$1.4 billion stolen in crypto hacks in first half of 2024, study finds

$1.4 billion stolen in crypto hacks in first half of 2024, study finds

The amount of cryptocurrency stolen in global hacking attacks more than doubled to a record $1 billion during the first six months of this year, compared to all of 2023, according to TRM Labs' blockchain researchers.

By June 24, 2024, more than $1.38 billion in crypto had been pilfered, which is significantly higher compared to the amount stolen during the first half of last year, estimated at $657 million. The median theft size also increased by 50%.

This spike is...

BlackRock’s $20 billion ETF becomes the world’s largest Bitcoin fund

BlackRock's $20 billion ETF becomes the world's largest Bitcoin fund

A monumental shift has occurred in the cryptocurrency environment, as BlackRock's iShares Bitcoin Trust has risen to prominence as the largest global fund focused on Bitcoin, gathering nearly $20 billion in assets since its anticipated US launch at the year's outset.

This significant accomplishment highlights a key moment in Bitcoin's journey towards mainstream adoption and investor accessibility worldwide.

Impressively, the iShares Bitcoin Trust has now eclipsed the...

Lightning Labs successfully tests stablecoin integration on Bitcoin blockchain

Lightning Labs successfully tests stablecoin integration on Bitcoin Blockchain

Lightning Labs, a developer of software that powers the Lightning Network, has successfully tested Taproot Assets, a new system designed to issue stablecoins on the Bitcoin blockchain.

Thanks to the Lightning Network, this system can handle instant transactions with lots of volume and minimal fees, marking a major step forward in blockchain tech.The new protocol is a clever twist on Taproot, the latest upgrade to hit Bitcoin. Taproot enhances how the blockchain works by...

Cobo and Coincover join forces with XLink to drive Bitcoin’s evolution into DeFi

Cobo, a provider of digital asset custody solutions, has formed a strategic partnership with XLink, a pioneering intent-based omnichain Bitcoin liquidity network and a subsidiary of ALEX, the leading DeFi platform on Bitcoin.

Alongside Coincover, a UK-based digital asset protection company, this dynamic alliance is poised to transform Bitcoin’s integration into DeFi by leveraging Cobo’s cutting-edge multi-party computation (MPC) custody technology with XLink’s innovative...

Financial sector has experienced rapid growth in cryptojacking

CoinDash - ICO hack

Cybersecurity firm SonicWall has released the 2024 SonicWall Annual Cyber Threat Report, which exposes all types of cyber behaviours and trends from digital adversaries to help partners build data-driven solutions to keep customers safe.

2023 proved to be a year of volatile, adaptive and creative digital threats, as threat actors continue to be relentless in their assault, leaving organizations looking for another layer of defence. 

Organizations are increasingly...

Study reveals the sectors that offer cryptocurrency as a payment method

A study by crypto tax software CoinLedger reveals that the Retail and e-commerce sector has the highest number of companies that offer the option to purchase through cryptocurrency.

The study compiled a list of more than 300 major companies known to accept cryptocurrency methods and categorised them into sectors, to discover which one contains the most companies offering crypto as a payment method.

Retail & E-commerce take first place, with 60 companies accepting...

Renee Francis, Take3: The transformative potential of Web3

The Block caught up with Renee Francis, Founder and Director of Take3, to discuss the transformative potential of Web3.

With a background in marketing and extensive experience with platforms such as Facebook, LinkedIn, and Google, Francis offers a unique perspective on the issues that Web3 aims to address.

In this interview, she shares insights into the benefits of Web3, the challenges it faces, and her excitement for various projects in the space.

Data...

Coinbase’s CEO shares his top 10 most exciting Web3 ideas

Coinbase co-founder and CEO Brian Armstrong is basking in the glow of a successful week as the value of his company's stocks soared, riding on the rising hopes for a Bitcoin spot Exchange-Traded Fund (ETF).

Armstrong kept the good vibes going by sharing the 10 ideas he’s “most excited about” in the Web3 space.

"We're actively developing numerous projects at Coinbase, but considering the vast landscape, it's not possible to tackle everything. Therefore, I thought...

Sabre56 signs deal with Bootstrap Energy to become ‘one of world’s largest blockchain operators’

Sabre56, a digital asset management consultant offering specialist design of blockchain data centres, has announced a five-year agreement with Bootstrap Energy in what the company describes as the ‘biggest single operations contract’ in the crypto mining industry to date.

The agreement with Bootstrap Energy is to provide miner operations at the 300MW Saxet Energy Park in Texas, which has the capacity to host approximately 100,000 ASICs (application-specific integrated...

House of Lords approve UK crypto bill

UK parliamentarians have taken a significant step towards recognising cryptocurrencies as a regulated activity with the approval of the Financial Services and Markets Bill (FSMB) by the House of Lords.

The move brings the bill closer to becoming law, marking an important development in the country's approach to digital assets.

Anto Paroian, CEO at ARK36, said:

"At ARK36, we feel the news that the UK parliament has just voted through a new bill which could...