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Report: Cryptocurrency stolen from cross-chain bridges totals $2 billion so far this year



Time:8/4/2022 12:01:34 PM

[Report: The total amount of cryptocurrencies stolen from cross-chain bridges has reached 2 billion US dollars so far this year] On August 4th, Chainalysis recently released a report showing that the amount stolen from cross-chain bridge attacks accounted for 2022 The total number of stolen cryptocurrencies 69% of the total, the loss amounted to 2 billion US dollars. There have been 13 cross-chain bridge attacks this year, including the recent $190 million Nomad cross-chain bridge attack and the $624 million Ronin cross-chain bridge attack in March this year.

Cross-chain bridges are often targeted by hackers because they "have a central point of storage for funds that support the receipt of bridged assets on the blockchain," the report said. Chainalysis emphasized that cryptocurrency services, including cross-chain bridges, should start investing in security upgrades and training as early as possible. Additionally, the report noted that centralized exchanges were once a favorite target of hackers, but with advances in security protocols, successful cyberattacks have declined. (Cointelegraph)

Other news:

Report: Inflows of Institutional Crypto Funds Dropped 97% in Three Weeks: Jinse Finance reported that according to a Jan. 11 report by crypto fund management company CoinShares, only $29 million flowed into institutional crypto products during the first week of the new year. That's down more than 97% from the $1.09 billion invested in the week before Christmas. Trading volumes are likely to be subdued as traders are on holiday for the new year.

However, the firm also pointed out that there has been "potential profit-taking" recently following a surge in inflows in December, with multiple crypto investment products recording weekly outflows in early January. As of Jan. 8, CoinShares estimated that funds held in crypto investment products were $34.4 billion — of which $27.5 billion, or 80 percent, was locked in BTC funds, while $4.7 billion, or roughly 13.5 percent, was invested in ETH products .

Bitcoin funds have also generated stronger volumes recently than during the December 2017 bull run, the report noted. \"We've seen a huge increase in investor participation this time around, with net new assets of $8.2 billion, compared to just $534 million in December 2017." (cointelegrap) [2021/1/12 15:57:17]

Report: Bitcoin network’s daily economic throughput hits $2.1 billion: Ambcrypto posted that the Bitcoin network’s economic throughput has been on the rise. Glassnode’s latest report shows that the network is currently seeing around $2.1 billion in daily economic throughput, a huge comeback since a drop was observed earlier this year. It is reported that the indicator measures the financial bandwidth of Bitcoin by the number of transactions and the average transaction price in US dollars. [2020/7/23]

News | Report: Facebook's huge distribution channels and user base may seamlessly guide Libra adoption: According to AMBCrypto news on June 22, Circle Research, a B2B market research organization, pointed out that the most obvious advantage of Libra is that Facebook's hyped encryption project will be integrated into some of the "world's most prominent and entrenched consumer apps and payment service providers," seamlessly "onboarded" by leveraging Facebook's vast distribution channel and user base of more than 2.3 billion monthly active-ethexc users use". Dante Disparte, head of policy and communications for the Libra Association, said, "This project implies that as long as the Visa or Mastercard logo-ethexc is accepted, Libra will follow suit." , Yen, Euro and British Pound. The study also added, “The Libra Association has the flexibility to adjust the composition of the reserve to add or replace assets as needed (i.e. economic crises). Libra could potentially educate many people outside the crypto industry about the technology and its Related aspects include digital wallets, encrypted exchanges, public key cryptography, pseudonyms, peer-to-peer payments, and immutable ledgers. Libra may drive improvements in user experience, while Ethereum DApps seem to be lagging behind. The report states that Libra can provide Provide a way for users of Facebook, Calibra, and other social networking sites to more easily explore and interact with Open Finance and other applications. [2019/6/22]

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