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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...
Digital Asset Funds Record $176 Million Inflows as Market Rebounds: Here’s More
20.11.2023
Source: Adobe / Luisa The digital asset market continues to notch multiple wins in recent months as it recovers losses recorded in previous months with multiple assets soaring to yearly all-time highs. A new CoinShares Weekly Asset Flow report shows a massive increase in investor sentiments over...
States of Jersey Police Warn Islanders of Crypto Fraud Following a Recent Scam
20.11.2023
Source: Pixabay The States of Jersey Police brought a crypto investment fraud to light that resulted in losses amounting to £700,000 ($873K). Jersey police issued a warning to the islanders to be vigilant about cryptocurrency scams. The British isle issued a cautionary note to residents to be aware...
Kronos Research Loses $26 Million in Unauthorized API Access Incident
20.11.2023
According to Kronos Research, the crypto trading firm lost assets worth $26 million on Nov. 18 after an unknown party illegally accessed its application programming interface (API). Kronos Research claimed the losses associated with the unauthorized API access do not constitute “a...
dYdX DEX and YFI Token Hit by $9 Million Targeted Attack – Here’s What Happened
19.11.2023
Image Source: Unsplash Decentralized exchange dYdX has used its insurance fund to cover losses amounting to $9 million resulting from a “targeted attack” against the exchange. In a Saturday post on X (formerly Twitter), the dYdX team said that the v3 insurance fund was deployed...
El Salvador Remains in the Red on Bitcoin Holdings, But Losses Are Narrowing
15.11.2023
It's been a bit more than two years since the country made bitcoin legal tender there
Poloniex to Resume Deposits and Withdrawal Services After $100 Million Exploit: Here’s More
15.11.2023
Source: Adobe Cryptocurrency exchange Poloniex has announced plans to resume operations after it suffered a major hack resulting in losses over $100 million. The exchange announced on Nov 15 that following restoration efforts after the hack, it will begin deposits and withdrawal services assuring...
Australia Introduces Capital Gains Tax For Wrapped Tokens
14.11.2023
Source: Pixabay The Australian Taxation Office has issued an update on its capital gains tax for crypto products, stating that it also extends to wrapped tokens or token interaction with decentralized lending protocols. The previous edition of the capital gains tax stated that capital gains...
Gurus Are Quietly Stockpiling This Undervalued AI Crypto Gem – What’s the Deal?
14.11.2023
Crypto gurus are rapidly acquiring tokens from overlooked AI crypto startup yPredict. Image by yPredict, X. When it comes to trading and investing in the cryptocurrency markets, gaining an advantage over your competitors could make the difference between racking up major profits or taking hard...
Solana Price Prediction as Grayscale’s SOL Trust Trades at Nearly 1,000% Premium – Can SOL Reach $1,000?
14.11.2023
The Solana price has dropped by 6% in the past 24 hours, falling to $54.43 on a day when the cryptocurrency market as a whole slips by 1.5%. However, SOL remains up by an impressive 32% in a week and 147% in a month, with today’s losses mostly being about profit-taking from some holders....