Tag: 103M

OKLink Reveals $103M Blockchain Losses in February 2024

OKLink’s February 2024 report details $103M in crypto losses, highlighting the critical need for heightened security measures. The blockchain industry faced significant security challenges in February 2024, as reported by OKLink in a recent review. The cumulative losses across the network approximated a staggering $103 million USD, with phishing scams contributing to 11.76% of these losses, according to the OKLink Security Incident Review. The report highlighted that official social media accounts experienced 37 scams and phishing incidents, mainly concentrated on platforms like Twitter and Discord. These security breaches underscore the…

Inflows into crypto resumed with $103m over the last week

Coinshares analysts published their following weekly report on financial flows in crypto products, according to which the influx of capital has resumed. According to a report published by the Head of Research at Coinshares, last week from Dec. 18 to 24, the inflow into crypto products amounted to $103 million. In geographical terms, the leaders in investment were Germany, Canada, and the USA, where the influx of money amounted to $41.6 million, $25.8 million, and $20.4 million, respectively. As before, a significant capital inflow came from Bitcoin (BTC), amounting to…

FTX advisors billed the bankrupt firm for a whopping $103M in Q1

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The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter. March saw five firms — Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb — bill FTX a combined $36.4 million according to several court filings between April 28 and May 2. The invoices from March were slightly higher than January and February’s figures of $34.2 million and $32.5 million respectively. New York-based law firm…

April’s crypto scams, exploits and hacks lead to $103M lost — CertiK

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Crypto exploits, exit scams, and flash loan attacks saw little signs of letting up in April, with more than $103 million of funds stolen from crypto projects and investors in the month.  On April 30, crypto security and auditing firm CertiK posted an April roundup of crypto exploits, scams, and hacks, revealing total funds lost in April was $103.7 million, bringing the year-to-date total loss to $429.7 million. The month was particularly marred with major crypto exploits, such as $25.4 million lost due to an exploit of several MEV trading bots…

Bitcoin miner Iris Energy faces $103M default claim from creditors

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According to a new filing with the U.S. Securities and Exchange Commission on Monday, Bitcoin (BTC) miner Iris Energy says it has received a default notice from mining rig manufacturer Bitmain Technologies. The notice alleged that Iris Energy failed to “engage in good faith restructuring discussions” for certain principal payments due on Nov. 8. Additionally, Iris Energy received a separate notice last week from creditors alleging that it “failed to maintain sufficient insurance” and would constitute a default if not remedied within 10 days.  Headquartered in Australia, Iris Energy is…

Bitcoin Miner Iris Energy Faces Default Claim on $103M of Equipment Loans

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The reason for the notice of default, which the lender sent to the miner on Nov. 4, is the company failed to engage in “good faith restructuring discussions” for the debt in question, according to a Monday filing with the U.S. Securities and Exchange Commission. Because Iris failed to engage in such discussions, the lender is claiming it defaulted on payments originally scheduled for Oct. 25, the Monday filing said. As such, the filing continued, the lender looks to trigger an acceleration clause, meaning it is demanding immediate payment of…