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FTX Legal Fees Amount to $1.3 Million Per Day, Creditors Concerned
18.12.2023
Source: Adobe Bankrupt digital asset exchange, FTX has paid hundreds of millions in legal fees in a few months sparking reactions as creditors seek to recover their losses. Court filings show that over $118 million were billed on the exchange between August and October for professional legal fees...
“Banks Work, Bitcoin Doesn’t” Wikipedia Co-founder Fires Shots at Bitcoin, Community Responds
13.12.2023
Bitcoin Wikipedia Source: Adobe / piter2121 Wikipedia co-founder Jimmy Wales criticized Bitcoin (BTC) on the asset losses when users forget their wallet passwords against the reality of centralized finance sparking wide controversy among crypto enthusiasts. Wales wrote on X (formerly Twitter)...
Shiba Inu Price Prediction as SHIB Experiences a 9.25% Drop – Start of a Downward Trend?
13.12.2023
Source: Dall•E 3 The Shiba Inu price has fallen by 2% in the past 24 hours, with the meme token’s slide to $0.00000941 also marking a 9.25% drop in the past week. Despite these losses, SHIB remains up by 14% in a fortnight and by 5% in the last 30 days, with the meme token […]
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XRP Price Prediction as XRP Eyes Fresh Rise from $0.600 Support – A New Rally Ahead?
12.12.2023
The XRP price has dipped by 0.5% in the past 24 hours, with the coin slipping to $0.620612 after the cryptocurrency market suffered some heavy losses yesterday. XRP is now up by 1% in the past week and by 3% in the past fortnight, yet it remains down by 7% in the last 30 days, […]
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Market Dip Indicates Deleveraging Rather than Fundamental News: Crypto Analyst
11.12.2023
Source: Adobe Bitcoin’s brief but sharp tumble toward $40,000, accompanied by a broader selloff in the crypto market, signals a potential deleveraging phenomenon rather than a fundamental news catalyst. On Monday, the largest cryptocurrency plunged as much as 7.5% to $40,521 before...
Shiba Inu Price Prediction as 8 Billion SHIB is Burned in 24 Hours – Time to Buy?
7.12.2023
The Shiba Inu price has dropped by 5.5% in the past 24 hours, slipping to $0.00000953 as the crypto market as a whole suffers a 1.5% dip. Even with today’s losses, SHIB remains up by 16% in a week, with the famous meme token benefiting from market-wide optimism and bullishness this week....
El Salvador Triumphs in Bitcoin Bet — President Nayib Bukele Announces $3.6 Million Profit
4.12.2023
El Salvador’s head of state, Nayib Bukele, recently announced that the nation’s bitcoin investment has turned profitable, rebounding from a prolonged period of losses experienced during the majority of last year’s crypto winter. Bukele revealed that the value of...
Digital Assets Worth $343M Stolen From Crypto Exchange Platforms in November — Study
4.12.2023
Digital assets worth just over $343 million were stolen from digital asset platforms in November alone. Centralized exchanges accounted for 53.8% of the total losses, with decentralized exchange platforms accounting for the remainder. The 34 attacks on BNB Chain and Ethereum represented 83% of...
Hacker Drains Over $2 Million from Safe Wallet- What’s Going On?
4.12.2023
Source: Pixabay A malicious actor has stolen over $2 million from Safe Wallet users in the past week through address poisoning theft raising the total victim count to 21. Several blockchain security firms have tracked suspected activity from different transactions resulting in losses from Safe...
Over $356M Lost to Hacks, Phishing Scams and Rug Pulls in Crypto in November: Beosin
1.12.2023
Source: Pixabay Beosin EagleEye’s latest report exposes a massive surge in blockchain security incidents during November 2023, leading to a staggering total loss of over $356 million. This marked an alarming 6.9-fold increase compared to the losses reported in October. Hacker Attacks Resulted...
Immunefi’s November Crypto Losses Show $343M Lost to Frauds and Hacks, CeFi Platforms Account for 53% Losses
30.11.2023
Source: AdobeStock In November, the cryptocurrency industry experienced significant losses, with bug bounty platform Immunefi reporting that over $343 million was lost to platform hacks and fraudulent activities. This marks the highest monthly loss recorded in the emerging industry for 2023....
Report: Operator of South Korean Crypto Exchange Upbit Sees a Nearly 40% Drop in Operating Profit
30.11.2023
Dunamu, the operator of the South Korean crypto exchange Upbit, recently said it had realized an operating profit amounting to $79 million in the third quarter of 2023. Virtual asset valuation losses contributed to the 81.6% drop in the operator’s net profit for the period. Operating Profit...
Security audits ‘not enough’ as losses reach $1.5B in 2023, security professional says
29.11.2023
CertiK co-founder Ronghui Gu told Cointelegraph that it’s “inexcusable” the industry faces continued SIM-swap and multisig failures, as previous incidents already highlighted the issues
Hong Kong Police Receive 145 Complaints of Hounax Crypto Scam Totaling $18.9M
28.11.2023
Hong Kong authorities confirm 145 victims and nearly $19 million lost in crypto scam involving unlicensed exchange Hounax. Image by Alexey Novikov, Adobe Stock. Authorities in Hong Kong have confirmed that 145 individuals filed complaints regarding losses from an unlicensed cryptocurrency exchange...
ECB President Christine Lagarde Says Her Son Lost “Almost All” Money He Invested in Crypto
24.11.2023
Christine Lagarde. Source: europeancentralbank / Instagram European Central Bank (ECB) President Christine Lagarde has revealed that her son endured substantial losses in his investments in cryptocurrencies. During a town hall event with students in Frankfurt, Lagarde said that despite her strong...
Bitcoin Hash Rate Taps All-Time High Ahead of Next Year’s Halving
23.11.2023
Source: Pexels Bitcoin’s (BTC) hash rate is at an all-time high few months away from the next halving with bulls anticipating another run to wipe the losses of the bear market. According to data from blockchain.com, the Bitcoin hash rate hit 491 exahashes per second (TH/s) on Nov...
KyberSwap Hacked for $48 Million, Hackers Suggest Negotiations
23.11.2023
Source: KyberSwap KyberSwap, a decentralized exchange, has been compromised in a hack resulting in the theft of $48 million, prompting the platform to advise users to withdraw their funds while the attackers hint at entering negotiations. On-chain data indicates that the hack on KyberSwap resulted...
Heco Chain, HTX Hit by $100M Hack, Justin Sun Says Exchange Will Cover All Losses
22.11.2023
A recent hack drained $100 million worth of crypto from Heco Chain and HTX exchange. Image by Cihangir Stock, Adobe Stock. Cryptocurrency exchange HTX and blockchain protocol Heco Chain were exploited on Wednesday in a hack totaling $97 million worth of digital tokens, according to Justin Sun,...
Suspicious Wallet Activity Indicates $110 Million Drain from HECO Bridge and HTX Exchange – What’s Going On?
22.11.2023
Blockchain security firms detect suspicious activity on HECO bridge and HTX with initial losses estimated at $110 million weeks after $100 million was drained from Poloniex. According to data from Cyver Alerts, a suspicious address has received $12 million from HTX cryptocurrency exchange followed...
Fantom Awards $1.7 Million to Security Researcher for Spotting A Massive Vulnerability
21.11.2023
Source: Adobe Stock / sunilpurushe The Fantom Foundation has awarded a $1.7 million bounty to a blockchain security researcher who identified a potential breach that could result in $170 million losses. The non-profit organization that partakes in the blockchain’s development says it has eliminated...