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.
Binance CEO Richard Teng revealed that 70% of the funds withdrawn by EU users went to self-hosted wallets instead of MiCA-regulated platforms.
Binance faces regulatory challenges as its license application in France is rejected following the withdrawal of its MiCA application in Greece.
The legal landscape surrounding prediction markets in the U.S. is contentious, with the CFTC suing states to assert jurisdiction, leading to mixed court rulings and potential Supreme Court involvement.
North Carolina has enacted a law recognizing CFTC authority over prediction markets, allowing them to operate legally with a 6% tax on revenue.
Binance withdrew its MiCA license application from Greek authorities, advising EU users to withdraw their funds due to regulatory delays and the approaching compliance deadline.
The Ripple case is nearing a final judgment, with market focus shifting to potential penalties and changes required by the court.
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