Unleash Protocol Suffers $3.9M Hack, Impacting Story Protocol
- Hack Incident: Unleash Protocol experienced a hack resulting in a loss of approximately $3.9 million, where the attacker gained administrative control through the multisignature governance system, leading to unauthorized contract upgrades and illegal withdrawals, thereby jeopardizing the platform's operational security.
- Funds Movement: The hacker laundered the stolen funds through Tornado Cash, with early investigations indicating over 1,337 ETH was transferred to the mixer, showcasing the attacker's sophistication and potentially causing long-term damage to user trust.
- Impact on Story Protocol: This incident may stall the progress of Story Protocol, as Unleash is one of its most active applications, with the protocol holding $8 million in liquidity by the end of 2025, and the hack could further undermine market confidence in its ecosystem.
- Market Reaction: Following the incident, Story Protocol's token IP dropped from $1.62 to $1.50, indicating market sensitivity to security issues, and the token has significantly declined from a peak of over $13 earlier this year, reflecting investor concerns about the project's viability.
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Technical Analysis for IP
Technical Sentiment Analysis for Story (IP) As of , Story (IP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for IP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, IP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Story (IP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.274 | 0.666 | 1.011 | 1.404 | 1.748 | 2.141 | 2.486 |
| Fibonacci | 0.666 | 0.948 | 1.122 | 1.404 | 1.685 | 1.859 | 2.141 |
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