Mediaboss Marketing

Last updated: April 16, 2024 05:37 EDT | 2 min read

Ethereum has emerged as the leading victim of blockchain hacks in 2024, with 33 reported incidents, according to a recent study.

Smart Betting Guides data reveals that, following Ethereum, BNB Chain has been impacted by the most hacking incidents (14) in 2024. Arbitrum and Solana have each experienced 6 incidents, while Bitcoin has seen only two.

Notably, the Decentralized Finance (DeFi) sector has been the most susceptible to these attacks, accounting for all reported incidents thus far this year.

The top 10 largest losses so far this year are:

Orbit Bridge: $81,680,000 Munchables: $62,800,000 PlayDapp: $32,350,000 FixedFloat: $26,100,000 GMEE: $15,000,000 WOOFi: $8,750,000 Coinspaid: $7,500,000 Abracadabra Money: $6,500,000 Seneca: $6,500,000 Gamma Strategies: $6,200,000

The report additionally revealed that crypto users have incurred significant losses exceeding $437m through scams and hacks in 2024. Fraudulent activities, including rug pulls, also contributed to the total losses, albeit to a lesser extent, amounting to $14m.

Additionally, a recent CertiK report indicates a significant decline in crypto theft during March. The report detailed that malicious actors stole about $79m from DeFi projects, reflecting a substantial 48% decrease compared to the $160m stolen in February.

In March, one of the most significant crypto thefts involved a MakerDAO-based smart contract deployed by Curio on Ethereum. While initial estimates placed the loss around $16m, PeckShield later revised the figure, suggesting the actual amount stolen could be closer to $40m.

Prisma Finance suffered the second-largest loss in March, with a flash loan attack leading to the misappropriation of about $12.4m. The attacker, who self-identified as a white-hat hacker, initially promised to return the stolen funds following an online conference held by the projects team.

However, during the event, the attackers demands shifted, requiring the team members to publicly disclose their identities and issue an apology.

According to CertiK, security breaches were found to extend beyond DeFi protocols. The Binance-backed platform NFPrompt experienced a cyber intrusion, resulting in misappropriated funds of about $10m. Additionally, the WooFi decentralized exchange reported losses of roughly $8.5m following a hacking incident.

According to Smart Betting Guide, securing crypto involves keeping passwords and seed phrases off cloud storage. Seed phrases, acting as recovery keys, are vulnerable to theft by hackers attempting to steal cryptocurrency.

For further protection, the report recommended using a hardware wallet. This device, resembling a USB drive, securely stores a users private keys offline (cold storage). When needed, the keys can be connected online to complete transactions.

Further, users should implement critical security measures. These include refraining from clicking links in dubious emails, implementing Two-Factor Authentication (2FA) for logins, and avoiding interaction with online pop-ups or links. Additionally, vigilance against messages promising rapid financial gains is advised, as these often originate from fraudulent accounts, a prevalent social media scam.

Read more here:

Ethereum Suffers Most Hacks Among Blockchains in 2024 - Cryptonews

Furrever Token

New York, NY, April 15, 2024 (GLOBE NEWSWIRE) -- As the cryptocurrency community approaches the 2024 Bitcoin(BTC) halving, excitement builds not just for the potential effects on Bitcoin's price, but also for the broader implications for the market, including Ethereum(ETH) and emerging assets like Furrever Token(FURR). This particular halving event, set for April 2024, coincides with significant market developments, notably the rise of Bitcoin Exchange-Traded Funds (ETFs), which could reshape investment strategies and market liquidity. Bitcoin's upcoming halving will reduce the reward for mining transactions by half, potentially constricting supply and influencing prices in a market that has already seen Bitcoin, Ethereum, and others like Furrever Token, make substantial gains. The interplay between these factors and the new dynamic introduced by ETFs could lead to unprecedented outcomes in the crypto space.

Bitcoin (BTC) Halving: A New Chapter in Crypto With the Rise of ETFs

The Bitcoin (BTC) community is poised on the brink of the 2024 Bitcoin halving, an event that could catalyze the cryptocurrency landscape. Scheduled for April 2024, this halving is not just another cycle in Bitcoin's existence but may mark a significant turning point for broader crypto adoption. Unlike previous halvings, the upcoming event coincides with the emergence of Bitcoin Exchange-Traded Funds (ETFs), introducing a dynamic that could reshape market reactions post-halving.

