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Hackers Break into HeroFi?

The newly launched play-to-earn GameFi protocol, HeroFi, has been attacked by hackers. The platform's $ROFI token was targeted by the hackers a few hours after HeroFi began a server upgrade, according to details released from HeroFi on Dec. 6th.

The attack had an immediate impact on the value of $ROFI. Before the team announced the attack, $ROFI was trading well over $4.5. Following the attack, the value crashed to an all-time low of $0.4271 as the attackers dumped the stolen tokens.

"Currently, the $ROFI Token is being attacked. The HeroFi team is rushing to fix errors and update features to improve transactions," HeroFi alerted the community in a tweet on December 5th.

HeroFi quickly reassured users that their funds were safe. As a security measure to mitigate the loss of assets, the gameplay webpage was shut down, and all activities on decentralized exchanges (DEX) involving the $ROFI token were frozen. The team worked behind the scenes to apply measures to try and contain the threat. 

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On December 6th, soon after completing the server maintenance of its marketplace, HeroFi restored the use of $ROFI:

"Big announcement from HEROFI team - $ROFI IS BACK!! Let's make $ROFI great again. We've come back stronger than ever..." the platform tweeted triumphantly.

Managing the Situation

The HeroFi team has applied a couple of measures to bring stability back to its platform:

• New contract address 

$ROFI token has been migrated to a new contract address as the previous one was compromised in the hack. 

• Liquidity injection

HeroFi will provide liquidity for the new ROFI contract sufficient to restore the value of 1 $ROFI before the hack: $4/ROFI

• ROFI Refunds

The team noted the time the hack took place and took a system snapshot. Holders who did not trade between the time of hack and snapshot will receive an equivalent number of their old tokens once they add the new contract to their wallet. Users who traded from the hack to the snapshot will be reimbursed. 

• Buyback and Burn

The team will use the proceeds from the marketplace for the last 30 days to buyback $ROFI. Every other $ROFI token after the buy-back will be burnt. 

More details about the team's post-attack interventions can be found here.

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Looking Ahead

Hackers are increasingly targeting DeFi protocols. Barely a day before HeroFi came under attack, Bitmart Exchange suffered a security breach valued at $200 million. 

HeroFi has not yet released the value of tokens estimated to have been lost to the hackers. However, it may have been huge for it to draw down $ROFI's price from $4.5 to $0.4271.

These hacks are grim reminders of the risks inherent in crypto. As a rule, unless a user intends to transact on an exchange or DeFi platform, one's crypto assets are better off in one's custody. Here is a BSC News guide on how to keep your crypto assets safe while they are in your custody.

What is HeroFi

HeroFi is a role-playing game NFT-based game. HeroFi removes the entry barrier that is present with most other play-to-earn platforms. It does not require any initial investment barrier. HeroFi is entirely free to play and play-to-earn. HeroFi allows players to collect and trade NFT heroes. In the game, heroes can get married and give birth to a new NFT hero. Players may battle and earn points, go on an adventure to new lands and find more Heroes, or complete quests to gain experience.

$ROFI is the native token of HeroFi. $ROFI plays a crucial part in the sustainable play-to-earn economy of the HeroFi ecosystem and can be traded on decentralized exchanges. 

Where to find HeroFi:‍

Website | Whitepaper | Twitter | Medium | Telegram | YouTube 

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BabySwap No Longer a Micro Cap as Price Soars

The price swing enjoyed by BabySwap has come in complete opposition to the general market pull back endured by nearly all projects. 

$BABY now sits at a healthy $3.87, according to CoinMarketCap, and has a market cap of nearly $500 Million, at the time of writing. The growth has been astounding as the project has done almost 400% in just under seven days. 

This is all the more impressive in the current market climate. The ambitions of the project are fairly clear, and it appears the current good fortune is nothing short of what had been expected:

"It took us almost 6 months from BabySwap to Baby Metaverse, but that’s what we always wanted to do. We believe AMM is the fundamental, NFT is the connector, and GameFi is the final goal, and the data proved us right!” BabySwap Marketing Team Member Auntie Cecilia revealed exclusively to BSC News. 

Many will be buoyed by the huge success the project has enjoyed in the past week against the general market sentiment, as BabySwap attempts to become a pivotal part of the BSC ecosystem. 

There is, however a recognition from BabySwap’s key marketing members that although much has been achieved there is still a great deal to be done if the project is to establish itself as a leading light in the Binance Smart Chain: 

“Thanks to all The Crypto You and BabySwap lovers for all the participation and support, we know we are far from the best, but we are trying to be one. Our data these days is pretty amazing, climbing straight up with steady steps,” Auntie Ceclia continued.  

As the project’s growing market cap suggests, the project is clearly shifting in perception from a Micro Cap to an influential AltCoin. This will certainly do much to keep attracting prospective investors.

“Yet, there are many things that need improvements. We hope everyone in any country could have a place in The Crypto You and find the crypto version of you in the game. Play to earn, and enjoy your life," Auntie Cecilia concluded.

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What is BabySwap

BabySwap is the top Automated Market Maker and Non-Fungible Token decentralized exchange on Binance Smart Chain. It brings a fun and friendly trading experience on top of great project support. 

BabySwap’s token, BABY, trades around $0.07 USD and has a 24-hour trading volume over $30,000 USD. The NFB initiative is one of BabySwap's core NFT products that focuses on DeFi staking. The platform has also recently incorporated yield farming and liquidity mining to help boost the gains of its users. 

Find BabySwap at the following links:

Website | Twitter | Telegram | GitHub |