Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

When Security Breaches Strike: Unpacking Recent DeFi Domain Attacks In the rapidly evolving world of decentralized finance (DeFi), staying one step ahead of potential security threats is a constant battle Two prominent DeFi projects, Compound and Celer Network, recently found themselves at the forefront of this battle, falling victim to critical domain attacks that put their users' assets at risk This incident serves as a stark reminder of the ever-present dangers lurking in the digital finance sphere The Chain Reaction of Compromise The initial wave of concern washed over the DeFi community when reports surfaced about the compromise of Compound's website This protocol, known for enabling users to lend and borrow cryptocurrency securely, suddenly became a trap for unsuspecting visitors...

Crypto Hack Losses in June Decline The cryptocurrency realm witnessed a notable decrease in hack losses this June, with the figures tumbling down by an impressive 54 2% from the previous month This translates to approximately $176 million being siphoned off due to nefarious activities, a reduction from a much larger sum of $385 million seen in May The crypto landscape, albeit volatile, seems to have tightened its security loopholes somewhat Despite the significant drop in June, the second quarter of the year saw more than double the losses compared to the second quarter of the previous year, with losses amounting to a staggering $572 million...

The Digital Economy's Invisible Threat: A Deep Dive into Crypto Hacks and Fraud The digital frontier of cryptocurrency has been facing an invisible yet formidable threat that seems to be gaining momentum Recent findings have revealed a stark increase in the amount of money lost due to hacks and fraud within the crypto space, signaling a worrying trend that demands immediate attention and action As technology advances, so too do the methods used by cybercriminals, evolving in sophistication and audacity The Rise in Crypto-Related Crimes The second quarter of the current year has been marked by a jaw-dropping 91% increase in losses due to cyberattacks compared to the same timeframe last year The numbers are nothing short of alarming, with an estimated $509 million vanishing into thin air, a testament to the ever-present danger lurking within the crypto industry...

In a bid to create blockchain-based games, Zynga has entered into a strategic partnership with software maker Forte