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Shift from DeFi to CeFi in Web3 security: Increased crypto losses in 2024

Shift from DeFi to CeFi: Cyvers Web3 Security Report Q2 2024

August 17, 2024 • Defi • Leave a Comment

In Q2 2024, Web3 security changed significantly. Centralized exchanges (CeFi) became the main target for attackers. Meanwhile, decentralized finance (DeFi) protocols improved their defenses. Cyvers, a blockchain security firm, highlighted these shifts in its latest report. Source: https://financialit.net/news/fundraising-news/cyvers-raises-8m-led-elron-ventures-bring-proactive-security-web3-economy Increased Crypto […]

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Axie Infinity Ronin Bridge hack $9 million stolen

Axie Infinity’s Ronin Bridge Hacked, $9 Million Stolen

August 6, 2024 • Latest News • Leave a Comment

In a recent cyberattack, hackers breached the Ronin Bridge, an Ethereum sidechain designed for the popular play-to-earn game Axie Infinity. The breach led to the loss of 3,996 Ethereum (ETH), worth approximately $9.33 million. Players rely on the Ronin Bridge

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Ethereum transaction chart and stolen funds movement

aUS Economic Calendar: Events Impacting the Crypto Market This Week

August 5, 2024 • Cryptocurrency • Leave a Comment

The crypto market is once again influenced by key macroeconomic events, which had diminished for most of 2023. This renewal of correlation means that traders and investors need to be prepared for potential market volatility this week. The events lined

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Crypto Hackers Exploit Market Crash; Buy Ethereum with Stolen Funds

August 5, 2024 • Latest News • Leave a Comment

In the middle of a significant crypto market crash, crypto hackers seized the opportunity to buy Ethereum at a discount using stolen funds. On August 5, hackers acquired 16,892 ETH with cryptocurrency robbed from the Nomad bridge hack of August

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AI algorithms and blockchain technology integration

The Role of AI in Blockchain: Enhancing Security and Efficiency

August 5, 2024 • Blockchain • Leave a Comment

Among many technologies that transformed the world for the better, blockchain technology and artificial intelligence (AI) are two of the most important innovations in recent years. Each of them has its own set of strengths and when combined, they offer

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Illustration depicting cybersecurity breach and digital assets

DeFi Protocol Li.Fi Suffers a $11 Million Cyberattack

July 17, 2024 • Defi • Leave a Comment

On July 16, 2024, the cross-chain DeFi protocol Li.Fi faced a major security breach. Hackers exploited a vulnerability, stealing around $11 million worth of cryptocurrencies. The stolen assets included Ethereum (ETH) and various stablecoins such as USDC, USDT, and DAI.

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Ethereum Layer 2 solutions with a focus on Linea blockchain and security breach.

Slow Decentralization of Ethereum L2s after Linea Blockchain Stops

June 3, 2024 • Blockchain • Leave a Comment

The recent incident involving the Linea blockchain is about the ongoing challenges and slow pace of decentralization in Ethereum’s Layer 2 (L2) solutions. Linea’s decision to stop its sequencer after a hack stresses the urgent need for L2 firms to

Slow Decentralization of Ethereum L2s after Linea Blockchain Stops Read More »

Ethereum blockchain under attack in May 2024, representing 43% of crypto losses.

2024’s Most Attacked Blockchain Suffers 43% of May Crypto Losses

June 3, 2024 • Blockchain • Leave a Comment

In May, Ethereum faced severe attacks, making it the most targeted blockchain of 2024. Hackers and fraudsters relentlessly focused on Ethereum, causing significant losses. Key Takeaways Ethereum’s Share of Losses: Ethereum constituted nearly 43% of total crypto losses in May.

2024’s Most Attacked Blockchain Suffers 43% of May Crypto Losses Read More »

AI monitoring blockchain transactions to prevent cyberattacks on DeFi protocols.

AI Detects Sonne Finance Hack: Key Role in Enhancing Web3 Security

May 27, 2024 • Defi • Leave a Comment

Artificial intelligence is becoming crucial for web3 security. It’s not just a trend; it’s vital for protecting against cryptocurrency thefts and cyberattacks. AI companies are developing algorithms to detect threats to DeFi protocols, aiming to reduce attacks and improve response

AI Detects Sonne Finance Hack: Key Role in Enhancing Web3 Security Read More »

Kraken self-custody crypto wallet interface showing asset management and security features.

Kraken Launches Self-Custody Crypto Wallet: A Breakdown

April 29, 2024 • Latest News • Leave a Comment

Kraken, a big name in cryptocurrency trading, just launched its very own wallet for keeping your digital assets safe. It’s like what other big exchanges such as Binance, OKX, Coinbase, Bitget, and Bybit have been doing with their self-custody solutions.

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