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According to findings reported by Shinoji Research, there has been a purported data breach on the cryptocurrency exchange Bitfinex, potentially affecting the data of 400,000 users and involving the theft of 2.5 terabytes of data.

Elon Musk, the CEO of Tesla and the new proprietor of the Twitter platform, now rebranded as X, has informed the X and cryptocurrency communities about an enhanced tool to combat deepfake scams on the social media platform.

Weekly Summary: Airdrop Craze and Bitcoin Recovery

This week, cryptocurrency markets experienced turbulence due to macroeconomic influences, while enthusiasts eagerly embraced new tokens from several notable airdrops.

Following the market recovery between May 3 and 4, memecoins once again stole the spotlight. As expected, dogwifhat [WIF] led the pack with a 20.58% increase over 24 hours. Dogecoin (DOGE) also saw a rise of 13.80%, while Pepe (PEPE) experienced a 12.93% increase.

Fantom (FTM) had surged to the $1 mark in March, with hopes high for a further rise to $2. However, the market crash intervened, causing prices to plummet, and Fantom experienced a nearly 50% decrease in value.