๐จ Breaking News: Bittensor's TAO Token Takes a Hit! ๐จ
Hey crypto fam! ๐ Just got word that Bittensor's native token, TAO, has plummeted by over 15% in just 24 hours ๐. The price dropped from $281 to $237, according to CoinGecko data. ๐ฌ
But don't panic just yet! ๐ The team is on it! Bittensor co-founder Jacob Robert Steeves confirmed that the network is temporarily suspended while they investigate the situation ๐.
Jacob tweeted: "Hey folks, we're investigating, chain is currently firewalled, we're prepping an update to push it into safe mode, but all transfers are now blocked as we've isolated the validators." ๐
A community moderator, "const," reported that the team is looking into a possible attack on several Bittensor wallets over the past 3 hours ๐ฐ๏ธ. As a precaution, the network has halted all transactions on the chain ๐ซ.
The Opentensor Foundation, the organization behind Bittensor, hasn't released an official statement yet ๐ฃ๏ธ. But we'll keep you updated! ๐
To give you some background, Bittensor is a decentralized AI network that uses blockchain tech to develop, train, and exchange AI models ๐ค. The TAO token is an incentive for participants to contribute resources and data to the network's AI training processes ๐ป.
Stay tuned for more updates on this developing story! ๐บ