Major Dogecoin hack

69% of its nodes crashed - more details here....

GM Explorer,

Dogecoin, one of Elon Musk’s favorite coins, just took a major nosedive—and it’s a serious one.

The cause? A mix of negligence and possibly a bit too much confidence. Curious about the details? Stick around to find out.

Here’s what we got for you today:

  • 😱 Major Dogecoin hack!

  • 💃 Ukraine set to legalize crypto in 2025!

  • 🔎 Market Insight

  • 🧱 Around the Block: BlackRock and Fidelity bought half of billion dollars in Ethereum.

 😱 Major Dogecoin Hack!

Dogecoin just had a rough day—like “chasing its tail and tripping over” rough.

A critical vulnerability, ominously dubbed DogeReaper, took out 69% of the network’s nodes, leaving the once “resilient” meme coin wobbling while its fans wondered if this was the beginning of the end.

And here’s where it gets wild: Andreas Kohl, co-founder of Bitcoin sidechain Sequentia, exposed the flaw using an old laptop from El Salvador.

Yep, the kind of laptop that probably still struggles to stream YouTube without buffering.

But before you grab your pitchforks, let’s be clear—Kohl wasn’t out to wreck the network. Oh no, he was just making a point. And boy, did he.

The network’s active nodes plummeted from 647 to just 315 in the blink of an eye!

The bug, flagged earlier this month by the X account “Department of DOGE Efficiency,” works by triggering a segmentation fault—basically another way of saying it crashes nodes faster than you can say “to the moon.”

They even warned that a determined attacker could use ‘DogeReaper’ to bring the entire network to a standstill, freezing transactions and halting block production for days.

Terrifying, right? Well, here’s another kicker:

Security researcher Tobias Ruck actually discovered this vulnerability back in February and guess what? Coinbase only offered him a measly $200 bounty, calling it “low severity.”

Critics are now roasting Coinbase for the brush-off, saying it delayed critical fixes and left Dogecoin vulnerable to disaster.

As of now, Dogecoin’s developers are in full damage-control mode, scrambling to patch things up while dodging awkward questions about how this bug went unnoticed for so long.

Meanwhile, the Dogecoin community, known for its unwavering loyalty, is grappling with the sobering truth that even the chillest, most beloved meme coins need hardcore security to survive.

If Dogecoin’s true charm lies in its resilience, this might be its ultimate test. And who knows? It could even redefine the entire “meme coin” narrative along the way.

Curious to dig deeper? The full story awaits.

💃 Ukraine Set to Legalize Crypto in 2025!

Ukraine’s crypto journey is quite remarkable.

The country evolved from a 2014 Bitcoin ban to a thriving digital economy, with its crypto adoption skyrocketing between 2023 and 2024.

We’re talking a staggering $106.1 billion in inflows.

And as inflation hit the national currency hard, decentralized exchanges and Bitcoin became lifelines for many.

Even more boldly, they’re set to legalize cryptocurrency in the first quarter of 2025.

Yep, that’s right! The government is set to finalize a transformative draft law in collaboration with the IMF and the National Bank of Ukraine.

The aim of this is to align with the EU's MiCA framework and bring transparency and safety to the crypto space.

However, there’s a twist: Tax exemptions won’t be part of the plan.

Profits from crypto will be taxed like securities once converted to fiat currency, reflecting a cautious yet strategic approach.

If this legislation happens, it could cement the country's place as a crypto leader in Eastern Europe and a model for the future!

Dive into the full story here!

🧱 Around The Block

That's all we've got for you today.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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