ADA Spikes 15% as IOHK CEO Touts Cardano’s Plutus in Wake of MonoX Hack

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ADA, the native crypto asset of the Cardano blockchain, is up 15% in the last 24 hours

CEO of IOHK Charles hoskinson touts Cardano’s Plutus in the wake of the MonoX hack. ADA, the native crypto asset of the Cardano blockchain, has grown 15% in the past 24 hours.

MonoX Finance, a blockchain firm, said on Wednesday that a hacker stole $31 million by leveraging a bug in the software it uses to generate smart contracts.

According to MonoX Finance, an accounting glitch in the company’s software allowed an attacker to inflate the price of the MONO token and then use it to cash out all other deposited tokens. The exploit totaled $ 31 million in tokens on the Ethereum and Polygon blockchains, both supported by the MonoX protocol.

Plutus is the Cardano blockchain’s smart contracts platform, which enables users to create applications that interact with the network. Plutus contracts use Haskell as their programming language.

At the time of going to press, Cardano (ADA) was trading at $ 1.70 after hitting highs of $ 1.74 today.

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