Super Sushi Samurai (SSS), a newly launched altcoin, has suffered a significant security breach.

As of the latest update, SSS’s market value has dropped to $0.000000000002239, marking a devastating 99% decrease. Likewise, its 24-hour trading volume spiraled down to $9,570.9.

The breach was first detected and announced by Certik, a leading security firm specializing in blockchain technology. According to Certik, the Super Sushi Samurai token experienced a critical incident on the Blast platform. It led to a substantial loss of approximately $4.6 million.

Despite the alarming nature of the breach, Certik clarified that the incident involved a white hat rescue operation. The firm suggested that the actions taken were aimed at preventing further damage rather than exploiting the system for malicious gain.

The Super Sushi Samurai team quickly responded to the crisis by halting all token transfers and launching a thorough investigation into the exploit, which was identified as related to the minting process.

“Pausing token transfers and investigating. We have been exploited, it’s mint related. We are still looking into the code,” the team disclosed.

Read more: Identifying & Exploring Risk on DeFi Lending Protocols

Efforts to communicate with the exploiter are currently underway. This incident has rattled the cryptocurrency market, reminding investors of the paramount importance of security.

The post Altcoin Super Sushi Samurai (SSS) Plummets After Security Breach appeared first on BeInCrypto.

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