Binance Coin (BNB) And Hex (HEX) Turn Red ‒ Should You Buy Them?
The fall of FTX rattled the cryptocurrency market, which lost billions of dollars and fell below $1 trillion.
Binance Coin (BNB) tokens were affected by the FTX collapse, causing a major price decline in the last few days. Hex (HEX) is swimming in red lines after the SEC issued a subpoena on influencers advertising the coin.
Compare this with The Hideaways (HDWY) which is super bullish throughout its presale.
FTX Hacker Swaps Binance Coins Into ETH And BUSD
The exploiter behind the FTX network’s recent attacks changed around $7.4 million BNB tokens into Ethereum (ETH) and Binance USD (BUSD). The BNB and BUSD coins are the foundation of BNB Chain, a blockchain network closely associated with the Binance cryptocurrency exchange.
10,000 BNB tokens were exchanged into 2,000 ETH, valued at more than $2.4 million at the present rate, while 19,714 BNB was exchanged into $5 million in BUSD in different transactions.
It is unclear why the attacker is converting the stolen funds and converting them to ETH and BUSD. Authorities haven’t identified the hack.
But experts are keen this is another ploy to break into other networks, particularly the Binance network.
SEC Slams Influencers: “Stop Promoting Hex!”
Things appear to be difficult for Hex (HEX). This week, the HEX price has dropped 7.65%. As a result, the current HEX trading price has fallen to $0.0285, far from its monthly high of $0.0491.
This is partly because the SEC issued a subpoena on influencers to stop promoting HEX.
The SEC slammed influencers and celebrities who promoted dangerous cryptos without revealing that they were compensated for doing so. For example, Kim Kardashian was fined $1.26 million last month for advertising Ethereum Max.
It’s safe to say that you shouldn’t get involved in risky cryptocurrencies like HEX to avoid getting tangled with the SEC.
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But Why Should You Invest In The Hideaways?
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As an HDWY owner, you won’t have to worry about scams and crypto frauds. The project is authenticated by SolidProof, auditing HDWY smart contracts to ensure there’s no chance of getting hacked.
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