The cryptocurrency sector has been a hotbed for exploitation, with a total loss of $42.6 million reported in May alone. Flash loan attacks have been the primary cause of these losses, resulting in approximately $20.7 million in damages. Sonne Finance took the hardest hit, losing $20 million, followed by TLN Protocol at $746,000. GPU and
The price of Bitcoin seems to have settled back into a choppy market condition, dashing hopes for an imminent breakout to new highs. While this may be disheartening for some investors, it is important to note that the current bull cycle may not be over just yet. Despite the premier cryptocurrency taking its time to
In a fascinating turn of events, two cybersecurity researchers recently assisted an anonymous crypto user in recovering a staggering 43.6 bitcoins (BTC) that he had lost access to 11 years ago. The user, known only as Michael, had set up a wallet in 2013 using a password generated by RoboForm. However, due to a corrupted
Mastercard has taken a significant step forward in the world of cryptocurrency with the launch of its Mastercard Crypto Credential. This new offering aims to simplify and secure blockchain transfers by enabling users on various exchanges to send and receive cryptocurrency using easy-to-remember aliases. This move is set to enhance transaction simplicity and security, ultimately
In recent days, the price of Bitcoin has faced a significant obstacle in breaking above the $72,983 resistance level. This failure has triggered a downward movement, with Bitcoin dropping from $71,942 to $66,785. The crypto asset has moved below the 1-day Simple Moving Average (SMA) in both the 1-hour and 4-hour charts, indicating a potential
The Japanese cryptocurrency trading platform, DMM Bitcoin, recently fell victim to a hack resulting in a significant loss of Bitcoin valued at approximately $305 million on May 31st. The exchange confirmed that 4,502.9 bitcoins were drained from their systems during the attack. Despite this confirmation, DMM Bitcoin has not provided additional information regarding the breach.
In the current year, amidst a broader market recovery, the XRP Ledger (XRPL) has witnessed a surge in network activity across various metrics. According to the latest report from Messari, active addresses saw a 37% increase, while transactions surged by 113% quarter-over-quarter (QoQ). This growth can be attributed to a concentrated group of around 45,000
In recent times, there has been a noticeable uptick in investor confidence within the crypto market, particularly towards Bitcoin. Despite fluctuations in its price, the premier cryptocurrency has been witnessing a continuous accumulation by large-scale investors. This surge in confidence is evident through the movement of substantial amounts of Bitcoin out of centralized exchanges. According
In the wake of the SEC’s approval of Ethereum Spot ETFs, several asset managers have submitted amended versions of their S-1 forms. Among them, Franklin Templeton has caught the attention of many for being the first potential issuer to reveal a sponsor fee. The New York-based investment firm has proposed a 0.19% fee for its
President Biden recently vetoed H.J. Res. 109, a resolution that aimed to overturn the SEC’s SAB 121 rule. In his statement, Biden highlighted that he believes SAB 121 represents the considered technical views of SEC staff. He emphasized the importance of the rule in setting guardrails for accounting practices to protect consumers and investors. Biden’s