#Web3 bug bounty platform Immunefi has revealed that the cryptocurrency industry lost an estimated $509 million to hacks and fraud in the second quarter of 2024, marking a staggering 91% increase from the same period last year. May 2024 alone saw the highest monthly losses recorded, amounting to $107 million. June, however, experienced a slight reprieve with losses dropping to $78 million across 12 incidents, a 27% decrease from the $107 million lost in June 2023.
Centralized crypto institutions were the prime targets, accounting for two-thirds of successful attacks, according to the Immunefi report. The findings also highlighted that Ethereum was the most exploited blockchain during the quarter, followed by the BNB chain and Arbitrum, representing 44.4%, 25%, and 5.6% of the total losses, respectively.
Jonah Michaels, Communications Lead at Immunefi, noted that Ethereum’s prominence as the main hub for DeFi activity, coupled with the vast amount of funds locked within its ecosystem, makes it a prime target for hackers. He explained that hackers exploit numerous protocols on Ethereum for significant gains, and its connection to major privacy-focused chains and technologies facilitates the quick laundering of stolen funds.
The most significant loss this quarter was suffered by Japanese centralized exchange DMM Bitcoin, which fell victim to hackers and lost an astonishing $305 million. In response, DMM Bitcoin has instituted measures to reimburse affected customers. Other notable targets included BtcTurk, Hedgey, Lykke, Gala Games, and SonneFinance, which collectively faced losses totaling $164.2 million.#CryptoTradingGuide #ETH_ETFs_Approval_Predictions #Megadrop #LayerZero

#binance just released an update about cracking down on account misuse. Here's the breakdown:
Some users were exploiting account features to gain unfair advantages (like better fees).
#Binance is taking action! They're stepping up monitoring and will shut down accounts found misusing features. Good news for regular users: This creates a fairer playing field for everyone.
See something, say something! If you suspect account misuse, report it to Binance. They're even offering rewards for verified reports.
Overall, this is a positive move from Binance to keep things fair and secure for all users. #BinanceTournament #CryptoTradingGuide #Megadrop $BNB

$1. Impressively, Firo received the 2020 FAT Blockchain Award for being the most popular blockchain project within the community. Besides this, the project has also launched the Firo Watch app for Android WearOS to monitor the price.
2. $FIRO coin can be mined using a home computer or mining pool. Its block processing time is approximately five minutes, with 12.5 coins per block awarded. Furthermore, Firo follows the Bitcoin halving schedule. Hence, its supply decreases to half approximately in every 4 years.
In addition, last year, the Firo team decreased its supply to half. As a result of the first halving event, the total block rewards dropped from 25 FIRO per block to 12.5 FIRO per block.
3. $FIRO is integrating with renVM to allow trustless bridging of Firo into Ethereum, which allows users to enter and exit the DeFi ecosystem trustlessly and without KYC. Furthermore, the team is also working on a mobile wallet that will have full Lelantus transaction support. This SDK innovation will permit third-party wallets to support Lelantus.
4. Recently, the team also activated ChainLocks on Firo to safeguard its ecosystem against any kind of attack. With this advancement, attackers would need nearly 50% of all masternodes to be taken over to disable ChainLocks. Additionally, an attacker would also need to obtain vital amounts of Firo to attack.
#CryptoTradingGuide #BinanceTournament #Megadrop $FIRO

Stability AI Secures Over $100 Million Investment Led By Sean Parker
According to Odaily, Stability AI, a leading artificial intelligence company, has secured an investment exceeding $100 million. The funding round was led by an investment group headed by Sean Parker. The exact amount of the investment, however, has not been disclosed.
In addition to the funding news, Stability AI also announced a change in its leadership. Prem Akkaraju, the former CEO of visual effects company Weta Digital, will take over the position. This change in leadership is expected to bring new perspectives and strategies to the company's operations.
Previously, Stability AI had announced a collaboration with Render Network. The partnership aims to leverage a decentralized GPU network to expand AI training and inference capabilities on a large scale and at a low cost. This strategic move is expected to significantly enhance the company's AI capabilities and market position.
#CryptoTradingGuide

