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The post $XRP Hack Spooks Investors Into Seeking Out New Coins – Here’s One of Them appeared first on Coinpedia Fintech News
Last Tuesday, hackers broke into a crypto wallet and made off with $112 million in $XRP, as Ripple’s co-founder and executive chairman, Chris Larsen, shared with the public.
The problem was quickly resolved; the affected accounts were frozen when exchanges were notified, and the matter is now under investigation by law authorities. With the market still shaking from the hack, it’s no wonder investors are eyeing safer bets like Galaxy Fox ($GFOX). So, what happened to $XRP, and is $GFOX truly one of the best altcoins to invest in?
More about the $XRP Hack
The attack originated from a wallet called “Ripple (50),” which was associated with Chris Larsen via many account activations. Beginning in November 2018, this wallet was put up by “FundingWallet1,” which Larsen initiated in early 2013. Ripple was quick to affirm that their activities continued unabated despite the disturbing situation.
Ripple, one of the top 10 altcoins today, has been in the industry since 2012, generating interest with its payment solutions and the XRP Ledger, a key part of its tech. After the hack, $XRP’s market value took a 4% hit, dropping to $27.4 billion, according to CoinMarketCap. In response to this, a number of $XRP users voiced their desire for the co-founders to be more transparent about their wallet holdings.
This is the twenty-first largest crypto theft ever and the largest we’ve seen in 2024. It’s a continuation of a broader pattern that began last year, when attackers made off with about $2 billion worth of cryptocurrencies, highlighting the security challenge in this area.
Galaxy Fox Becomes the Safe Haven for Investors
Following such breaches, investors often seek new and smaller gems that the hackers wouldn’t consider attacking. They’re searching for safe places to invest, where their money is less likely to be at risk. $GFOX is becoming one of the best altcoins to invest in for many, as it’s seen as a new and safe haven with a lot of potential for growth. In addition, the hack revealed to the market the incredibly large holdings that Ripple founders keep in liquidity and are presumably dumping onto the market, which is one possible explanation for $XRP’s sluggish performance while the rest of the market is booming.
$GFOX might seem like just another meme coin at first glance, but it’s quickly proving to be much more by smashing through its presale goals and raising a massive $3.2 million in just a few months. It’s not just a typical meme-coin-related hype, though. $GFOX is making a real mark in the play-to-earn world with an addictive runner game, positioning it as the best ICO crypto opportunity for investors.
Players can earn $GFOX tokens by topping the charts in the game, and they can even boost their chances of winning by grabbing some Galaxy Fox NFTs. Besides being tradable on the largest NFT marketplaces, Galaxy Fox NFTs also tweak your game stats like speed and power, proving to be tangible and useful for every $GFOX community member.
But there’s more to this new ERC20 coin than just gaming. It’s also setting up a sweet deal for those into staking, offering a way to earn some cash on the side. By staking $GFOX tokens, you get a slice of the rewards from the Galaxy Fox Stargate pool, which keeps getting topped up with 2% of every transaction in the ecosystem. So, it’s a gift that keeps on giving.
And to keep things interesting, $GFOX is burning tokens to ensure they stay rare and, hopefully, more valuable. With a total limit of 5 billion tokens, they aim to make $GFOX more precious over time.
The presale stages of $GFOX are designed to ramp up the excitement, with the price going up at each of the ten stages. They’re already six stages down, and the seventh is almost sold out. Early birds who got in on the action have seen their investment grow by about 230%, and that’s expected to climb even higher.
So, it becomes easy to see why $GFOX is becoming a hot pick for those looking for the best altcoins to invest in – It promises safe profits thanks to the gradually increasing price model embodied in its presale structure.
Final Remarks
In the crypto world, the promise of big gains comes with its risks, especially with the constant presence of hackers. After each big hack, investors look for new, less risky ways to make a profit. Such possibilities don’t often present themselves, but Galaxy Fox is making a difference.
With three more presale stages left, there’s still a golden opportunity to get involved and win with $GFOX, so make sure you give this new ICO crypto a look and seize the opportunity at the right time!
Learn more about $GFOX here:
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