Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Radiant Capital Breached: Radiant Capital halted lending operations after a major hack drained $58 million from its protocol on BNB Chain and Arbitrum.

2. Warren vs. Deaton U.S. Senate Debate: In the Massachusetts U.S. Senate race debate, Senator Elizabeth Warren and challenger John Deaton clashed over cryptocurrency regulation.

3. 📈Technical Analysis Masterclass - XRP might be gearing up for its next big move. Watch UseTheBitcoin’s latest Youtube video “XRP’s Next Big Pump? Why NOW Might Be the Time to Buy!” to see XRP’s promising signs or join our Official Telegram Channel for more alpha!

4. 🪂Airdrop Essentials🎁: Get the latest airdrop now! Read UseTheBitcoin’s “Assisterr AI Testnet ($ASR) Airdrop Guide” to learn more on how to qualify and participate in the Assisterr AI ($ASR) airdrop!

5. 💡Feature of the Day - Crypto Security Firm Scandal: Ancilia, a crypto security firm, mistakenly shared a malicious wallet drainer link while attempting to help victims of Radiant Capital's $58 million hack.

   
   All this and more in today’s headlines!

📰 News Highlights:

Radiant Capital Breached [Source][Source][Source][Source]

Radiant Capital has paused its lending operations following a major cybersecurity breach that drained an estimated $58 million in funds from its protocol on BNB Chain and Arbitrum.

Web3 cybersecurity firm De.Fi revealed that the exploit leveraged the ‘transferFrom’ function, enabling the attacker to siphon off USDC, WBNB, and ETH from user accounts.

Other experts, including Ancilia Inc., corroborated the loss estimates. Radiant Capital quickly acknowledged the breach and is currently working with several security firms, including SEAL911 and Chainalysis, to mitigate the damage and prevent further exploitation.

The attacker reportedly gained control of several signers’ private keys, allowing them to seize control of multiple contracts.

Pop Punk, a pseudonymous founder of token launch platform g8keep, likened the attack to a schoolyard bully stealing lunch money, emphasizing the critical flaw in centralized multisig systems.

Warren vs. Deaton U.S. Senate Debate [Source][Source]

The U.S. Senate race for Massachusetts took a heated turn as incumbent Senator Elizabeth Warren and challenger John Deaton sparred over cryptocurrency regulation in their first debate on October 15.

Deaton, a Republican candidate and prominent crypto lawyer, accused Warren of neglecting pressing issues like inflation and immigration in favor of building what he termed an “anti-crypto army.”

Warren argued that cryptocurrencies are often used for illicit activities, including terrorism and drug trafficking, while acknowledging that the banking system has failed many Americans.

Deaton, whose campaign is heavily supported by crypto backers, has vowed to challenge Warren's approach if elected.

 📈Technical Analysis Masterclass:

XRP’s Next Big Pump? Why NOW Might Be the Time to Buy!

Bullish Signals from the MACD

• Bullish Crossover: XRP's daily MACD has shown a bullish crossover, suggesting momentum is shifting towards buyers.

• Potential Rally: While early, this is a positive sign that could lead to a sustained rally.

Moving Averages Indicate Strong Support

• Above 200-Day Moving Average: XRP’s price is sitting above this key long-term support level, indicating a bullish trend.

• Converging Averages: The moving averages are getting closer, which could signal an upcoming breakout and increased buying pressure.

Should You Buy XRP Now?

• Support at $0.50: As long as XRP stays above this level, buyers might step in to support the price.

• Risk of Drop: If the price falls below $0.50, further declines could occur.

• RSI Warning: The RSI is in the mid-40s, indicating a lack of strong momentum, which could suggest bearish pressure.

🪂Airdrop Essentials🎁:

Assisterr AI Testnet ($ASR) Airdrop Guide

Assisterr, a decentralized platform focused on community-owned Small Language Models (SLMs), recently launched its testnet.

Users can farm $sASRR points, which will convert to $ASR tokens when the network goes live.

Backed by $1.7 million in funding from top Web3 investors like Outlier Ventures and Web3 Ventures, Assisterr aims to empower communities to build and monetize AI models on the Solana blockchain.

The project is also part of Google’s AI Startup program, receiving a $350,000 grant to support its infrastructure. Want in on the airdrop? Check out our Assisterr AI Testnet ($ASR) Airdrop full guide!

💡 Feature of the Day: 

Crypto Security Firm Scandal [Source]

Ancilia, a crypto security firm, found itself in a scandal after inadvertently sharing a wallet drainer link while attempting to help victims of Radiant Capital's $58 million hack.

In an X post on October 16, the firm shared what it believed was an official link for users to revoke permissions on the compromised Radiant protocol.

However, the link directed users to a wallet drainer, which could have siphoned their funds if permissions were granted.

The mistake was quickly flagged by crypto commentator Spreek, who called out Ancilia for failing to properly vet the link before sharing it with the public.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com