Using vast amounts of computing power, often manifested in private server farms owned by mining collectives that comprise dozens of individuals, miners use highly technical methods to verify the completeness, accuracy, and security of currencies’ blockchains.
SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.

We’ve seen Bitcoin hit multiple new all-time high prices, regulatory talks with potential to have big impact on the industry, and more institutional buy-in from major companies. All the while, people’s interest in crypto has skyrocketed this year: it’s a hot topic not only among investors but in popular culture too, thanks to everyone from long-standing investors like Elon Musk to that kid from your high school on Facebook.
This is the latest in a string of recent high-profile trading problems in crypto. Synthetify, a new decentralized exchange, was forced to shut down for a while earlier this month shortly after its debut because of bad data provided by the Pyth Network, a price feed backed by some of the world's most well-known trading and exchange firms. Pyth malfunctioned another time in September, erroneously making it appear that Bitcoin had crashed 90%.