ever recorded for a crypto exchange So over the coming days as Binance continues to enable withdrawals for more coins and then eventually removes the partial withdrawal limitations the weekly and monthly net outflows will balloon What makes this even more concerning is that this is in addition to the $6.3 billion hack that occurred several days ago Remember that Binance is an unregulated black box that keeps their balance sheet and liabilities top secret We have no way of knowing if they used customer deposits as collateral in an off-chain deal to replenish their reserves It has been long suspected that Binance operates on fractional reserves and given they don't publish their financials publicly nobody can prove to you that they don't By every metric Binance is experiencing the start of a bank run When the cracks will begin to appear is unknown But it is very clear that trust in CZ and Binance is deteriorating rapidly All it would take is a single FUD post from Elon to trigger a death spiral that could end in Binance's collapse the same way that CZ's post triggered a bank run on FTX four years ago Right now the only responsible thing to do is to withdraw all of your funds from Binance immediately There is zero upside to waiting around to find out what happens next Remember that in bankruptcy the secured creditors will get priority over normal customers If your funds are on Binance they are not safe and anybody telling you differently is lying

BINANCE NET OUTFLOWS HAVE REACHED A NEW RECORD OF $6.1 BILLION AND THE CRAZY PART IS THAT BINANCE HAS STILL NOT ENABLED WITHDRAWALS FOR 531 OF THE 552 COINS THEY LIST AND FOR THE 21 COINS YOU CAN WITHDRAW THEY ARE LIMITING HOW MUCH YOU CAN WITHDRAW GET YOUR FUNDS OFF BINANCE