Following an unfortunate incident, the altcoin Script Network (SCPT) encountered a security hack yesterday afternoon, leading to a significant portion of the token supply being transferred to the hacker’s wallet. In response to this hack, the team is taking decisive action by transitioning to a new contract and initiating a fork within the next few hours.
Rapid Response to Script Network (SCPT) Hack
The Script Network team has announced that they are diligently working to address the security incident immediately. The upcoming transition is designed to restore normalcy and ensure that token holders are not adversely affected by the attack. It was stated that a comprehensive update will be made as the situation unfolds.
In a statement that emphasized no manual action is needed from the community, the transition process will be automatically carried out by the relevant exchanges and the Script Network team, along with token adjustments. Token holders will have the same amount of tokens they had before the hack.
Warning Note Regarding Token Transactions
During this transition period, token holders are advised to refrain from any buying or selling activities. Attempting to do so could lead to financial losses as liquidity has temporarily disappeared. The Script Network team has assured the community that the liquidity is intact and the company’s treasury has not been affected by the security incident.
Script Network is also committed to transparency throughout this process. Following a thorough investigation, additional details regarding the hack will be provided to the community.
A Significant Move for Community Safety
In the face of these adversities, Script Network is taking swift and decisive action to address the security incident. The upcoming token transition and fork underscore the commitment to the community’s safety and well-being.
Token holders will wait for the Script Network team to restore normal operations and provide transparent updates as the situation unfolds. It is especially noteworthy that Altcoin SCPT was listed on the Bitget, Kucoin, and MXC exchanges on December 20th.
The hacking of a new cryptocurrency in this manner and the announcement of transactions on exchanges is certainly concerning. Token investors are currently unable to perform any transactions with their cryptocurrency holdings.
What is Script Network (SCPT)?
Script Network is an open-source, Layer-1 focused live television platform, protocol, and storage network. One of its core products, Script TV, is the first watch-to-earn live television platform created to reward viewers, provide video storage, and redefine video advertising for the crypto industry.
