Roll Wallet Hack Sends Social Cryptos Crashing

While bitcoiners were celebrating their wins this weekend, there was trouble on the other side of the crypto community.

A number of social tokens, or cryptocurrencies supporting online communities, crashed on Sunday after a reported security breach at Roll.

READ MORE: Like Clockwork: Bitcoin Breaks Above $60k To New All-Time High

Tokens like WHALE, RARE, and PICA tanked more than 50 percent earlier today, according to data provider CoinGecko. The RLY token of competing social money platform Rally however jumped to new all-time highs.

The founder of WHALE, a social coin underpinned by a basket of non-fungible tokens (NFTs), confirmed the hack on Twitter, stating that 2.17 percent of the coin’s supply has been compromised and the rest is secure in the cold storage.

Roll facilitates the sending and receiving of social money from the Ethereum blockchain and within the Roll network.

According to MyCrypto.com, the malicious entity that executed the Roll hack is now sending 100s of ether to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.