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Nexus Mutual, one of the largest insurance platforms covering high-risk decentralized finance (DeFi) deposits, is waiting to get paid back by five clients who filed claims after the March incident, according to on-chain data. Together, those clients represent about $2 million in crypto of the nearly $2.4 million in total
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The announcement comes five months after a bad actor minted $1 billion worth of pGALA, a wrapped version of GALA that trades on BNB Chain, and offloaded the tokens on decentralized exchanges including PancakeSwap, plunging the price of the GALA 94%. PNetwork, Gala Games’ cross-chain interoperability bridge, said at the
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According to an official Telegram statement on March 1, Singaporean cross-chain crypto wallet developer BitKeep says it has reimbursed 50% of user assets lost during a security breach stemming from Dec. 26, 2022. On the date of the incident, an estimated $8 million was stolen by hackers after BitKeep's APK
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Since the release of The Register’s article, multiple people told CoinDesk they suspect that some scammers posing as victims have tried to infiltrate the victims’ Telegram group to collect information on what they know and which authorities they’ve spoken to, causing more distrust among members who already have lost a
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.In the aftermath of a deadly 7.8-magnitude earthquake in southeastern Turkey, the Web3 community has come together to raise awareness and aid for disaster victims.Stablecoins
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A former employee of breakdown services company RAC has plead guilty and been fined for the stealing of data of victims of road traffic accidents. Asif Iqbal Khan, 42, was working for RAC as a Customer Solutions Specialist. Over
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The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams according to an independent analysis.A Jan. 29 joint investigation by media firms the Bureau of Investigative Journalism and the Observer suggested organized crime groups are using the U.K. as their
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A group calling itself “Victims of Ankr Exploit” have claimed that its members lost over 13,000 BNB liquid staking coins (over $4 million worth at the time of writing) as a result of the Dec. 2 Ankr exploit, but have not been adequately reimbursed by the Ankr company. According to
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Philippine authorities say that they have rescued alleged victims of a “crypto trafficking ring” who were recruited to work in a call center in Cambodia and scam people out of their cryptocurrencies. The authorities are also investigating government employees who may have assisted crypto trafficking syndicates. Alleged Victims of ‘Crypto Trafficking
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While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators. Chainalysis
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