A man has been given a five-year prison sentence for his involvement in stealing and laundering about 120,000 bitcoin, valued at over $11 billion based on current prices, from the cryptocurrency exchange Bitfinex.
The month of October saw various security incidents in the cryptocurrency world, such as exit scams, flash loan attacks, and exploits, resulting in a total of $129.6 million in losses.
Radiant Capital, a platform facilitating cross-blockchain lending and borrowing of cryptocurrency, suffered a major security breach on Wednesday.
Crypto exchange BingX, which is based in Singapore, has confirmed a security breach after noticing multiple withdrawals from one of its online hot wallets that seemed suspicious.
Indonesian cryptocurrency exchange Indodax lost $22 million in various cryptocurrencies and has temporarily disabled its mobile and web applications to conduct a thorough investigation into the breach.
A new FBI report released on Monday has revealed that investors have lost a record-breaking $5.6 billion to crypto-related financial crime in 2023, a sharp increase of 45% from the previous year.
According to the most recent CertiK Web3 Security Report, there has been a significant loss of $1.19 billion due to security incidents on blockchain in the first half of 2024.
