The recent exploit suffered by Radiant Capital, which resulted in the loss of over $50 million in user funds, serves as a stark reminder of the vulnerabilities inherent in decentralized finance (DeFi) systems. This incident, outlined in detail by Radiant Capital in a post-mortem analysis, underscores the sophistication of cyber threats facing blockchain projects today.
safe
In light of the escalating number of cyber threats targeting the cryptocurrency sector, the European Securities and Markets Authority (ESMA) has made a compelling case for the European Union (EU) to tighten its regulatory approach. Recent reports indicate a staggering $1.5 billion loss due to cyberattacks on crypto platforms in the first half of 2024
In a significant step within the cryptocurrency sector, Grayscale Investments has sought approval from the U.S. Securities and Exchange Commission (SEC) to transition its mixed-crypto fund into an exchange-traded fund (ETF). This endeavor not only highlights Grayscale’s ambition but also reflects a broader trend as new players, like Canary Capital, explore the establishment of their
The volatility of cryptocurrencies is nothing new, but recent geopolitical tensions, specifically between Iran and Israel, have added fuel to the fire. In early October, market behemoths like Bitcoin and Ethereum experienced notable downturns. Investors’ confidence shook as fear spread regarding whether cryptocurrencies could still act as a “safe haven” in turbulent times. This atmosphere
In an unprecedented legal battle, a man is pursuing nearly £500 million ($646.4 million) from Newport Council in an attempt to retrieve 8,000 Bitcoin (BTC) he alleges were lost during a hard drive disposal incident back in 2013. James Howells, the plaintiff, claims that a simple mix-up led to his hard drive being thrown away
In a significant turn of events, Bitcoin’s price surged past the $63,000 mark, peaking at an impressive $63,400 before settling around $62,700—still reflecting a solid 4% increase within just 24 hours. This rapid movement places Bitcoin in a favorable position compared to its cryptocurrency peers, which have only experienced marginal gains during the same period.
In a cautionary tale of deception and betrayal, David Kagel, an 86-year-old former attorney, has been sentenced to five years of probation for orchestrating a sophisticated cryptocurrency Ponzi scheme that preyed on unsuspecting investors. The scheme, which falsely promised lucrative returns, resulted in nearly $15 million lost by victims over a span of five years.
Stablecoins, a class of cryptocurrencies designed to maintain price stability by being pegged to traditional currencies or assets, have garnered significant interest from regulators and financial institutions alike. As digital currencies continue to infiltrate traditional financial systems, lawmakers are challenged with crafting regulations that provide a clear and supportive framework for these emerging technologies. In
Fidelity Investments, one of the leading asset managers globally, recently experienced a significant data breach that potentially impacted the personal information of over 77,000 customers. This security incident transpired between August 17 and August 19, 2024, when an unauthorized party gained access to sensitive information from two customer accounts. As revealed in a filing with
Ripple, a prominent name in the cryptocurrency landscape, recently unveiled a suite of groundbreaking features designed to bolster its custody services under the Ripple Custody division. This strategic move is a clear indication of Ripple’s commitment to enhancing the security and management of digital assets in an increasingly digitalized financial ecosystem. Given the anticipated growth