AVAX Surges as Avalanche Overcomes Discord Hack

Avalanche Swiftly Resolves Discord Breach

Avalanche swiftly addressed a security breach on its official Discord server, underlining the growing cybersecurity threats within the crypto community. Despite the hack, AVAX demonstrated resilience, breaking out of a descending triangle and rallying on strong buying interest.

Rising Cybersecurity Threats in the Crypto Community

In addition to Avalanche, other notable networks like ZkSync and Polygon have faced similar attacks. As the crypto community continues to grow, so do the threats targeting these platforms. Users are increasingly warned to avoid suspicious links and to be vigilant in their interactions.

• ZkSync’s Discord server was compromised shortly after Avalanche’s breach. Hackers attempted to deceive users with links to a fake “round 2 airdrop” scheme.
• Polygon’s Discord breach resulted in a member losing $150,000 worth of Ethereum. Mudit Gupta, Chief Information Security Officer at Polygon, confirmed the breach and advised users to avoid dubious websites until the issue was resolved.

Swift Response to Discord Breach

Avalanche’s team responded quickly to the Discord breach, regaining control and re-securing the server. Ben Well, the Community Lead, reassured users that the issue was resolved. The team is now focused on restoring normal operations, with efforts underway to recover deleted channels and roles.

AVAX Shows Resilience Amid Market Uncertainty

Despite the security challenges, Avalanche (AVAX) has shown positive momentum in the market. On Binance’s 4-hour chart, the AVAX/USDT pair reveals a breakout from a descending triangle pattern. This breakout was supported by strong buying interest, leading to an upward price movement.

• Fibonacci retracement levels indicate key areas of support and resistance. The recent advance was supported by the 0.5 retracement level at around $25.58.
• The 50-period Exponential Moving Average (EMA) suggests a dynamic level of support, with the price currently in a consolidation phase slightly above this mark at $26.48.
• Higher volume during the breakout signals strong purchasing interest, supporting the bullish outlook. If AVAX maintains its current support level, a move toward the $27.33 resistance level or higher appears plausible.