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According to the report, nearly half of the month’s losses were caused by the Multichain exploit which resulted in $231 million in losses alone. The cryptocurrency market is having its worst month of 2023, according to a report from Web3 outlet De.Fi shared with Cointelegraph. Losses for July totaled $486 million, more than six times the total from 2022: Source: Document shared with Cointelegraph, via De.Fi The report comes on the heels of several high profile hacks and exploits in the month of July and a flurry of legistlative activity surrounding the nature of cryptocurrency and digital assets. With a current reported recovery total of only $6.15 million, nearly 99% of all cryptocurrency and digital assets stolen in the month of July remain unrecovered. According to a document shared with Cointelegraph, the researchers at De.Fi believe not enough is being done to recover lost funds quickly: “Regrettably, the recovery efforts in July 2023 were woefully inadequate, with only $6,796,

Five tokens stand out as the biggest losers among the top 100 assets, facing significant challenges in recent times. As July comes to a close, the crypto market has witnessed notable fluctuations, with some assets experiencing a downward spiral in their 30-day performance. Top 5 losers of July | Source: CoinMarketCap Fantom (FTM) Fantom (FTM) took a heavy hit. Its price plummeted by a staggering 22.22% in the last 30 days. Fantom’s woes began mid-July when it forfeited the $0.31 price territory to the bears after reclaiming it in an impressive 24-hour rally. Currently trading at $0.2409, Fantom has struggled to maintain a stable trajectory as its 24-hour and 7-day percentages are also negative. Over the past week, it has experienced a 5.12% decline , recording a 1.61% drop in the last 24 hours. Rocket Pool (RPL) Rocket Pool (RPL) faced a similar fate, witnessing a 30-day decline of 22.10%. Priced at $29.21, Rocket Pool’s performance suffered across all recorded timeframes. I

BALD’s Connection with Coinbase A market analyst with the user name @matrixthesun highlighted on Twitter that the BALD Memecoin has achieved an astounding 100X return in just a few hours. What sets this particular Memecoin apart is its unique compatibility with BASE, a new blockchain developed by Coin Base crypto exchange. advertisement BASE has been on Optimism , a layer 2 scaling solution for Ethereum. Optimism aims to tackle Ethereum’s scalability challenges by processing transactions off-chain, improving efficiency, and reducing transaction fees. Amidst the frenzy surrounding BALD memecoin, rumors have emerged linking the BALD to the CEO of Coinbase, Brian Armstrong. The analyst noted a pattern pointing towards connections with a large supply of $cbETH, Coinbase’s variant of staked Ethereum (ETH). The relationship raises questions, prompting some to wonder about the involvement of a Coinbase insider or the company’s CEO. While the identity of this whal

Currently, XRP is trading between its intraday low of $0.7045 and intraday high of $0.7271. Although it may seem too early to determine, XRP could be forming a double-top pattern. XRP shows buying opportunities at various levels for long-term traders. XRP has taken advantage of its recent victory by experiencing a massive price spike. Although it could be triggered by the buyer’s entry into the market, XRP climbed up the ranks among the top cryptocurrencies based on MarketCap, according to CoinMarketCap. Currently, the altcoin is trading between its intraday low of $0.7045 and intraday high of $0.7271. However, it seems closer to the intraday low level as it is priced at $0.7114. XRP/USDT 1-Day Chart (Source: TradingView) Moreover, the candlesticks seem to be forming a double-top pattern. However, it is too early to determine this as only the first peak has been formed. If the candlesticks are forming a double-top, there may be a chance that the XRP woul

Shiba Inu (SHIB) has been on a downward trend since February 2023. The popular dog-themed crypto has struggled to cross the $0.000008 resistance level despite the collective market recovery. However, the project’s lackluster performance has not stopped investors from working towards removing a few decimal zeros from the asset’s price. If Shiba Inu (SHIB) deletes two zeros from its current price, it would mean a growth of 9900%. If an investor was to purchase $1000 worth of SHIB at current prices, they would get about 128205128 tokens. Given that SHIB rallies by 9900%, the same investment would be worth around $100,000. Also Read: With $1,000, How Much Money Can You Make If Shiba Inu Reclaims Its ATH? How many tokens are needed to be a millionaire if Shiba Inu deletes two zeros? Source: Freepik.com If SHIB removes two zeros from its price, $1 million would equate to about 1282051282 tokens. The price of these tokens right now is about $10,000. Therefore, an investor with jus

