DeFi Hacks Are Skyrocketing in October: Chainalysis

While the total value locked in decentralized finance has fallen massively this year, the hacks and thefts across the space are not slowing down.  According to Chainalysis, this October has already become the “biggest month in the biggest year” for crypto hacks. Overwhelming Hacks As the blockchain intelligence firm tweeted on Wednesday, four significant DeFi hacks occurred on Tuesday alone. Across the month, 11 hacks have occurred in total, resulting in $718 million dollars being stolen. Yet the month is…

Chainalysis Secures $170 Million in a GIC-Led Funding Round

Chainalysis, one of the top crypto and blockchain intelligence firms, has raised $170 million in a Series F funding round. A report unveiled this news earlier today, citing a person familiar with the matter. This funding round doubled Chainalysis' valuation to $8.6 billion. According to the report, GIC, a Singapore-based sovereign wealth fund, led this funding round. The source did not mention other investors in the new funding round. However, it is worth noting that GIC has previously invested in…

Share Of Criminal Transactions In Crypto At All-TIme Low, According To Chainalysis

Chainalysis – a blockchain data platform – recently released its 2022 crypto crime report, and discovered an interesting pair of facts. While illicit crypto transactions are at record highs, their proportional share of blockchain activity is at an all-time low. This casts doubt on numerous politicians’ assertions that cryptocurrencies are only a haven for nefarious actors. Trends In Crypto Crime According to the firm’s report released on Monday, blockchain addresses deemed “illicit” received $14 billion worth of crypto in 2021.…

Blockchain Analytics Firm Adds Bitcoin To Its Balance Sheet

Chainalysis – a commonly used blockchain data company – recently invested in an unspecified amount of Bitcoin. The investment comes as Bitcoin's price creeps ever closer to all-time highs and surpasses its market cap record from May. Chainalysis Plans to HODL The data provider announced its latest investment in a blog post today and simultaneously confirmed a new partnership with NYDIG. NYDIG is a Fintech service provider for banks, corporations, and institutions. The financial company has allowed Chainalysis to add…

Europe’s Largest Crypto Market Counts Over $1Trillion in Transactions

According to recent reports, Europe has become the world's largest crypto market for DeFi adoption driving investments. European countries received over $1T worth of cryptocurrency over the last year. This figure represents about 25% of global cryptocurrency activity. Chainalysis released this report on Tuesday, as UK and Germany termed as the countries leading the adoption. According to the report, the CNWE region accounts for almost 30% of the global crypto movement between July 2020 and June 2021. The region saw a significant uptrend in…

Crypto Darknet Market Revenue Hit $1.7 Billion in 2020

Cryptocurrencies have always been known for their infamous use among darknet market platforms. According to a report from Chainalysis, Crypto darknet revenue hit a new record of $1.7 billion in 2020.  Eastern Europe Dominates Darknet Crypto Transactions This new record comes as individual purchases from darknet markets reduced from 2019 to 2020. This could be attributed to the Covid-19 pandemic that led to a global shutdown of movements in the early parts of 2020. The $1.7 billion revenue generated in…

Cryptocurrency-related crimes reduced in 2020, says report

A new report from Chainalysis has indicated that the share of crypto transactions linked to criminal activities fell in 2020. According to the report, the percentage reduced from 2.1 recorded in 2019 to only 0.34. However, ransomware attacks have tripled in volumes when compared to what was recorded in 2019. A major drop in cryptocurrency criminal activities So often, regulators and mainstream media point out that criminals use cryptocurrencies like Bitcoin. Although the argument has been proven false in recent…

Crypto Anti-terrorism Bill Introduced in the U.S. House of Representatives

Representative Ted Budd (R-NC) has enacted a new law to create an agency to combat the use of cryptocurrencies in terrorism. The bill, H.R. 296, is co-sponsored by Representatives Warren Davidson (R-OH), Stephen Lynch (D-MA), Byron Donalds (R-FL), and Darren Soto (D-FL) and was introduced into jurisdictions following the establishment of the working group. The bill also seeks to provide rewards for information leading to convictions related to digital currency earthquakes. It will establish Fintech's leadership in innovation and financial…

Cryptocurrency Scammer’s Revenues Declined By 30 Percent in March

Scammers have been trying to leverage the fears over the current pandemic to dupe people. They are trying to lure people to download malicious applications, donate to fake charities, or purport to sell coronavirus fears. However, the pandemic seems to have led to a steep fall in the revenues of cryptocurrency scammers. On April 10, Chainalysis released data showing that the average value of transactions received by the wallets of known scams reduced by 30 percent last month. Besides, the…

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