Bitcoin's supply is finite, capped at 21 million coins. Every four years, the Bitcoin network undergoes a 'halving' where the block rewards given to miners are reduced by half. This mechanism decreases the rate at which new bitcoins are created, aiming to prevent inflation and preserve scarcity. Historically, each halving event has led to considerable bullish trends in Bitcoins price. For example, after the 2012 halving, Bitcoins price escalated from around $12 to over $1,000 within a year. Similar patterns followed the 2016 and 2020 halvings, with prices peaking at around $20,000 and over $60,000, respectively.

While past performance due to halving is notable, it's crucial to recognize that these price surges also aligned with significant global economic events, such as the European debt crisis, the ICO boom, and the COVID-19 pandemic. These events underscore the influence of broader economic contexts on Bitcoins market behavior, indicating that halving impacts are intertwined with global economic health and investor sentiment.

Story continues

The 2024 halving introduces a novel factor that could significantly influence Bitcoin's market dynamicsthe approval and operation of spot Bitcoin ETFs in the United States. These financial products allow a wider range of investors to engage with Bitcoin without the complexities of direct cryptocurrency handling, potentially enhancing mainstream adoption. The first quarter following the introduction of these ETFs saw about $12.1 billion in total inflows, suggesting a strong demand for Bitcoin through this new investment avenue.

The presence of Bitcoin ETFs could potentially absorb some of the post-halving sell pressure typically expected from miners reducing their holdings due to lower block rewards. By offering a new route for capital inflow into the Bitcoin market, ETFs provide a buffer against the volatility usually associated with reduced miner income.

As the 2024 halving approaches, the interplay between reduced miner rewards and the influx of funds via ETFs could mirror yet another halving effect, softening potential price drops and supporting gradual price increases. This synergy between ETF adoption and evolving market structures lays a robust foundation for Bitcoin's sustained rise, potentially influencing the entire cryptocurrency ecosystem.

As the cryptocurrency market matures, the 2024 Bitcoin halving emerges as a pivotal event, augmented by the integration of ETFs into the market structure. For investors and market participants, understanding these shifts is crucial. Staying informed and adaptable will be key in navigating the intricacies of this halving event, enabling stakeholders to capitalize on emerging opportunities and mitigate potential challenges. In this evolving narrative, Bitcoin not only retains its status as the leading cryptocurrency but also demonstrates its resilience and adaptability in an ever-changing financial landscape.

Ethereum (ETH) Dips Below the $3,200 Mark as Whales and Institutions Offload Holdings

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is currently experiencing significant selling pressure, exacerbated by large-scale dispositions from whales and key institutional players. As the broader cryptocurrency market faces a downturn, with over $900 million in liquidations recorded in the last 24 hours, Ethereum has not been spared, seeing its price struggle to maintain support levels.

Recently, Ethereum's price momentarily dipped below the $3,200 mark to reach $3,161 before recovering slightly to hover around the $3,280 level, marking a 5.62% decrease within a single day. This volatility has been partly attributed to substantial sales by major Ethereum holders. According to data from Lookonchain, four significant entities offloaded a total of 31,683 ETH, worth approximately $106 million, contributing to the downward pressure on prices.

The transactions involved well-known entities in the crypto space:

- Cumberland deposited 17,206 ETH onto exchanges, valued at around $57.3 million.

- Wallet address 0xC3f8 moved 7,976 ETH to Binance, totaling about $26.6 million.

- Wallet 0x1717 transferred 4,000 ETH, worth approximately $13.32 million, to various trading platforms.

- Alameda/FTX was reported to have moved 2,500 ETH to Binance, which amounts to roughly $8.33 million.

These moves reflect a broader trend of large-scale Ethereum sales, which can significantly impact the market due to the substantial volumes involved.

The continuous flow of ETH to exchanges suggests that the selling pressure may not abate soon. Another report from Whale Alert highlighted an additional transfer of $158 million worth of Ethereum to Binance by an unknown wallet, indicating the potential for further sell-offs in the open market.

