The post Monad Airdrop Farmer Spends All $112K On Failed Trades appeared on BitcoinEthereumNews.com. A crypto airdrop farmer lost more than $112,000 in newly issued tokens by burning the entire reward on failed blockchain transactions. In crypto, a professional airdrop farmer (or squatter) is a person who interacts with emerging protocols solely for the airdrop rewards, often using multiple wallets to compound the rewards. Cryptocurrency wallet 0x7f4 received about $112,700 worth of Monad (MON) tokens as a reward for activity leading up to the launch. In an unfortunate turn of events, the trader lost the entire $112,000 across hundreds of failed blockchain transactions, which all deducted gas fees despite not being completed, according to blockchain data from Solscan. “Congratulations to 0x7f4e…fa7d who managed to spend their entire Monad airdrop (112.7k) on failed txn fees,” wrote crypto investor Joe, in a Monday X post. Transactions for wallet 0x7f4. Source: Solscan Related: Nasdaq-listed Enlivex plans $212M RAIN token play with ex-Italian PM onboard The incident serves as a reminder to run test transactions before large-scale transfers, which involve users sending a small amount of funds to the destination address to verify that the transfer parameters are correct. Based on the transaction patterns, the user behind the wallet probably submitted hundreds of transactions in a short time, likely through a script, but didn’t notice that the first transactions had begun failing. Related: $1.9B exodus and flicker of hope hits crypto investment funds: CoinShares SlowMist warns of Monad claim portal hack The incident came as some Monad airdrop recipients reported missing allocations. According to Cos, founder of blockchain security firm SlowMist, a vulnerability in the Monad claim portal allowed hackers to bind a user’s allocation to an attacker-controlled wallet. Multiple users reported not receiving their airdrop shares, which were “bound to a hacker’s address” before the allocation was disseminated, wrote Cos in a Tuesday X post. Cos said… The post Monad Airdrop Farmer Spends All $112K On Failed Trades appeared on BitcoinEthereumNews.com. A crypto airdrop farmer lost more than $112,000 in newly issued tokens by burning the entire reward on failed blockchain transactions. In crypto, a professional airdrop farmer (or squatter) is a person who interacts with emerging protocols solely for the airdrop rewards, often using multiple wallets to compound the rewards. Cryptocurrency wallet 0x7f4 received about $112,700 worth of Monad (MON) tokens as a reward for activity leading up to the launch. In an unfortunate turn of events, the trader lost the entire $112,000 across hundreds of failed blockchain transactions, which all deducted gas fees despite not being completed, according to blockchain data from Solscan. “Congratulations to 0x7f4e…fa7d who managed to spend their entire Monad airdrop (112.7k) on failed txn fees,” wrote crypto investor Joe, in a Monday X post. Transactions for wallet 0x7f4. Source: Solscan Related: Nasdaq-listed Enlivex plans $212M RAIN token play with ex-Italian PM onboard The incident serves as a reminder to run test transactions before large-scale transfers, which involve users sending a small amount of funds to the destination address to verify that the transfer parameters are correct. Based on the transaction patterns, the user behind the wallet probably submitted hundreds of transactions in a short time, likely through a script, but didn’t notice that the first transactions had begun failing. Related: $1.9B exodus and flicker of hope hits crypto investment funds: CoinShares SlowMist warns of Monad claim portal hack The incident came as some Monad airdrop recipients reported missing allocations. According to Cos, founder of blockchain security firm SlowMist, a vulnerability in the Monad claim portal allowed hackers to bind a user’s allocation to an attacker-controlled wallet. Multiple users reported not receiving their airdrop shares, which were “bound to a hacker’s address” before the allocation was disseminated, wrote Cos in a Tuesday X post. Cos said…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more