The FTX recovery team says that it has recovered about $5 billion at this point, but that a significant portion of the remaining shortfall is due to almost half a billion in stolen crypto.
Cryptocurrency is increasingly being added to businesses' balance sheets because it helps to reach new customers, and it provides a way to avoid many fees. As with any financial asset, the question of how to secure it is moving to the forefront of the CFO’s mind.
Just one month into the new year, the Wormhole network breach is already the second major incident involving a DeFi project following the attack on the Qubit Finance network.
DeFi platform Qubit finance lost $80 million after hackers leveraged a logical flow to deposit 0 ETH to withdraw 206,809 Binance coins. Platform implored the hackers to return the funds or transform the exploit into a bug bounty.
Hackers stole up to $30 million in the Crypto.com hack associated with 2FA bypass, forcing the exchange to refund the victims and migrate to a new 2FA infrastructure.
Cryptocurrency exchanges need to empower users to fully secure their accounts to protect themselves from phishing attacks and account takeovers. Account security using modern authentication standards can achieve this without sacrificing user convenience and privacy.
Behind all the discussions and the growing acceptance or rejection of cryptocurrencies, lies the same truth. Whatever the medium of exchange is, digital assets have to be secure and without trust, no other element is relevant.
Crypto exchange Liquid, one Japan's most popular exchanges, is now short $97 million in total assets after a cyber attack that pulled funds directly from the wallets of some of its customers.
Brazen robbery by crypto hackers cost users of a DeFi platform a collective $610 million, but only for a little while. Hackers have since returned all but $33 million in assets.
The first Bitcoin privacy update in four years is bringing changes that are broadly popular among the user base. The "Taproot" update, scheduled for November, changes the digital signature algorithm underpinning the system.