Aside from market actions, Ethereum is grappling with several ecosystem challenges that may be influencing investor sentiment negatively. Recent developments have cast doubt on the prospects for an Ethereum ETF, as regulatory and market hurdles continue to loom large. This uncertainty, combined with the active shedding of assets by major stakeholders like Alameda/FTX, suggests a tough road ahead for Ethereum.

As Ethereum navigates through these turbulent market conditions, the community and potential investors are closely monitoring these developments. The influx of large volumes of ETH onto exchanges and the accompanying sell-off activities by prominent institutional players are crucial factors that market participants will need to consider. These dynamics are pivotal in shaping Ethereum's short-term price movements and broader market standing amidst an already volatile financial landscape.

Furrever Token (FURR) Priced at $0.00048 as Presale Exceeds $780,000

Furrever Token (FURR) is swiftly making its mark as a distinguished investment in the vibrant cryptocurrency market, drawing significant interest for its robust growth potential and appealing investor opportunities. Demonstrating outstanding success through its presale events, FURR has consistently attracted substantial investments. Presently in its sixth presale phase, the token has successfully raised over $780,000, illustrating its escalating popularity and the strong endorsement it enjoys from the cryptocurrency community.

FURR positions itself as an exceptionally attractive investment by offering the potential for investors to achieve up to 15X returns from each presale stage. Currently priced at $0.00048, the token presents an opportune entry point for investors looking to leverage its projected growth.

The token's appeal is further reinforced by the robust community support it commands. With more than 4,300 active participants on its official Telegram channel, FURR is at the center of dynamic discussions, collaborative initiatives, and regular updates, all of which enrich the investment experience for its community members.

Looking to the future, FURR's strategic roadmap and development plans signal a strong commitment to carving out a significant presence in the meme coin market. The team behind FURR is focused on rolling out innovative features, forging strategic partnerships, and launching targeted marketing efforts, all aimed at boosting the token's adoption and enhancing its market value.

Overall, Furrever Token stands as a highly compelling investment proposition, supported by solid fundamentals, an active and enthusiastic community, and a promising outlook for expansive growth. As FURR advances toward achieving its strategic goals, it is well-equipped to provide significant returns to early investors who tap into its potential.

Secure the Most Exclusive Presale Opportunity of 2024 Today!

Furrever Token Official Website|Visit Furrever Token Presale

Join Official Telegram Group | Follow Official X Account

Disclaimer:The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

Read the original post:

Halving 2024: How Bitcoin (BTC), Ethereum (ETH), and Furrever Token (FURR)'s are Poised to Transform in the New ... - Yahoo Finance

With momentum carried over from the relatively smooth hard fork upgrades Shapella (Shanghai+Capella) and Dencun (Deneb+Cancun), Ethereums next hard fork was supposed to be a breeze. Nevertheless, several analysts are waving red flags about one of its code changes, EIP-3074.

Through EIP-3074, Pectra will introduce codes that permit users to delegate all of their Ethereum assets to so-called Invokers externally owned accounts (EOA) that users must trust to not steal their money.

Following the naming convention of star + city portmanteau, the upcoming hard fork Pectra (Electra+Prague) will introduce two new operation codes: AUTH and AUTHCALL. Together, these codes make up Ethereum Improvement Proposal number 3074 (EIP-3074).

The two codes are easy to understand. AUTH delegates power to an Invoker to conduct transactions while AUTHCALL calls that prior authorization to conduct subsequent transactions using that authorization.

Incredibly and for the first time in Ethereums history these two codes allow a third-party entity to send or transact Ethereum assets, including NFTs and ERC-20 tokens like USDC, inside your wallet forever. Unless developers modify the EIP before Ethereum hard forks later this year, the delegated powers remain with the Invoker permanently.

Read more: Ethereum Foundation ditches warrant canary

Although further details of the AUTH and AUTHCALL codes are quite technical, a final item of general importance to most crypto participants is EIP-3074s entrusting of unprecedented powers to wallet makers.

