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.
Elliptic has published a report detailing how Bitcoin ATM scams work, focusing on the tactics used by fraudsters to exploit victims, especially the elderly.
FATF highlights challenges in enforcing crypto regulations, especially in DeFi and stablecoins.
The Financial Action Task Force (FATF) reports that 83 jurisdictions have enacted legislation for the Travel Rule, but enforcement remains a significant issue.
SEC Commissioner Hester Peirce has issued a statement on crypto vaults and lending strategies, highlighting that onchain activities are still subject to federal securities laws.
Poolin Technology Pte Ltd faced financial troubles starting September 2022, freezing withdrawals for users and issuing IOU tokens instead of repaying customers, affecting about 11,700 wallet holders owed $163.7 million, with recovery dependent on an upcoming asset auction.
Poolin Technology Pte Ltd, a Singapore-based company, filed for Chapter 11 bankruptcy on July 22, 2023, facing over $100 million in obligations with less than $10 million in assets.
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