FEG coin has been plagued with problems for the past few days, including cybersecurity issues in their network. It has also been in a downward trend for weeks now. The FEG coin is already down by a percentage point in today’s trading session. The downward push is also looking likely to continue throughout the session.
This week alone, multiple reports indicate that FEG has been hacked twice. The reports also indicate that hackers who exploited the Swap2Swap functionality of the cryptocurrency emptied the entire contract. There are also indications that these cyberattacks may have resulted in the loss of millions of dollars of investors’ money.
In response to the reports of these hacks, the Feed Every Gorilla team has come out to assure their users that they are addressing the problem. In a series of tweets, the FEG social media team highlighted steps they are taking, including the removal of the Swap2Swap functionality. The team indicated that the Swap functionality was the only path that hackers used to exploit their networks. They also indicated they had updated their network security. This was an assurance to their investors that they were addressing problems with their network. The statement also indicated they were testing the network to ensure that it is safe for its users.
FEG coin Price prediction
Feg currently is currently trading at $7.9e-10. Recently the price of FEG coin dropped below the $1.5e-10 support level. Since then, the prices have been moving aggressively downwards, and there is a high likelihood that we will see the bearish trend continues.
My FEG coin prediction expects the trend to continue downwards. This is partly due to the recent cyberattacks on the network. As long as investors are not confident that their digital assets are safe in the platform, the platform will continue to go downwards. Investing in FEG coin is also risky right now due to recent cybersecurity issues. However, if the platform is able to address the problems plaguing the platform, there is a likelihood that it can start moving upwards.
FEG coin Daily Chart
