Quick weekly news:
- Bitcoin Cash Forks Again, New Bitcoin Cash Node (BCHN) Chain Emerges
- Hackers Are Removing $10M From DeFi Market Per Month
- Paypal Opens Crypto Services For US Customers
- ShapeShift Removes all Privacy Coins From its Platform
Other notable events include:
- Since 2011, $7.6 billion worth of cryptocurrencies have been stolen through hacks or scams, according to a new Crystal Blockchain report.
- Despite a DeFi cooldown, the number of tokenized BTC on Ethereum increased 21% since September.
Also, be sure to check out top altcoin gainers and losers of the week
$7.6B stolen
Since 2011, $7.6 billion worth of cryptocurrencies have been stolen through hacks or scams, according to a new Crystal Blockchain report. Approximately $2.8 billion was stolen through 113 security breaches, with a concentration of hacks taking place in the U.S., Japan, U.K., China and South Korea. Another $4.8 billion was stolen through scams, with Crystal Blockchain identifying 23 prominent fraud schemes. Noting the the number of hacks and scams seems to be holding steady, malicious actors are growing more sophisticated. Proper insurance, reserve balances, in-house security teams and blockchain analytics software are all recommended remedies.
Tokenization chill
Despite a DeFi cooldown, the number of tokenized BTC on Ethereum increased 21% since September. There are now well over 150,000 BTC, worth some $2.3 billion, on Ethereum. However, the trend has slowed significantly. Roughly $360 million worth of bitcoins was tokenized in October, compared to the $737 million tokenized in September, according to data from Dune Analytics. Notably, the pace of tokenization still outpaced the rate of mining issuance for the third consecutive month.
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