SafeMoon Exploited for $8.9M, RenQ Finance (RENQ) Finishes Stage 3 of Presale, Ripple (XRP) Poised for a Big Leap


The crypto ecosystem is always full of surprises, and the past few days were certainly no exception. With the recent exploit of Safemoon losing about $8.9 million, the successful completion of Stage 3 of the RenQ Finance presale, and Ripple (XRP) positioning itself for a major jump, the cryptocurrency world is abuzz with news.

These developments have definitely attracted the attention of investors and traders, and the future of these coins is something to watch closely. In this article, we’ll take a deeper look into each event and analyze their impact on the crypto market.

Safemoon Exploited for $8.9M

Rewritten: SafeMoon is a blockchain-based system, with Metaverse, NFT, and web3 building and innovation incorporated. Nonetheless, since its launch in March 2021, the platform has been the center of legal and scandalous issues.

Recently, the Decentralized Finance (DeFi) project SafeMoon was hacked, as per the reports of security firms. On March 29, the SafeMoon team informed the community that their liquidity pool had been compromised.

The public burn feature allows users to burn tokens from any address. The attacker took advantage of this feature to remove SFM tokens from the SafeMoon WBNB Liquidity Pool, thus increasing the price of SafeMoon’s native token.

In the same transaction, the attacker sold the SFM at an excessive rate, resulting in the depletion of the remaining WBNB in the pool. However, hours after the hack, the perpetrators posted a message in the transaction, expressing their desire to return the funds. According to PeckShield, they had already sent 4,000 BNB worth $1.2 million.

RenQ Finance (RENQ) Finishes Stage 3 of Presale

RenQ Finance is a DeFi platform specializing in AI-friendly interfaces, transparency, and security. The platform recently accomplished Stage 3 of its presale, with investments from investors amounting to more than $4 million.

RenQ Finance has gained considerable interest in the crypto space owing to its potential for development and adoption. The platform’s AI technology and user-friendly interface have attracted investors looking for the next big thing in DeFi.

The end of Stage 3 of the presale is a huge milestone for RenQ Finance as it prepares for its official launch. The platform’s development team will use the funds raised to further develop the platform and extend its features.

RenQ Finance

Ripple (XRP) Readying for a Big Leap

RippleNet, the payment protocol powered by the Ripple cryptocurrency (XRP), has been in the news lately due to the ongoing legal dispute with the Securities and Exchange Commission (SEC). Nonetheless, despite the difficulties, Ripple has been taking significant steps to prepare for a major breakout.

XRP price is currently trading near a critical resistance level, suggesting a potential breakout soon.

Since June 2022, XRP has been trading within a long-term symmetrical triangle. While the support line has been consistent, the resistance line was established in September of the same year.

Although the triangle is a neutral pattern, the movement within it is bullish, backed by two bullish hammer candlesticks formed on January 2 and March 12. The first triggered a significant upward move, and the second may do the same.

If XRP breaks out, the next resistance level would be at $0.46. However, a breakdown from the triangle’s support line could lead to a drop toward $0.30.

In addition, Ripple has been actively working on expanding its payment network globally. The company has made considerable progress, with over 200 financial institutions now utilizing its payment network.

Despite the legal issues, Ripple’s efforts to grow its payment network and its potential breakout make it an attractive investment option for investors looking to diversify their portfolios.


The cryptocurrency arena is always full of surprises, and the events discussed in this article serve to highlight that fact. The Safemoon hack is a reminder of the importance of security in the crypto space, while RenQ Finance’s successful presale demonstrates the potential for growth in the DeFi space.

Finally, Ripple’s ongoing legal battle has not prevented the

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