Tag: Report

$7.8B lost in crypto ponzi and pyramid schemes in 2022: Report

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According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by TRM to have been spent on darknets for illicit activities, while another $3.7 billion in crypto was lost in hacks or exploits. In total, $9.04 billion in crypto were sent to all types of financial fraud schemes, as alleged by TRM Labs. Despite a collapse in cryptocurrency prices from the ongoing…

Bankrupt FTX Initiates Early Talks on Crypto Exchange Relaunch: Report

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Bankrupt digital asset exchange FTX has kicked off initial discussions with potential investors as part of efforts towards relaunching the cryptocurrency trading platform, Wall Street Journal reported on Wednesday, citing John J. Ray III, the exchange’s new Chief Executive Officer. Explore limitless, instant crypto swaps. Choose from 1000+ coins and tokens and exchange with no registration or sign-up. Experience a platform that prioritizes your data privacy and fund security. According to the American publication, FTX is considering floating a rebranded entity operated through various structures, including as a joint venture.…

OKX’s monthly reserves report shows over $11.3b in crypto holdings

Crypto exchange OKX, a well-known exchange, has published its eighth consecutive monthly report on proof-of-reserves (PoR). The report reveals the balances of BTC, ETH, and USDT held by OKX, totaling a significant amount of $11.3 billion. According to the report, OKX has maintained a reserve ratio of over 100% for eight months. The PoR report includes various assets such as USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI, in addition to BTC, ETH, and USDT. BTC, ETH, and…

More institutions will soon embrace bitcoin, report says

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The crypto industry has witnessed a massive bear storm over the past 18 months as high inflation threats finances. Despite the red market conditions, a recent report by CryptoQuant suggests that Bitcoin’s (BTC) institutional adoption is on the rise. For instance, top fintech companies have accumulated significant BTC amounts over the past three years. According to the report, Microstrategy’s bitcoin purchases are worth almost $4 billion, while the BTC price is still down by 55% from…

Israel has Seized Millions in Crypto From Iranian Military and Hezbollah: Report

“This is the first incident of this magnitude,” the report said, quoting Gallant. “We have effectively cut off the flow of terror funds via this channel.” He also alleged that Iran’s military and Hezbollah relied on virtual currency to finance their militant activities, according to the report. Source CryptoHezbollahIranianIsraelMilitaryMillionsReportSeized CryptoX Portal

FTX suspends $500M sale of stake in AI firm Anthropic: Report

The sale of FTX’s $500 million stake in artificial intelligence startup Anthropic has reportedly been put on hold, adding a potential delay to the bankrupt crypto exchange’s efforts to fill a $2 billion remaining hole in its balance sheet. On June 27, Bloomberg reported — citing people familiar with the matter — FTX’s advisory investment bank Parella Weinberg Partners paused the sale of FTX’s Anthropic stake this month, despite multiple parties being interested in buying up FTX’s stake. A sale of the stake would be a significant monetary recovery for…

Over $204M was lost in Q2 DeFi hacks and scams: Report

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Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods. Funds lost and recovered in Q2 2023. Source: De.Fi According to the report, the number of DeFi hacks in Q2 rose by…

Web3 firms are spending up to $25M on HK crypto licenses: Report

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According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million and 200 million Hong Kong dollars ($2.55 million and $25.5 million) for the acquisition of a Virtual Asset Service Provider (VASP) licenses. Sources explained: “Since traditional financial institutions have no relevant prior infrastructure, and have gone from zero to one in various aspects such as products and teams, the cost [associated with VASPs] has been very high. However, even for an experienced cryptocurrency institution, the cost of…