In the past month alone, the cryptocurrency space has been rocked by a series of devastating hacks, resulting in a total loss of $313 million. Two major phishing attacks accounted for a staggering 93.5% of the stolen funds, highlighting the vulnerability of crypto holders to social engineering tactics. In one incident, a whale lost over
Crypto
Recent data from bitcoin (BTC) on-chain analysis platform Bitbo paints a dismal picture for miners of the largest cryptocurrency. In August, miners suffered their worst month in nearly a year in terms of revenue generation. According to Bitbo’s dashboard, BTC mining activities only secured $827 million, marking a significant 10% decrease from July’s earnings of
The latest data on digital asset investment products reveals that the sector experienced a total of $305 million in outflows in the past week. This negative sentiment was largely driven by stronger-than-expected economic data coming out of the United States, influencing the likelihood of a significant interest rate reduction. According to CoinShares’ Digital Asset Fund
Over the past 24 hours, Bitcoin’s price has taken a turn for the worse, dropping to a 2-week low of $57,100. This downward trend comes after a week of fluctuating prices, with Bitcoin initially surging to over $65,100 before gradually losing value. Despite a brief recovery on Thursday that pushed BTC to $61,000, it has
Recent news from the UK has highlighted the legal consequences for operating a Bitcoin ATM without the proper registration. This article analyzes the case of Habibur Rahman, the first person in the UK to face charges for unauthorized operation of a crypto ATM. Habibur Rahman, a London resident, was arrested by Kent Police on April
One of the most intriguing questions posed by Peter Diamandis, the founder of X Prize and Singularity University, revolves around the future of Bitcoin. With an impeccable track record of never failing to execute transactions every ten minutes for 15 years and no breaches in its base blockchain layer, Bitcoin has proven its reliability. Many
The payments industry has experienced significant growth over the last five decades, becoming one of the largest and fastest-growing sectors globally. Despite this success, a critical issue remains – the industry continues to operate on outdated technology that hampers efficiency. According to a report by Binance Research, leveraging blockchains, distributed ledger technology (DLT), and their
In a recent announcement, the Singapore-based cryptocurrency exchange Crypto.com has teamed up with Standard Chartered, a renowned multinational banking institution. This collaboration aims to provide retail users across the globe with access to fiat services. Through this partnership, Standard Chartered will offer banking and payment solutions to facilitate the deposits and withdrawals of major currencies
Recent findings from TRM Labs have shed light on a troubling trend in the world of cryptocurrency. The report reveals that illicit activity at crypto ATMs is alarmingly higher than in the broader crypto industry. This has sparked a wave of concern among law enforcement agencies and regulators worldwide, who are now turning to blockchain
The recent comments made by Federal Reserve chair Jerome Powell at the Jackson Hole symposium have sparked an increase in demand for Bitcoin (BTC) in the United States. This surge in interest has been reflected in the rise of the Coinbase Premium, reaching its highest level since July at 0.11%. This increase indicates that U.S.
The much-anticipated 2024 bitcoin bull run has not lived up to expectations as the asset struggled to maintain momentum after surpassing its all-time high from 2021. Despite initial excitement following the historic achievement, the journey towards the coveted $100,000 mark has been tumultuous, with fluctuations in price and lackluster performance dampening investor sentiment. Perplexity, a
The U.S. Securities and Exchange Commission (SEC) recently took legal action against brothers Jonathan Adam and Tanner Adam for allegedly orchestrating a Ponzi scheme worth $60 million. The complaint, filed in the United States District Court for the Northern District of Georgia in Atlanta, accuses the siblings of deceiving more than 80 individuals by promoting
In the world of cryptocurrencies, high centralization poses a significant threat to the core principles of decentralization that the industry strives to achieve. The concentration of power among a few entities can lead to increased influence, potentially undermining the ethos of decentralization that crypto assets aim to uphold. Popular project tokens such as Polygon (MATIC)
Recently, Ethereum co-founder Vitalik Buterin made another significant transfer of ETH, totaling 800 ETH valued at approximately $2.01 million. This transfer raised eyebrows within the crypto community, especially when 190 ETH from the same wallet was exchanged for 477,000 USDC, a stablecoin tied to the U.S. dollar. This is not the first time Buterin has