• Bots on Friend.tech have earned over $2 million in profits from acquiring newly registered profiles.
• The platform has generated over 45k ETH ($70 million) in cumulative volumes since launching.
• Coinbase CEO, Brian Armstrong, and Circle CEO, Jeremy Allaire, commented on the platform’s growth.
Bots Earn Over $2 Million on Friend.tech
Data about decentralized social media platform Friend.tech shows that automated bots have secured over 21,800 keys and earned $2.1 million in profits by acquiring newly registered profiles cheaply before selling them at a higher price. One bot in particular acquired 96 profiles worth nearly 260 Ethereum (ETH), which would be worth roughly $600,000 in profits.
Cumulative Volumes Reach 45k ETH
Since launching on Aug 10th, Friend.tech has seen over 2 million transactions and generated over 45k ETH ($70 million) in cumulative volumes as more than 100,000 people gave it access to post as them via leaked db info. The past 24 hours saw the platform generate more than $300,000 in fees with a revenue of $161,000.
Notable Comments From CEOs
Coinbase CEO Brian Armstrong noted that Friend.tech can play an important role in the growth and adoption of Base while Circle CEO Jeremy Allaire said its growth is a compelling use case of BusinessSocialFi .
Features & Security Concerns
Friend Tech allows users to tokenize their social connections for features like private messaging and interaction rights; however its increased popularity is attracting hackers who gain access to user data from API clarifications made by the platform itself .
Conclusion
Friend Tech has proven to be a successful social media platform thus far with bots earning massive profits and notable comments from big names such as Brian Armstrong and Jeremy Allaire . The platform offers unique features but also comes with security concerns such as potential data breaches caused by API clarifications .