$MCADE token recovers by 260% following BingX hack
Earlier today, a security breach at BingX Exchange impacted several tokens, including $MCADE. In light of this incident, the response from the Metacade community has been nothing short of remarkable, with the $MCADE price recovering in just 6 hours, bouncing back in impressive fashion.
Significant Price Drop and Rapid Recovery
At the moment of $MCADE hacked tokens being sold, the $MCADE price dropped to $0.001757. However, an incredible recovery of over 260% in value, sees the $MCADE token price rebound to $0.0063 at the time of writing.
Collaborative Efforts for Compensation and Buybacks
Metacade and BingX are working closely together to ensure all compensation for lost $MCADE tokens will be committed to buybacks on the open market. BingX has acted swiftly in response to the breach, demonstrating their commitment to resolving the situation.
Statement from Metacade’s CEO
“We want to thank BingX for their clear and open communication as we work towards a full resolution. The rally from the Metacade community has been incredible and we sincerley thank everyone for their support,” said Russell Bennett, CEO of Metacade.
Source: https://blockchainreporter.net/metacade-community-rallies-following-bingx-hack/