In March 2024, blockchain security firm PeckShield released a report that highlighted a distressing increase in crypto hacks, causing over $187.29 million in losses across more than 30 incidents. Despite some recovery efforts, these breaches have dealt a significant blow to the DeFi sector’s progress. One of the most devastating breaches mentioned in the report
Crypto
Argentina has taken a significant step in the regulation of the cryptocurrency industry by requiring all local crypto firms to register with the newly established regulatory body dedicated to the sector. Failure to comply with this requirement could result in these firms being forced to cease operating entirely. The decision comes after the nation’s senate
Bitwise Asset Management is making a bold move by urging the U.S. Securities and Exchange Commission (SEC) to defer the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. This decision comes amid the soaring success of the Bitwise Bitcoin ETF (BITB), which has accumulated over $2 billion in assets under management since its
In March, Shiba Inu (SHIB) saw a massive increase in token burns, with billions of tokens being removed from circulation. The burn rate for the month resulted in over 15.5 billion assets being destroyed, marking a significant spike compared to previous months. The largest burn occurred on March 8, when almost 14 billion SHIB tokens
Cryptocurrency crimes have been proliferating globally, particularly in the midst of the booming market. One group that is increasingly falling victim to these scams is the elderly population, who are often targeted by fraudsters promising significant returns on investments. These criminals use various tactics to manipulate older individuals into exchanging their hard-earned funds for cryptocurrencies,
In the wake of the October 7th attacks on Israel, the US and UK authorities have intensified their efforts to combat terrorism financing through cryptocurrency channels. The US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) recently imposed sanctions on two individuals and three entities for their
The Financial Conduct Authority (FCA) in the UK recently announced its intention to address meme-based marketing for financial products by releasing guidelines for financial services firms and social media influencers. This move comes after the FCA’s declaration of taking action against firms engaged in illegal financial promotions. The focus of the guidelines is on financial
Recently, news broke that Tigran Gambaryan, a high-ranking official at Binance, has taken legal action against the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria. This bold move by Gambaryan, an American citizen, has raised eyebrows and sparked debates about the treatment of foreign nationals in
Kerrisdale Capital recently released a report claiming that MicroStrategy’s shares are currently overvalued. They believe that MicroStrategy’s shares are trading at a premium to the actual spot price of Bitcoin, which the company views as unjustifiable. This assertion led to a significant 14% decrease in MicroStrategy’s shares following the report’s publication. Analysis of the Premium
The recent hack of Prisma Finance, where $11.6 million was stolen from the decentralized finance (DeFi) protocol, has raised questions and sparked discussions within the cryptocurrency community. The attacker behind the hack claimed that it was a “whitehat rescue” and expressed a desire to return the funds back to the platform. This raised eyebrows as
