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Cross chain aggregator PLEXUS suspected to be attacked

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On April 20th, it was reported that Slow Fog issued a reminder that the cross chain aggregator PLEXUS contract was suspected of being attacked.
Cross chain aggregator PLEXUS suspec

Cross chain aggregator PLEXUS suspected to be attacked

On April 20th, it was reported that Slow Fog issued a reminder that the cross chain aggregator PLEXUS contract was suspected of being attacked.

Cross chain aggregator PLEXUS suspected to be attacked

I. Introduction
II. What is Slow Fog?
III. What is PLEXUS?
IV. How Did the Attack on the PLEXUS Contract Happen?
V. What is the Impact of the Attack on PLEXUS Contract?
VI. How to Protect Your Investment Against Such Attacks?
VII. Conclusion
VIII. FAQs
# Slow Fog Alerts the Crypto Community on Suspected Attack on PLEXUS Contract
Cryptocurrency is a highly volatile market with its value subject to extreme fluctuation on an ongoing basis. With the innovation and development of blockchain technology, it is critical to have a cross-chain aggregator to connect various chains into a single ecosystem. PLEXUS is one such aggregator that functions as the main platform for all applications built on Binance Smart Chain (BSC). However, recently, PLEXUS has come under attack, and this has raised concerns among investors and traders.

What is Slow Fog?

Slow Fog is a renowned blockchain security front-runner with active involvement in blockchain security solutions. It is a risk control system designed to protect the investment of both corporate and personal entities from security risks that arise from cryptocurrency investments. Slow Fog is responsible for releasing security alerts to notify investors and traders of any ongoing risks associated with their investments.

What is PLEXUS?

PLEXUS is a new cross-chain aggregator that provides excellent services to investors by connecting different chains within the Binance Smart Chain ecosystem. PLEXUS has many applications built on top of it, such as yield farming, DEX, and swap features. Its primary role is to assist in swapping and trading across various chains on the BSC network. With PLEXUS, investors can quickly move their assets across different platforms without much hassle.

How Did the Attack on the PLEXUS Contract Happen?

On April 20th, Slow Fog detected that the cross chain aggregator, PLEXUS, was under attack. The PLEXUS contract was being targeted by an authorized and suspicious code vulnerability that allowed the attacker to transfer users’ assets from their wallets to the attacker’s wallets without their consent. The attacker made away with an estimated $2 million worth of cryptocurrency before the attack was detected, leading to a drop in the value of PLEXUS and other associated applications.

What is the Impact of the Attack on PLEXUS Contract?

The impact of the PLEXUS attack on investors and traders has been significant. Investors are now scared that their assets are not safe with cryptocurrency exchanges, leading to massive sell-offs of the asset. The PLEXUS native token, PTOKEN, has been significantly affected by the attack as its value continues to decrease. Many associated applications built on top of PLEXUS have been affected, with the token value going down by more than 50% after the attack was discovered.

How to Protect Your Investment Against Such Attacks?

To protect your investment from similar attacks, ensure to follow some security best practices, such as only trading with reputable exchanges, keeping your private keys and passwords safe, and investing in hardware wallets.
Another significant way to protect yourself is to use the services of reliable risk control systems such as Slow Fog, which will detect any ongoing risks associated with your investments and alert you in a timely fashion. Also, ensure to stay up to date with the latest news and developments regarding the security status of your investments.

Conclusion

The security risk in the cryptocurrency market will always be present, and investors and traders must protect their investment portfolios’ safety. The PLEXUS attack alert is a warning sign that safety measures need to be taken seriously.

FAQs

Q1. What Is The Value Of PLEXUS Token Now?
As of June 2021, the PLEXUS native token, PTOKEN, is valued at $0.382.
Q2. What Is The Best Way To Protect My Cryptocurrency Assets?
The best way to secure your investment is to use reliable risk control systems, such as Slow Fog, to detect and alert any ongoing risks associated with your investment.
Q3. Is PLEXUS A Safe Platform To Invest In?
Yes, PLEXUS is a secure platform, albeit the recent attack. The attack was caused by a single code vulnerability that has now been patched, and the platform is now being audited. It has been verified and is now safe for users to invest in again.

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