Because Ethereum developers realize the expansive and permanent power of AUTH instructions to the Ethereum Virtual Machine (EVM), they have decided to limit the EOAs to which users may delegate their assets. Specifically, they have proposed limiting EOAs to a whitelist maintained by pre-approved wallet providers like MetaMask.

The solution to this blockchain problem? Trusted third-parties.

ChainArgos CEO Jonathan Reiter explained Invokers newfound powers in EIP-3074 even more explicitly, saying, I delegate authority over my account to an Invoker something that can now call code over my assets and that thing now has the ability to do stuff with my assets. And theres no way to revoke that delegation The problem here is, because you cant revoke it, if I delegate to a contract even if I think that contract is okay today if its upgradeable, they can steal my tokens in the future.

Security researchers and auditors have raised similar concerns. Indeed, its not enough for the user to simply ensure that they delegate only to presently trustworthy EOAs. If those EOAs are upgradeable smart contracts, the owner of those EOAs private keys could swap honest code for malicious code in the future.

Worse, even if an EOA is immutable, if that EOA interacts with additional smart contracts and those third-party smart contracts are upgradeable, EIP-3074 could expose users assets to theft via malicious, third-party code upgrades in the future.

Read more: Blast L2 hack prompts debate over centralization of Ethereum rollups

Given all of these risks, what exactly is the point of EIP-3074 in the first place? Mostly, in the opinion of co-author Matt Garnett, the code will save users time and money assuming Invokers stay honest. Consider a first-timers experience using Uniswap. First they must manually sign to authorize Uniswap. Then they need to pay to activate ETH on Uniswap before signing up and paying gas to activate USDC. Then they sign and pay gas to swap ETH for USDC and if more assets are involved, each one must also be activated with a separate signature and gas fee.

In the post-Pectra hard fork world, many of these signatures and gas payments could consolidate. For the user, they would only sign once to AUTH an Invoker with permission to perpetually trade their ETH or USDC on their behalf without subsequent signatures.

In summary, EIP-3074 adds more trust and power with centralized and already quite powerful corporations like MetaMask by Consensys. Unless developers rethink this software change, the upgrade will entice users to entrust perpetual authority with third-party Invokers. These entities may now control users wallets and might, by way of their own or third-party smart contract upgrades, change the rules of the game in the future to simply steal users money.

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.

Original post:

Ethereum's EIP-3074 'upgrade' could let wallet makers steal your money - Protos

Hong Kong is expected to approve Bitcoin and Ethereum exchange-traded funds (ETFs) as early as Monday, according to Bloomberg.

According to sources familiar with the matter, the issuers expected to receive approval for spot-crypto ETFs are an international arm of Chinese asset manager Harvest Fund Management Co. and a collaboration between Bosera Asset Management (International) Co. and HashKey Capital.

These firms intend to launch their respective ETFs by the end of the month, following final approval from the Securities and Futures Commission (SFC) and completion of listing details with Hong Kong Exchanges & Clearing Ltd. (HKEX).

JUST IN: Hong Kong set to approve spot #Bitcoin & Ethereum ETFs by Monday, Bloomberg reports.

Also read: Shiba Inu: AI Forecasts SHIB Price For April 15, 2024

The expected approvals follow reports earlier this week that Harvest was on the verge of receiving permission to launch a spot-Bitcoin ETF in Hong Kong. The SFC had previously granted Harvest and China Asset Management clearance to provide virtual-asset related fund management services on April 9.

The introduction of spot Bitcoin ETFs in the United States on January 11 has contributed to a resurgence in cryptocurrency markets this year.

Also read: Cryptocurrency: Top 3 Ethereum ERC20 Coins To Watch This Week

Hong Kong has been actively working to position itself as a hub for digital asset firms. The city has also implemented a regulatory regime for virtual asset service providers in June 2023.

Thus far, the city has approved platforms operated by HashKey Group and OSL Digital Securities. Prior to the anticipated approval of spot-crypto ETFs, Hong Kong had already permitted the launch of futures-based crypto ETFs. The three products, CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures, collectively hold assets of around $170 million.

