Tag: blockchain security

Mixin Network causes the crypto industry a $200m loss

On the 25th of September, 2023, Mixin Network temporarily suspended all deposits and withdrawal services. Several perpetrators breached its blockchain security and...

Cryptocurrency: a gateway to financial freedom

Cryptocurrencies represent a paradigm shift in the financial industry by providing consumers a new way to achieve financial freedom. Cryptocurrencies empower people to take control of their financial lives through decentralization, borderless transactions, investment opportunities, and increased anonymity. Given the nascency of the crypto ecosystem, investors are advised to focus on the long-term benefits of Bitcoin while reaping short-term gains in the process. Nonetheless, it is critical to approach cryptocurrency investments cautiously, investigate, and be aware of the risks. Individuals can utilize this revolutionary technology to achieve financial autonomy.

August crypto hacks reveal a new vulnerability in the Web3 ecosystem

According to Certik firm, a blockchain security organization, crypto hacks significantly spiked in July, marking it as the worst month in the 2023...

Bitcoin halvings: an outlook into the past and future projections

Cryptocurrency miners get rewards with a portion of the currency every time they contribute new entries to the Bitcoin blockchain. This is known as the block reward. Bitcoin halvings remain an integral component of the protocol. They cut the block reward by half every 210,000 blocks. Due to the dynamic character of the Bitcoin blockchain, it is difficult to predict when future halvings will occur precisely.

Metaverse hacks that demand caution in 2023

In April, MetaPoint became the latest victim of a Metaverse hack, resulting in a $1 million loss. According to the 10th...

Understanding the flaws of Metaverse Security and where to improve

The Metaverse is an ever-expanding pool of digital information exchanged at light speed, containing sensitive information on millions of users. The social construct...

KuCoin exchange introduces a new KYC system

During the first quarter of 2022, the KuCoin exchange received a $150 million pre-Series B funding round from several investors. On June...

FTX seeks to draw $700M from Bankman Fried in lawsuit

FTX, a major crypto trading firm, has filed a lawsuit in the United States Bankruptcy Court for the District of Delaware, seeking over $700 million from investment firms it had previous ties with. The lawsuit, filed on June 22, contains 16 counts. The defendants named in the lawsuit include K5 Global, Mount Olympus Capital, SGN Albany Capital, and individuals Michael Kives and Bryan Baum. They are accused of being involved in transactions that resulted in the transfer of funds from FTX-affiliated firm Alameda Research.

Crypto wash trading and the need for comprehensive regulation

Wash trading is a form of illicit market manipulation where an entity buys and sells the same financial asset to create a false impression of market activity. This practice gained traction with the rise of electronic trading in the early 2010s, as algorithmic trading programs began churning trades at unprecedented speeds. This old illegal financial market trick has unfortunately found its way into the crypto industry.

Atomic Wallet breached, loses $35 million

The infamous Lazarus group bypassed their blockchain security and made off with $35 million worth of cryptocurrencies. Roland Sade, Atomic Wallet's Chief marketing...

2023: A leap forward in blockchain security compared to 2022

The Ronin bridge hack is a prime example of a blockchain security vulnerability losing US$600 million due to technical issues. Deus Finance, a...

Blockchain Security Companies at the top of the industry

Threats such as the 51% attack are rendered obsolete given the sophistication of various control means such as Zero-knowledge mechanisms. Certik has...

Countries leading in adoption of Blockchain technology

The use of cryptocurrency and the growth of AI has boosted the adoption of Blockchain in several economies Blockchain adoption has been rapidly...

Bitrue crypto exchange platform loses US$23 million to crypto hack

In July 2022, the Singapore-based crypto platform announced a collaboration with Cardano to help decentralize $ADA. The organization tallied a loss of...

Use cases of blockchain technology in cyber security

During the late 2000s, it became clear that cyber security became a concern for citizens rather than organizations. Implementing decentralized DNSes minimizes the...

Crypto antiviruses: Their origin, functionality and use in Africa’s crypto ecosystem

In 1971 when the world was experiencing Web1, the first iteration of the internet, the individuals tasked with developing it, accidentally created the...