GameStop reported a $9.4 million loss on its Bitcoin holdings in Q3, as crypto market volatility weighed on the retailer’s digital asset strategy and raised new questions about its pivot beyond core gaming.
In a shocking breach, the BigONE exchange lost $27 million in a hack, with no private keys exposed. Investigators suggest sophisticated methods were employed, raising concerns over security measures in cryptocurrency platforms and user safety.
In a stark warning to tech investors, a sophisticated phishing scam involving a fake Zoom link has cost GIGA a staggering $6 million. The incident underscores the growing prevalence of cyber threats targeting financial stakeholders in the digital landscape.
Nigeria’s economy suffers a significant blow as it loses $8 billion in foreign exchange subsidies over a three-year period, according to the World Bank report.
As of January 2023, the decentralized finance (DeFi) sector had endured significant losses amounting to $187 million. This downturn was primarily driven by the exploits of malicious actors leveraging vulnerabilities in DeFi protocols. However, the resilience of the industry was evident in the multifaceted recovery efforts that yielded nearly $99 million, partially offsetting the losses incurred. These recovery measures encompass a range of initiatives, including protocol upgrades, proactive measures, and user compensation.