Community-focused altcoin project Saitama Inu (SAITAMA) has reportedly faced a “major bot attack” following Sunday’s launch of its new SaitaMask app. In an update on Twitter, the team behind Saitama Inu announced that they are throttling the usage of the app to mitigate the attack on the registration API:
We had a massive bot attack that caused some disruption to our API. We would have curtailed usage right now while mitigating the attack. We will update while the application is in normal operation.
Some users claim that their tokens were stolen after connecting to the app. reported
After the app was released and made available to the community, some users reported that their SAITAMA tokens were stolen. This news went viral on social media, and SAITAMA’s price dropped as much as 10% in the last 24 hours. Thus, the price of the token has dropped by over 35% over the past seven days. SAITAMA is trading 71% below the ATH level of 0.0000002777 on November 16, 2021.
Altcoin project hits the spotlight with $200M hack
SAITAMA is an ERC-20 token based on Ethereum . ETH Blockchain is home to a number of community-based cryptocurrencies such as Shiba Inu. The SaitaMask wallet app was launched to provide its community with a more efficient place to store their cryptocurrencies. Since Saitama was created on May 31, 2021, crypto has faced a number of issues, with some users claiming that the project is subject to whale manipulation and displaying incorrect data on platforms like CoinMarketCap. Last month, millions of dollars’ worth of SAITAMA was stolen from crypto exchange BitMart in a hack totaling $200 million.