Binance Charity is committed to supporting affected communities đ»đł
In response to the devastation caused by the recent Typhoon Yagi in northern Vietnam, Binance Charity is committed to supporting affected communities. We will distribute up to $1 million in BNB to Binance users in the most affected areas.
Users who complete their Proof of Address (POA) by September 10, 2024 will receive $50 worth of BNB directly into their Binance accounts. For those who complete their POA between September 10 and 30, 2024, $20 worth of BNB will be airdropped.
The first donations will be made starting September 16, 2024.
@Richard Teng , CEO of Binance said, âWe extend our sincere condolences to those affected by Typhoon Yagi. We hope our support will bring some comfort to those affected. We stand in solidarity with the community and hope for a speedy recovery.â
Binance Charity has already conducted several philanthropic initiatives in Vietnam, including saltwater filtration systems and medical supply donations.
đš Shocking Smart Contract Exploits You Need to Know! And How to Avoid Them đš
Learn from recent attacks to secure your project:
1ïžâŁ Euler Finance Hack (2023) - $197M loss What Happened: Euler Finance was hit by a flash loan attack exploiting vulnerable code that allowed unauthorized liquidation, manipulating token prices and draining funds. Solution: Implement stringent checks for flash loans and enhance protocol security through rigorous code audits and simulations.
What Happened: The attacker found a loophole in the bonding curve mechanism, manipulating pricing data to drain the protocol by minting tokens at a significantly undervalued rate. Solution: Secure bonding curves and pricing oracles, and validate input data through multiple sources.
3ïžâŁ Mango Markets Exploit (2023) - $114M loss
What Happened: The attacker manipulated the price of Mangoâs native token via low liquidity to borrow funds beyond the collateralâs worth, draining the protocol. Solution: Implement robust price oracles, limit borrowing power, and monitor for abnormal trading behavior.
4ïžâŁ Level Finance Exploit (2024) - $1.1M loss
What Happened: A bug in the reward calculation allowed the attacker to claim rewards multiple times, draining the protocol gradually through repeated exploitation. Solution: Validate all reward claims, add safeguards against repeated claims, and regularly audit reward mechanisms.
5ïžâŁ Tornado Cash Governance Attack (2023) - $20M taken What Happened: An attacker gained control of the governance contract using a malicious proposal, allowing them to drain funds from the treasury without proper checks. Solution: Strengthen governance security with time locks, community review, and enhanced multisig controls.
Staying updated on these attacks helps fortify your smart contracts against evolving threats!đĄïž
I'm delighted to share this news with you. I've been awarded the Content Angel badge for sharing content on Square. Thank you to the team for this honor. Don't hesitate to follow me đ @Binance Angels @Binance @ćžćźćčżćș
Here are some tips to implement on telegram, if you haven't already, to avoid the pitfalls and improve your experience.
1) Avoid scams
> Prevent you from being included in groups One of the most well-known scams on Telegram is the clone group.
Ex: You are on a project group, a scammer creates an identical group with the same messages, and releases a fake contract or a Phishing link (many have already fallen into the trap) $BTC $ETH $TON đTo avoid it: Go to your settings > privacy & security > groups and channels > Nobody
2) Privacy
By default, your phone number is visible to everyone. đTo avoid it: Go to your settings > privacy & security > Number > Person
3) Improve your experience
Quickly, you can end up with a hundred groups/conversations. Folders allow you to sort all these conversations by category. đ Settings > Exchange folder > Add folders (Personally, when I set this up, it changed my life on telegram) #TelegramCEO #CryptoMarketMoves #CryptoForEveryone
Kudos to all @Binance Angels who contribute their content on Binance Square!
We are excited to announce the launch of the special digital "Content Angel" badge, now awarded to active Binance Angels. This badge is a token of recognition for their unwavering commitment to sharing insightful content, engaging with the community, and fostering a collaborative environment.
Keep up with the latest activities and contributions from our Angels by following their Square account.
And this time, it was clearly predictable The graph below shows us the amount of $BTC held by Long Term Holders since the end of 2021 đ
These Long Term Holders are partly made up of Smart Money and Whales đŻ
And historically, they are the ones who make the most of the profits on the market!
We also see the price of BTC (black line) over the same time interval
âïž What do we notice?
We clearly see that these Holders sold absolutely nothing in 2023 đ
The year in which $BTC recorded a large part of its rise linked to the #Bitcoin ETF rumor
However, one element clearly stands out đ
These Holders have đșđźđđđ¶đđČđșđČđ»đ đœđżđ¶đđ đ±đČđ đœđżđŒđłđ¶đđ in early 2024 (~1M $BTC !)
This coincides perfectly with the acceptance of these famous ETFs â
Once again, the most popular adage of the financial markets has proven true be true:
According to the chart, we are seeing a clear change in trend at the moment đ
Indeed, LT Holders have been accumulating BTC again for a few weeks now.
They are taking advantage of the capitulation to buy at "discount prices" while the general public panics (Fear and Greed in the red zone) đŻ Smart money accumulates when mass capitulates, To conclure, we still have an element that leads us to think that the best is yet to come đ„
It is obviously necessary to compare it with other relevant elements to complete the analysis..
And let's not forget to qualify the statement given the uncertain macroeconomic situation..
It's an honor for me to be named #BinanceâŻâŻâŻ Angel of the Year đ for the Africa community.Thank you to the @Binance family for choosing me as "Community Dynamo"for Africa at the Angel 2024 award. Congratulations to all the winners, and let's keep building together.
