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#CryptoMarketsDipSlightly
The SYND token dropped approximately 35% after reports of a possible Syndicate Bridge hack.
PeckShield analysts detected suspicious transactions and large withdrawals from the bridge.
The alleged Syndicate Common Bridge hack shook the crypto market and caused the SYND token price to plummet. Following reports of the incident, the asset's value decreased by about 35% within minutes. The first to report the issue was the analytics firm PeckShield, which monitors blockchain security.
PeckShield recorded suspicious operations in the Syndicate bridge — a service that connects the project to other networks. Experts indicated a possible hack worth around $300 ,000, after which the market reacted instantly: the price of SYND fell from about $0.045 to $0.029, and market capitalization sharply declined.