$XRP It's been a year since I made the decision to invest in XRP, and I've come to a sobering realization: maybe it wasn't the wisest choice. In fact, at times, I've felt downright foolish for buying into it. Here's why.
When I first bought XRP, I was swept up in the hype surrounding cryptocurrencies. The promises of quick gains and revolutionary technology were enticing. Ripple's partnerships with major financial institutions seemed like a surefire sign of success. I thought I was making a smart investment, one that would surely pay off.
However, reality hit hard. The volatility of the crypto market became painfully apparent. XRP's price fluctuations kept me on edge, constantly checking my portfolio and hoping for a turnaround. Regulatory challenges faced by Ripple added to the uncertainty, causing further dips in value. What I initially saw as a promising investment turned into a rollercoaster of emotions and financial stress.
Looking back, I realize that I underestimated the risks involved. I didn't fully grasp the complexities of the cryptocurrency landscape or the potential regulatory hurdles that could impact XRP's future. My decision was driven more by FOMO (fear of missing out) than by a thorough understanding of the market dynamics.
Despite these challenges, this experience hasn't been all negative. It's taught me valuable lessons about investing. I now understand the importance of conducting extensive research, diversifying my portfolio, and staying updated on regulatory developments. I've also learned to approach investments with a long-term perspective, rather than chasing short-term gains.
While my journey with XRP hasn't been as profitable as I had hoped, I don't consider myself stupid for buying it. Instead, I see it as a learning opportunity. Investing in cryptocurrencies is inherently risky, and setbacks are part of the game. What matters most is how we learn and grow from our experiences.
As I reflect on the past year, I'm grateful for the insights gained and the resilience developed. Moving forward, I'll apply these lessons to make more informed investment decisions. Whether it's cryptocurrencies or traditional assets, I now approach investing with a blend of caution, curiosity, and a willingness to adapt.
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This reflection captures the emotional and educational journey of investing in XRP, highlighting the challenges faced and lessons learned along the way. $XRP #AirdropGuide #EarnFreeCrypto2024

Nowadays, I need to share a individual encounter that has cleared out me feeling very down:
my later wander into buying VIC. As somebody who's continuously been cautious with ventures, this choice was a enormous step for me. I did my investigate, counseled with companions who are more experienced within the crypto world, and felt sensibly certain in my choice.

In any case, without further ado after making the buy, the advertise took a turn that I hadn't expected. The esteem of VIC plunged out of the blue, taking off me in a state of dissatisfaction and worry. It's not around the monetary misfortune, but moreover the enthusiastic venture I made in trusting for a positive result.

I know that contributing continuously carries dangers, and I acknowledged that going in. However, encountering it firsthand has been a calming update of the instability of cryptocurrencies and the capriciousness of markets in common. In spite of feeling crippled presently, I'm attempting to learn from this encounter and get it what went off-base in my approach.

Moving forward, I'll take this as a important lesson in expansion and chance administration. I still accept within the potential of cryptocurrencies and blockchain technology, but maybe I got to refine my technique and approach it with indeed more prominent caution.

For anybody else considering entering the world of crypto or contributing in common, my counsel would be to thoroughly inquire about, differentiate your speculations, and be arranged for ups and downs. It's a travel of learning and development, and difficulties are portion of the method.

As for me, I'll continue to screen the circumstance with VIC and explore for openings to form more educated choices within the future. This encounter hasn't prevented me completely from investigating other venture roads, but it has certainly given me a recently discovered regard for the complexities of the advertise.

Have you had a similar experience with cryptocurrencies or other speculations? I'd adore to listen your considerations and experiences. Let's learn from each other's encounters and develop together in our money related ventures. ##AirdropGuide #EarnFreeCrypto2024 $VIC

#AirdropGuideand #AirdropGuide Crypto airdrops are a promoting strategy utilized inside the cryptocurrency community to disperse free tokens to holders of a specific cryptocurrency. Here's how they for the most part work:
1. **Declaration:
** Ventures declare an airdrop to make mindfulness and pull in modern clients.
2. **Qualification:
** To take part, clients ordinarily got to meet certain criteria such as holding a least sum of a particular cryptocurrency (like Ethereum or Bitcoin) in their wallet at a indicated piece stature.
3. **Preview:
** A depiction of the blockchain is taken at a particular piece stature or time. Anyone holding the specified cryptocurrency in their wallet at this preview time is qualified to get the airdropped tokens.
4. **Conveyance:
** After the preview, qualified members get the airdropped tokens specifically in their wallets. This dispersion can happen quickly or over a period of time, depending on the extend.
5. **Reason:
** Airdrops are utilized to bootstrap a unused cryptocurrency's client base, increment mindfulness, remunerate steadfast clients, or energize holders to lock in with a unused stage or token.
6. **Sorts:
** There are diverse sorts of airdrops, counting standard airdrops where tokens are unreservedly dispersed, forked airdrops that happen when a blockchain experiences a fork and makes a unused cryptocurrency, and more vital airdrops utilized by ventures to realize particular promoting or community-building objectives.
It's vital for clients to be cautious around partaking in airdrops, as a few may be tricks or phishing endeavors. It's suggested to confirm the authenticity of the extend and the airdrop some time recently giving any individual data or private keys. #CryptoAirdrops $SOL