Main Takeaways Each year, we take a moment to highlight the invaluable contributions of Binance Angels â our volunteer community ambassadors â and honor those whose work has been the most remarkable with special awards.Winners are carefully chosen by a committee consisting of fellow Angels, managers, and Binance team members.We proudly awarded honors to 15 exceptional Angels for their outstanding efforts and dedication to our community.
This year, we proudly recognize 15 outstanding Angels who have been nominated and chosen by a committee consisting of fellow Angels, managers, and members of the Binance team. These awards span categories including "Angel of the Year," "Rising Star," "Content Creator" and more. As every year, selecting the winners proved extremely difficult. Passionate about Binance and digital assets, the nominees have all done incredible contributions to support our community over the past year. Weâd like to acknowledge the dedication of all our Angels, whose activities â from moderating community platforms on social media to educating and guiding new users â is absolutely essential to the growth and success of the Binance ecosystem.
This Year's Winners Individual Achievement We recognized 15 Angels who received the highest number of votes, acknowledging their outstanding contributions, alongside local community champions. Further details can be found in the next section.
Regional stars This yearâs awards also featured regional recognition, honoring outstanding Angels from diverse geographies â our so-called local âCommunity Dynamos:â
We extend our congratulations to all nominees and winners for their remarkable achievements this year. If you're inspired by their dedication and want to contribute to our community, consider becoming a Binance Angel. Visit our guide on How to Become a Binance Angel to learn more. Join the Angels Program Become part of a global network of passionate individuals who share a commitment to Binance and the broader Web3 ecosystem. Your involvement can make a significant difference. For more information on joining the Binance Angel Program, visit: https://www.binance.com/en/event/angels Further Reading How to Become a Binance Angel Binance Angel ProgramMeet Our Longest-Serving Binance Angel: Life as a Binance Angel
âïžMoments Celebration highlights: đžExperience sharing: each team member shared their experience and journey with the community. đžCake cutting 7Yđ đžMessage from Binance CEO Richard Teng to the community. đžEntertainment and Games: interactive activities that gave winners Binance swags. đžMeeting and networking: A unique opportunity to meet industry enthusiasts and professionals.
Thank you to everyone who participated and helped make this event a success.
Let's continue to build together a more inclusive and innovative financial future through blockchain.
Here are 7 traits common to the best investors I know đ
â They think long-term (5, 10 or even 20 years). â They ignore the constant noise of social networks. â They invest in few assets but with solid convictions. â They have a mind of steel and unshakeable patience. â They're not looking for the next nugget x100. â They take a passive approach to investing (buy & hold).
This is the exact opposite of what most people do:
â They think short-term (a few weeks, months or a cycle). â They spend their days scanning social networks. â They invest in too many assets without real convictions. â They give in easily to FUD and FOMO. â They chase the next nugget that will make them rich. â They're hyperactive and try to time the market.
Some succeed despite this, but these are the exceptions.
Most will lose their money and blame the market.
A small number will question themselves and, with hard work, become better investors in the future.
"Know your enemy and know yourself, and you can fight a hundred battles without disaster." - Sun Tzu Understanding the methods attackers use to drain cryptocurrency wallets is crucial for safeguarding your assets. Here are my subjective top eight wallet drain attack vectors:
1. Classic Phishing : This is the most common type of attack where a phishing website tricks you into signing a malicious transaction. If your wallet app has an embedded transaction simulator, it can help you verify the legitimacy of the transaction before you confirm it.
2. Phishing with Zero Transfer: In this sophisticated phishing attack(drainer), users are tricked into signing a transaction using a malicious contract similar to the Permit2 signing mechanism used in services like CowSwap. Transaction simulators cannot detect token transfer. To avoid falling victim, always verify what you are signing and use wallets that accurately display the approval information.
3. DNS Hijacking: In this attack, the legitimate website is replaced with a fake one through DNS hijacking. When you interact with this fake site, you end up interacting with a malicious contract. Using a wallet that issues warnings about new contracts, even for frequently visited sites, can help mitigate this risk. Always check why the contract is flagged as new.
4. Seed Phrase Scam: This classic scam involves an attacker posing as customer support and convincing you to enter your seed phrase. While many people are now aware of this trick, it remains a potential threat. Never share your seed phrase with anyone. Another variation of the seed phrase scam involves downloading a fake wallet app that asks for your seed phrase. Always download wallet apps from official sources to avoid this trap.
5. Address poisoning: In this attack, the attacker sends a transaction to your wallet from an address that closely resembles one of your frequently used addresses. Do not copy-paste address from past transactions and use address book.
6. Targeted Malware: In this type of attack, malware is delivered through seemingly harmless files like Microsoft Office documents. When you open these files, malicious code executes and steals your hot wallet seeds. Using a cold wallet can mitigate this risk.
7. Fake Extension or Trojan Malware: Similar to fake apps, malicious browser extensions or trojans can alter your clipboard or transactions, directing funds to the attacker. To avoid this, use a hardware wallet and verify that the contract address shown on your computer matches the one displayed on your hardware wallet.
8. Low Entropy Seed Generation: Some wallet apps might use a vulnerable random number generator to create seeds, making them easy to crack later. Mitigate this by using well-established open-source wallets, and consider adding an additional passphrase to increase security.
Beware of scammers posing as @Binance employees More and more scammers are posing as Binance employees and requesting identity information and transaction credentials from users via third-party communication tools such as Telegram and Whats. They request this sensitive information and use it to resell information or commit fraud. #Binance #Security #Cryptocurrency"
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