by Giorgi Kostiuk
2 years ago
The first quarter of 2024 witnessed a significant financial loss of over $502 million due to 223 onchain security incidents, as per CertiK's latest "Hack3d" security report. Out of this amount, private key compromises accounted for $239 million, which was more than half of the total losses recorded during this period.
Suggestions put forth by CertiK co-founder Ronghui Gu include the adoption of multisig wallets and multiparty computation within the community to strengthen security measures.
US law firm Fenwick West has agreed to pay $54 million to settle claims related to its legal services for the defunct crypto exchange FTX.
FTX collapsed in November 2022 due to mismanagement and fraud, leading to significant legal repercussions and the conviction of founder Sam Bankman-Fried.
The CLARITY Act, pending a Senate vote, could lead to significant ETF inflows into XRP, estimated between 4 to 8 billion, potentially boosting its price.
Ethereum's price has reversed most of its gains from April, finding support just above $2,000, while smart money investors remain active in accumulating tokens despite market downturns.
Bitcoin Spot ETFs faced significant net outflows totaling 126 billion last week, marking the heaviest withdrawals since January.
XRP whale activity has significantly decreased, indicating a potential market compression phase.
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