The crypto space has recently been hit hard by over ten different hacks, resulting in losses totaling $313 million. Two significant phishing attacks were responsible for 93.5% of the stolen funds, with a combined loss of $293.4 million. In one incident, an unknown whale lost over 4,000 bitcoin (BTC) in a phishing scheme, resulting in
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Recent data from Bitbo reveals that Bitcoin miners experienced their worst month in almost a year in terms of revenue generation. In August, BTC mining activities only brought in $827 million, marking a significant decline of over 10% from the previous month’s earnings of $927.35 million. This decrease is even more pronounced when compared to
Last week, digital asset investment products experienced outflows totaling $305 million, leading to widespread negative sentiment among various providers and regions. CoinShares attributes this trend to the release of stronger-than-expected economic data from the United States. This data has reduced the likelihood of a 50-basis point interest rate cut by the Federal Reserve. As a
Bitcoin’s price has been incredibly volatile in the past week, with a sharp drop to a 2-week low of $57,100. The asset had surged above $65,100 just a week ago but failed to maintain its momentum. Despite a brief recovery to $61,000, bitcoin plunged back down to under $58,000, and has been struggling to regain
A London resident, Habibur Rahman, has recently made headlines as the first person in the UK to face charges for operating a Bitcoin ATM without proper registration. The incident took place at a gadget shop in Chatham, where several crypto ATMs, including one for public use, were found to be operated without the necessary approval
The payments industry has experienced significant growth over the past fifty years, making it one of the largest and fastest-growing sectors globally. However, despite its success, the industry still relies on outdated technology that is becoming increasingly inefficient. According to a report by Binance Research, blockchains and distributed ledger technology have the potential to revolutionize
Peter Diamandis, the visionary behind X Prize and Singularity University, recently sparked a thought-provoking discussion among his vast following on social media. One response highlighted the unparalleled track record of Bitcoin in fulfilling its promises over the past 15 years. Bitcoin has consistently delivered, generating a new block of transactions every ten minutes without fail.
Crypto.com, a prominent cryptocurrency exchange headquartered in Singapore, has recently joined forces with Standard Chartered, a major global banking institution, to provide fiat services to retail users worldwide. This partnership signifies a significant development in the cryptocurrency industry as it bridges the gap between traditional banking and digital assets. Enhancing Accessibility and Functionality Through the
Recent findings from TRM Labs have revealed a troubling trend in the world of cryptocurrency ATMs. These cash-to-crypto services have been found to have processed at least $160 million in illicit volumes since 2019, with the proportion of illicit transactions at these ATMs reaching 1.2% in 2023. This is significantly higher than the 0.63% of
The demand for bitcoin (BTC) in the United States has experienced a surge following comments made by Federal Reserve chair Jerome Powell at the recent Jackson Hole symposium. Specifically, BTC has seen a notable increase in demand from U.S. investors, as reflected in the rise of the Coinbase Premium to 0.11%, its highest level since