ReachMe protocol patched a vulnerability allowing a lower fee for reaching KOLs

Source Cryptopolitan

ReachMe, a paid connection platform to reach KOL accounts, has discovered a bug that allowed sending messages for a smaller fee. SlowMist discovered the bug, allowing ReachMe to retain its regular fee structure. 

The crypto world has another currency – attention. ReachMe aims to filter that demand by creating a fee-based model to reach Key Opinion Leaders (KOLs). 

Recently, the Slow Mist investigation team found a bug on ReachMe, which allowed users to reach KOLs for a much lower fee. A team of white hack hackers managed to test the bug and alert the team for patching. 

The ReachMe service launched this Thursday and has already attracted big names in the crypto space. The app focuses on verified X accounts among crypto influencers, giving them a way to tokenize their outreach. KOLs have already received outsized attention for their paid shilling of projects. For some, the reach fee may be an additional obstacle or a way to earn more from their social media clout.

ReachMe will work as a tokenless protocols, and the team has warned against any token launch announcements. The service uses BNB for its fees, with three major price tiers. All verified accounts can also alter their fees to reflect demand. Despite this, there are multiple attempts to present new tokens as belonging to ReachMe. 

Binance’s ‘CZ’ Zhao draws attention to ReachMe

ReachMe gained popularity after Binance’s founder Changpeng ‘CZ’ Zhao added a link to his profile a few days ago. Zhao picked the project for explicit endorsement and is also seen as the inspiration behind ReachMe, suggesting the idea of paying with crypto to increase the chance of a response. 

Zhao explored the idea of pay-to-reach in a recent blog, aiming to filter and limit requests and irrelevant information. Later, Zhao received the pitch for ReachMe, an already working prototype for paid communication. 

The influence of Zhao was already big on X, leading to multiple contact requests. He tested different pricing tiers on ReachMe, raising fees up to 1 BNB ($625.30) for message requests. Previously, fees of 0.1 BNB and 0.04 BNB led to a flood of hundreds of messages. Zhao explained he tried to answer as many questions as possible, though finding the task overwhelming after opening his inbox for a lower fee.

Zhao explained his goal is to set the price high enough to receive just 10 daily requests for outreach. He announced all proceeds from ReachMe will go toward supporting projects in the Binance ecosystem, or for buying tokens as a sign of support. Alternatively, the proceeds may go toward charity.

Zhao said he liked the ReachMe system, and it could be useful for multiple crypto KOLs. Similar pay-to-reach systems have been set up with fiat, but this is the first crypto-only app that has the chance of becoming the main hub for the crypto community. 

ReachMe is already hosting several tiers of KOLs, with fees starting from 0.01 BNB. The highest fee was set by @Llamaxbt, asking for 69 BNB. Medium fees range from 0.5 to 1 BNB, as Zhao is still in this category. The new service is still testing the attention of users. Some of the accounts ended up receiving advertisements, which somewhat justified the fees. 

ReachMe’s popularity and fee potential depend mostly on X account outreach. Zhao’s account has been targeted mostly for Binance’s business opportunities. The flood of messages made Zhao request shorter communication with clear points while directing requests to the Binance team for technical questions.

ReachMe is not the only service for paid influencer inboxes. Pay To Reach launched on March 24, also claiming to be inspired by Zhao’s post. The project offers point mining in addition to a paid inbox. The service, however, is still attracting KOLs and has not grown its list of influencers.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD struggles to extend recovery above 20-day EMAGold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.
Author  FXStreet
11 hours ago
Gold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.
placeholder
WTI Crude Oil Price Forecast: OPEC Production Increase Combined With Hormuz Strait Navigation May Drag Prices Down to $60.As of the Asian session on July 6, WTI ( USOIL) crude oil prices extended last Friday's rebound during intraday trading, peaking at $69.26 before consolidating around $68.60. From a techn
Author  TradingKey
12 hours ago
As of the Asian session on July 6, WTI ( USOIL) crude oil prices extended last Friday's rebound during intraday trading, peaking at $69.26 before consolidating around $68.60. From a techn
placeholder
Japanese Yen declines towards 162.00 vs USD as carry trades counter intervention risksThe USD/JPY pair builds on its goodish recovery from the 160.50-160.45 region, or over a two-week low touched on Friday, and gains strong follow-through traction for the second straight day on Monday.
Author  FXStreet
15 hours ago
The USD/JPY pair builds on its goodish recovery from the 160.50-160.45 region, or over a two-week low touched on Friday, and gains strong follow-through traction for the second straight day on Monday.
placeholder
TradingKey Daily Market Briefing: OPEC+ Continues Output Boost, Oil Prices Under Pressure, Gold Rebounds, Bitcoin Stands Above $63,000Tracking Market TrendsTradingKey - On July 6, pre-market Eastern Time, as the US stock market was closed last Friday for the Independence Day holiday, investors turned more to commodities, foreign exc
Author  TradingKey
20 hours ago
Tracking Market TrendsTradingKey - On July 6, pre-market Eastern Time, as the US stock market was closed last Friday for the Independence Day holiday, investors turned more to commodities, foreign exc
placeholder
Gold Price Forecast: US Non-Farm Payrolls Miss Expectations, Gold Surges Over $100, Can the Bull Run Continue?As of the Asian session on July 3, gold prices ( XAUUSD) extended yesterday's rally, climbing to an intraday high of $4,195.52. Looking at the charts, gold has gained over $100 in total s
Author  TradingKey
Jul 03, Fri
As of the Asian session on July 3, gold prices ( XAUUSD) extended yesterday's rally, climbing to an intraday high of $4,195.52. Looking at the charts, gold has gained over $100 in total s
goTop
quote