🚨 Breaking News: Bittensor's TAO Token Takes a Hit! 🚨
Hey crypto fam! 👋 Just got word that Bittensor's native token, TAO, has plummeted by over 15% in just 24 hours 📉. The price dropped from $281 to $237, according to CoinGecko data. 😬
But don't panic just yet! 😅 The team is on it! Bittensor co-founder Jacob Robert Steeves confirmed that the network is temporarily suspended while they investigate the situation 🔍.
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." 🔒
A community moderator, "const," reported that the team is looking into a possible attack on several Bittensor wallets over the past 3 hours 🕰️. As a precaution, the network has halted all transactions on the chain 🚫.
The Opentensor Foundation, the organization behind Bittensor, hasn't released an official statement yet 🗣️. But we'll keep you updated! 📊
To give you some background, Bittensor is a decentralized AI network that uses blockchain tech to develop, train, and exchange AI models 🤖. The TAO token is an incentive for participants to contribute resources and data to the network's AI training processes 💻.
Stay tuned for more updates on this developing story! 📺
