Pick your crypto storage wisely

By Emily Milton

Published: Wed 10 Aug 2022, 1:34 PM

8,000 accounts affected

Thousands of Solana (SOL) linked wallets were affected in a hack of magnitude, which saw roughly £5 million drained from Slope Wallets. Slope has come under scrutiny as allegedly all the accounts drained have been linked to the platform, with many in the community calling for users who have slope wallets to burn the accounts and regenerate their seed phrase across different wallets and platforms.

This is why it is imperative that crypto users pick the storage of their assets wisely with investors with large holdings turning to cold wallets for storage. Cold wallets offer the highest level of security for users as it is disconnected from any network and is totally offline. The address and Private Key are not accessible outside of the hardware and thus prevent any hacks from occurring.

Cold wallets however are not cheap, often costing upwards of £400 for the more innovative products which can put off the average investor. Nevertheless, for those who have significant holdings, I would recommend looking into transferring a portion of your crypto to cold wallets to best protect yourself from any potential loss of coins.

Can Axie Infinity recover from its latest hack

Axie Infinity (AXS) face arguably its most difficult and turbulent time in the company’s history after it was alleged that over $600 million were stolen from a hack that started with a fake job offer. An employee who opened a contract for what they believed to be a new job on their work laptop turned out to be malware which enabled access for hackers to drain millions of dollars in cryptocurrency.

This has led to many questioning whether they want to be associated with the platform and the company's CEO also is coming under scrutiny as reports suggest that he moved over $3 million (48,000 AXS) before disclosing the details of the hack. This is insider trading at worst, and questionable activity at best, with users now doubting whether they can trust the site.

But the actual game and the concept behind Axie are brilliant and there is a reason that it sits towards the top of the crypto marketplace. However, ultimately to be successful in the long-run companies have to be trusted and that is why a project like RoboApe (RBA) is starting to become more appealing to the crypto gaming community as a project that will prioritise operability and be community-led.

What Is RoboApe?

RoboApe is the next generation of meme coins by seeking to combine the community-led aspect of meme coins with the genuine utility of coins that help further the blockchain ecosystem.

RoboApe is enlisting an array of services to help enhance all things Web3 and crypto through the RoboApe Academy, which is the project's free education hub to help onboard new users. However, where RoboApe could have the largest upside as a project is through RoboApe Esports.

RoboApe Esports is their native gaming platform where games will be created and the community can have a say over the direction of what games are developed. Moreover, they will create events for already established games from charity functions to pro-level events and participants will be rewarded in RoboApe’s native token RBA. This is a key feature and the company wants to give rewards fairly to participants as the gaming industry is often unmeritocratic in its makeup.

Although RoboApe is only just entering its pre-sale phase the excitement around the project is gaining and a community is already being established. If you are interested in finding more information about RoboApe there will be links below or click here for another article.

RoboApe (RBA)

Presale: ape.roboape.io/register

Website: roboapetoken.io

Emily Milton is the content strategist at New Age Digital.

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