The report comes at a time when the industry as a whole is anticipating Bitcoin Halving. With only seven days to go for the halving, Hong Kong is bringing good news to Bitcoin enthusiasts.

Read more here:

Hong Kong To Approve Spot Bitcoin & Ethereum ETFs By Monday - Watcher Guru

Key Takeaways

Bitcoin (BTCUSD) traded flat while spot bitcoin exchange-traded funds (ETFs), which have been driving up bitcoin demand and consequently its price, experienced a rare week of net outflows as the markets geared up for the halving event later this week.

Uniswap Labs received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Monad Labs raised $225 million from Paradigm and others.

Last week, U.S. spot bitcoin ETFs experienced net outflows, a rare occurrence that has only happened three times since these funds were introduced in January.

Between April 8 and April 12, the category, which comprises 11 funds, reported a loss of about $83 million in assets, according to data from BitMEX Research. This represents a significant swing from the previous week's net inflows of $485 million. Despite this setback, spot bitcoin ETFs have amassed $12.5 billion in net positive inflows since they were launched.

Notably, the Grayscale Bitcoin Trust ETF (GBTC) continued to post a decline, with $767 million exiting the fund last week alone. In contrast, other leading funds such as BlackRocks iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) brought in $487 million and $90 million, respectively, but these gains were insufficient to counterbalance the substantial outflows from GBTC.

Demand generated by spot bitcoin ETFs has been credited for the recent rally in bitcoin prices, and it is also considered a key differentiator for the upcoming bitcoin halving versus prior instances.

Decentralized crypto exchange Uniswap last week disclosed receiving a Wells notice from the SEC, indicating impending enforcement actions.

This led to a sharp drop in the price of Uniswap's native token, UNI, falling from above $11 before the news broke to under $8. Uniswap Labs CEO Hayden Adams shared his disappointment and readiness to contest the charges on X. Wells notices serve as preliminary alerts about potential regulatory charges and often precede formal enforcement actions.

The SEC's concerns centered on allegations of Uniswap operating as both an unregistered securities broker and exchange, Uniswap executives Mary-Catherine Lader and Marvin Ammori clarified at a press conference, according to CoinDesk. The specifics of whether UNI itself might be classified as a security weren't clear from the notice. Ammori referenced a favorable recent court decision for Coinbase, which he sees as a positive indicator for Uniswap's defense against similar charges.

Monad Labs has secured $225 million in a funding round led by Paradigm, enabling the company to expand its team and advance the development of its blockchain, which is designed to contend with Ethereum.

This financial backing aims to transition Monad's test version of its blockchain into a full production stage. Its Layer 1 blockchain maintains compatibility with the Ethereum Virtual Machine (EVM). According to Monad's announcement on Substack, the EVM processes more than 96% of all investments in decentralized finance (DeFi).

While Ethereum is currently limited to processing fewer than 20 transactions per second, Monad's newly operational testnet, launched in March, demonstrates a capacity to handle approximately 10,000 transactions per second. This significant increase in transaction throughput is part of a broader trend in the crypto community, which sees various entities, including both Layer 1 and Layer 2 solutions, striving to enhance DeFi's efficiency. Monad's approach incorporates parallel execution to significantly boost performance across the protocol.

This round of funding also attracted investments from several notable firms, including Electric Capital, Castle Island Ventures, Animoca Ventures, Coinbase Ventures, and CoinFund, underscoring broad industry support for Monad's technology.

All eyes are on the anticipated bitcoin halving this week, as the fourth iteration of the scheduled decrease in the cryptocurrency's issuance rate is expected to take place by the end of the month.

Halving, which occurs after every 210,000 blocks, or roughly every four years, cuts the pace of new bitcoin mined and halves miner incentives.

While previous halvings have led to bull runs for bitcoin in the past, multiple industry reports have indicated the spot bitcoin ETF market may have a bigger impact on the cryptocurrency's supply-and-demand dynamics at this point.

Despite the upcoming decline in bitcoin-denominated revenue for miners, it's possible miners could enjoy an increase in revenue in dollar terms due to the potential for a bitcoin price run-up combined with the developments of Ordinals and various Layer 2 networks.

Excerpt from:

Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving - Investopedia