Crypto losses from hacks and scams soared by 113% in Q2 2024 to reach $572M

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The past week in DeFi saw new advancements in zero-knowledge proofs (ZK-proofs) as a scaling solution as more DeFi protocols embraced the technology.A new United States Senate DeFi…

The crypto market has been on a downward trajectory since the tail end of 2021. In early May 2022, it culminated in a dip that impacted traditional markets just as hard. The recent bust removed some speculation from the market. But the shakeup is different than in the past. There are still many more active…

Twelve out of 15 of the most popular decentralized finance protocols still have access to a ‘God Mode’ admin key, according to data on review platform DeFi Watch.These full-access controls allow developers to modify or replace the smart contracts underpinning their projects, including making adjustments to user balances.While admin keys have been justified as a…

Amazon-owned, leading game streaming platform Twitch has enabled bitcoin (BTC) and bitcoin cash (BCH) payments again, Cointelegraph Brazil reports on June 25.As Cointelegraph reported at the time, in March Twitch quietly removed bitcoin and bitcoin cash as payment options for subscriptions by removing Bitpay as a payment method. Per the report, Bitpay has been enabled…

Tuesday Dec. 17 - Bitcoin (BTC) is retracing rapidly from around the $6,950 price mark to below $6,600 in the past few hours.Cryptocurrency market daily overview. Source: Coin360Bitcoin price is taking a painful nosedive, dropping close to $350 in just a few hours. BTC started the day at $6,915, at which point the world’s largest crypto…

The chair of Australia’s market regulator has warned that “action will be taken” on financial product issuers who promote risky products to a wide consumer base. 137 Total views 4 Total shares Australia’s financial services and markets regulator has issued another glaring warning towards issuers of crypto-based financial products, particularly those inappropriately marketing high-risk products.Joe Longo,…

U.S. law enforcement consider so-called “SIM swapping” one of its “highest priorities” in a bid to fight cryptocurrency fraud, security news and investigation blog KrebsonSecurity reported Nov. 7.Speaking to the publication, Samy Tarazi, a police sergeant in Santa Barbara and a supervisor of the REACT Task Force — a group dedicated to fighting cybercrime —…

Layer1 — a Bitcoin mining firm backed by PayPal co-founder Peter Thiel — was accused of copyright infringement. 388 Total views 1 Total shares United States-based cloud computing company Lancium LLC has filed a lawsuit against Bitcoin (BTC) mining firm Layer1 for patent infringement in the Western District Court of Texas.According to a complaint filed…