Leo Finance: Monday Morning Briefing

Goooood morning Lion's I trust you're all well recovered after a wonderful weekend and had time to gather your thoughts and prepare to roar into another glorious week of Crypto trading.

Over in the Eastern hemisphere we have just entered Monday morning and for some of you, I maybe writing to you from the future. Or more so a different time zone. It has definitely been quite the weekend with many things happening.

Although we we're hoping for more great gains there's been a few exploits that have brought hesitation to investors and one of the exploits as quite a notable incident. So much so it's impacts wont be fully realised for a few days.

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Atomic Wallet Exploit

In a Tweet Atomic wallet has announced that their systems have been compromised resulting in entire crypto portfolio's stolen from users accounts. Atomic has made a statement that they are currently investigating the matter. It is unknown how many people have been impacted but if your wallet has been compromised you can reach out to the organisation as [email protected].

Previous hacks of this nature on Atomic Wallet has resulted in nil action with the company informing it's users to protect their passwords and seed phrases.

There has been no information surrounding if the company will reimburse wallet holders for their wiped crypto assets or, if they are left to their own demise. We will provide more information on the hack as it unfolds.

Decrypt has reported that the total amount currently known to be stolen is around the USD35 Million mark but that figure is tipped to continue to rise as more people come forward.

Leo Finance Discord Server Hack

Leo Finance had troubles of it's own this weekend with it's Discord server compromised as one if it's admin had their Discord account hacked resulting in hackers entering the Leo Finance Discord, deleting rooms to syphon users to the main chat and launching a Phishing Scam.

The Phishing scam promised a new Leo Air drop with veterans of the Leo Finance community calling out the suspicious activity only to find themselves removed and blocked from the server.

It is currently unknown how many Hive users had clicked the link but the malicious link did seek authorisation of people's wallets and users who did click the link and provide authorisation need to be aware that revoking the authorisation does not keep you safe.

If you are impacted you are being advised to create a new wallet and transfer funds to the new account to avoid total loss of funds or future exploits. Hackers are able to retain your access and may attack in future years without you knowing.

Take action today before it is too late!

It is unsure if Leo Finance Discord will continue as now that it has been compromised there is uncertainty on if the hackers have left further malicious attacks hiding awaiting another future attack once things settle.

Asia Accumulating Bitcoin

In some positive Monday morning news Analysists Believe Asia is in an accumulation phase buying up Bitcoin. This comes off the back of last weeks news where Chinese State Owned Media promoted Hong Kong Crypto exchange to it's 1 Billion viewers.

US treasury still continues to put Crypto liquidity at risk needing to claw back funds to replenish it's account and it is uncertain how the remainder of the year will continue. However, Analysists did point out that what is occurring now is similar to 2019.

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Changpeng Zhao's Dynasty coming to an end?

Binance has been wrapped in turmoil for the passed few months despite it's front facing comms reassuring people that everything is Hunky Dorey. Binance has suffered a number of set backs from cancelling financial services licenses to almost being run out of trading in many nations around the globe.

This comes as regulators the world over face community backlash at the current state of the crypto market and the billions of lost funds forcing governments to divert their focus on crypto exchanges.

News has emerged that a possible "Heir" to the Binance Dynasty is emerging with the emergence of Richard Teng who is currently head of Binance regional markets.

Mr Teng joined Binance in 2021 and is no stranger to the cryptosphere having been the former CEO of Abu Dhabi Global Market and Chief Regulatory Officer of the Singapore Exchange (SGX).

Time's look like they are a changing for Binance but there is still a lot left to the unknown.

There's your Monday run down, have fun, be safe and see you at the other end!

image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.