Upbit faces a whopping $3.4 Billion scam with counterfeit Aptos (APT) tokens

South Korea's foremost cryptocurrency exchange, Upbit, has encountered a significant setback following the detection of a counterfeit deposit on its platform. A duplicitous group of scammers managed to present a sham coin as the authentic Aptos (APT) token, leading to one of the largest digital currency security breaches in modern history.

Timeline of Aptos

A fake token made to look like the real Aptos caused trouble on the Korean exchange Upbit. It made the APT token stop working for a bit because some people managed to put in the fake coins and take out real ones.

APT's on-chain metrics revealed low confidence in the bulls, hence low buying pressure. This could also be considered as a reflection of the weighted sentiment metric which has been hovering near its four-week low for since before mid-August.

Aptos total NFT trades count peaked at 5,751 in mid-June and recently dropped to single digit count. This underscored just how the slow market conditions have affected the network.

Aptos Labs launched the Aptos Assistant to increase the user experience for onboarding new web3 users. The tool, which is hoped to simplify entry into web3, connects web2 and web3 seamlessly for the common internet user and organizations alike.

On-chain data shows the Aptos (APT) trading volume has continued to be extremely high after the rally, a possible sign that more gains may be coming. Aptos Social Dominance Calms Down, But Trading Volume Remains Elevated Yesterday, news came out that tech giant Microsoft has partnered up with Aptos Labs to work on blockchain-based AI tools.

Uniswap (UNI), Polygon (MATIC), and Aptos (APT) are not just acronyms in the crypto lexicon: they represent the cutting edge of transformative technologies, the rise of decentralized finance, and the steady flow of market forces in the crypto world.

Aptos (APT) has scored a major deal with tech giant Microsoft yesterday. However, the announcement of a “partnership” between Aptos Labs and tech giant Microsoft has raised eyebrows and ignited debates across the crypto community if this is just smoke and mirrors.

Back when Aptos announced its collaboration with Microsoft, in which they decided to codevelop AI tools tailored to blockchain integrations, we saw a surge of enthusiasm and an undeniable fear of missing out (FOMO) among crypto enthusiasts. While the initial hype has simmered down, this is not a sign of dwindling interest.

Aptos token registers an 11.6% surge in response to a strategic collaboration with Microsoft, aiming to merge AI and blockchain to drive Web3 adoption. The partnership seeks to introduce innovative solutions and enhance security measures within the Aptos Network ecosystem.

Cryptocurrencies moved sideways on Thursday as traders waited for the upcoming US inflation data. They also wavered after the Securities and Exchange Commission (SEC) moved to appeal the partial victory by Ripple. Bitcoin was still consolidating at $29,500 while Ethereum was stuck at $1,850. Several altcoins were in the green.