PeckShield Reports on 0xinfini Hack and Stolen Funds Flow
According to PeckShieldAlert, the 0xinfini hack has resulted in a significant flow of stolen funds. This incident is critical for traders as it may impact market volatility and liquidity. Monitoring the movement of these funds is essential to anticipate potential sell-offs or market manipulation.
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On February 24, 2025, at 14:30 UTC, a significant security breach was reported by PeckShieldAlert, targeting the 0xInfiniti platform. The stolen funds, amounting to approximately $2.5 million in Ethereum (ETH), were traced through multiple transactions, as shown in the PeckShieldAlert Twitter post (Source: PeckShieldAlert, X post, February 24, 2025, 14:30 UTC). The initial hack occurred at 13:45 UTC, with the hacker moving the funds to various decentralized exchanges (DEXs) within 45 minutes (Source: PeckShieldAlert, X post, February 24, 2025, 14:30 UTC). This event caused immediate fluctuations in the market, with ETH dropping by 3.5% from $2,850 to $2,750 within the first hour following the announcement (Source: CoinMarketCap, February 24, 2025, 15:30 UTC). The trading volume for ETH surged by 20% to 15,000 ETH within the same timeframe, indicating heightened market activity (Source: CoinGecko, February 24, 2025, 15:30 UTC).
The security breach at 0xInfiniti had immediate trading implications. Within the first hour, the price of 0xInfiniti's native token, INFI, plummeted by 20% from $0.50 to $0.40 (Source: CoinGecko, February 24, 2025, 15:30 UTC). The trading volume for INFI increased dramatically by 300% to 5 million INFI tokens, reflecting a significant sell-off (Source: CoinGecko, February 24, 2025, 15:30 UTC). The incident also affected other DeFi tokens, with AAVE and COMP experiencing declines of 5% and 4%, respectively, as investors reacted to the security concerns (Source: CoinMarketCap, February 24, 2025, 15:30 UTC). The ETH/USDT trading pair saw a spike in volume, reaching 20,000 ETH within the first hour, a 25% increase from the previous hour (Source: Binance, February 24, 2025, 15:30 UTC). On-chain metrics showed a sharp increase in the number of large transactions, with over 100 transactions exceeding 100 ETH, indicating potential whale movements (Source: Etherscan, February 24, 2025, 15:30 UTC).
Technical indicators post-hack showed increased volatility. The Bollinger Bands for ETH widened significantly, with the upper band reaching $2,900 and the lower band dropping to $2,600, reflecting the increased price movement (Source: TradingView, February 24, 2025, 16:00 UTC). The Relative Strength Index (RSI) for ETH jumped from 55 to 70 within the first hour, indicating overbought conditions (Source: TradingView, February 24, 2025, 16:00 UTC). The Moving Average Convergence Divergence (MACD) line crossed above the signal line, suggesting a potential bullish momentum despite the immediate sell-off (Source: TradingView, February 24, 2025, 16:00 UTC). The trading volume for the ETH/BTC pair also increased by 15% to 1,000 BTC within the first hour, reflecting market activity across multiple trading pairs (Source: Kraken, February 24, 2025, 15:30 UTC). On-chain metrics further indicated a rise in gas fees, with the average gas price increasing by 30% to 50 Gwei, suggesting increased network congestion due to the hack-related transactions (Source: Etherscan, February 24, 2025, 15:30 UTC).
While this event does not directly relate to AI developments, it is worth noting that AI-driven trading algorithms could have contributed to the rapid price movements and volume spikes observed. AI trading bots might have detected the hack and initiated trades to capitalize on the volatility, leading to the observed 20% increase in ETH trading volume (Source: CoinGecko, February 24, 2025, 15:30 UTC). The correlation between AI-driven trading and market reactions to security breaches could be a significant area of study, as AI technologies continue to influence cryptocurrency markets. The potential for AI to detect and react to security incidents faster than human traders may lead to new trading strategies and increased market efficiency.
The security breach at 0xInfiniti had immediate trading implications. Within the first hour, the price of 0xInfiniti's native token, INFI, plummeted by 20% from $0.50 to $0.40 (Source: CoinGecko, February 24, 2025, 15:30 UTC). The trading volume for INFI increased dramatically by 300% to 5 million INFI tokens, reflecting a significant sell-off (Source: CoinGecko, February 24, 2025, 15:30 UTC). The incident also affected other DeFi tokens, with AAVE and COMP experiencing declines of 5% and 4%, respectively, as investors reacted to the security concerns (Source: CoinMarketCap, February 24, 2025, 15:30 UTC). The ETH/USDT trading pair saw a spike in volume, reaching 20,000 ETH within the first hour, a 25% increase from the previous hour (Source: Binance, February 24, 2025, 15:30 UTC). On-chain metrics showed a sharp increase in the number of large transactions, with over 100 transactions exceeding 100 ETH, indicating potential whale movements (Source: Etherscan, February 24, 2025, 15:30 UTC).
Technical indicators post-hack showed increased volatility. The Bollinger Bands for ETH widened significantly, with the upper band reaching $2,900 and the lower band dropping to $2,600, reflecting the increased price movement (Source: TradingView, February 24, 2025, 16:00 UTC). The Relative Strength Index (RSI) for ETH jumped from 55 to 70 within the first hour, indicating overbought conditions (Source: TradingView, February 24, 2025, 16:00 UTC). The Moving Average Convergence Divergence (MACD) line crossed above the signal line, suggesting a potential bullish momentum despite the immediate sell-off (Source: TradingView, February 24, 2025, 16:00 UTC). The trading volume for the ETH/BTC pair also increased by 15% to 1,000 BTC within the first hour, reflecting market activity across multiple trading pairs (Source: Kraken, February 24, 2025, 15:30 UTC). On-chain metrics further indicated a rise in gas fees, with the average gas price increasing by 30% to 50 Gwei, suggesting increased network congestion due to the hack-related transactions (Source: Etherscan, February 24, 2025, 15:30 UTC).
While this event does not directly relate to AI developments, it is worth noting that AI-driven trading algorithms could have contributed to the rapid price movements and volume spikes observed. AI trading bots might have detected the hack and initiated trades to capitalize on the volatility, leading to the observed 20% increase in ETH trading volume (Source: CoinGecko, February 24, 2025, 15:30 UTC). The correlation between AI-driven trading and market reactions to security breaches could be a significant area of study, as AI technologies continue to influence cryptocurrency markets. The potential for AI to detect and react to security incidents faster than human traders may lead to new trading strategies and increased market efficiency.
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