Join Our Telegram channel to stay up to date on breaking news coverage The U.S. Department of Justice (DoJ) called for the detention of FTX founder Sam Bankman-Fried until his criminal trial, citing alleged attempts to tamper with witnesses. Bankman-Fried appeared in a federal court with his legal team on Wednesday, where the DoJ said he shared documents with the New York Times to undermine the credibility of star witness Caroline Ellison, the former CEO of FTX affiliate Alameda Research. OK – now at US v. Bankman-Fried, hearing on US request to remand SBF to jail after leak of Caroline Ellison's Google docs to NYT – and about sealed list of secret visitors? Inner City Press has asked to unseal that, and will live tweet, thread below pic.twitter.com/2RGMWagZuQ — Inner City Press (@innercitypress) July 26, 2023 “It is the government’s view that no set of release conditions can secure the safety of the community,” said Assistant U.S. Attorney, Danielle Sassoon. “I t appe

Arkham announced a new platform feature on their Twitter page yesterday. Users are now able to claim their unique usernames on the platform, which will be used for all upcoming features. At press time, ARKM was trading at $0.5379 following a 5+% gain in the past 24 hours. Arkham (ARKM) revealed a new feature on Twitter yesterday. In the post, the project shared that users are now able to claim their unique username on the platform, which will be used to interact with a variety of upcoming Features . Arkham is pleased to announce our latest feature: Users can now claim their username on the platform. Usernames are unique to you and will be used for a variety of Features to be announced. You still keep a display name, but you can only claim username once, choose wisely! pic.twitter.com/rGmBGsAHYl — Arkham (@ArkhamIntel) July 26, 2023 At press time, CoinMarketCap indicated that the altcoin achieved a 24-hour gain of more than 5%. As a result, ARKM was ch

Join Our Telegram channel to stay up to date on breaking news coverage Namibia takes a significant step towards regulating crypto trading by introducing the VASP regulating law into the Gazelle of the Republic of Namibia. The Namibia Virtual Assets Act 2023 aims to regulate crypto-related activities by creating an authority to oversee cryptocurrency exchanges in the country. Namibia’s President Hage Geingob signed the crypto regulation bill on July 14, after its introduction on July 6th. The bill’s entry into the gazette signifies the regulation of the crypto market in Namibia, while the Finance Ministry will decide the effective date. Tackling Money Laundering and Protecting Consumers is the Top Concern Gazette Number 8143 incorporates the entire Virtual Assets Act 2023 into Namibian Law, aiming to safeguard customers, mitigate money laundering and financial terrorism risks, and regulate cryptocurrencies in the country. As per the law, regulatory authority will issue lice

The intersection of ZK proofs and multichain bridges has become one of the industry's more intriguing development. Zero -knowledge (ZK) proofs, or cryptographic methods that allow one party to prove to another party that something is true without revealing any sensitive underlying private information, have been a hot topic of discussion among crypto veterans. At last week's zkDay event as part of EthCC Paris, over 2,000 attendees arrived at a small venue by Rue l'Aubrac to catch a glimpse of the latest ZK projects on display. P0x Labs, the developer behind ZK protocol Manta Network, even announced a $25 million raise during the event.  Currently, the technology has played a critical role in powering layer-2 solutions. By computing a simple cryptographic proof on layer-2, transactions can be finalized nearly instantly while the record is simply sent back to the underlying blockchain as a succinct proof. At the same time, ZK proofs can enable private transactions that do n

Dogecoin [DOGE] has consistently maintained its status as one of the most well-known meme cryptocurrencies. With regular endorsements from Musk, the altcoin has enjoyed positive price actions. Similarly, with the rebranding of Twitter, DOGE recorded another price surge. While the rest of the crypto currency market was under correction, DOGE was trading at $0.077590 with a 4.6% daily surge. It should be noted that the asset went from a low of $0.073486 all the way to a high of $0.078001, earlier today. Source – DOGE/USDT Chart on TradingView Dogecoin ’s recent surge is undoubtedly bullish, but short traders held a different perspective. Coinglass data indicated that DOGE experienced the highest short liquidations, amounting to $3.81 million, within the last 24 hours. In addition, the total liquidations that occurred during this period stood at $6.96 million. Furthermore, futures traders incurred losses of almost $10 million while placing bets on both bullish and bearish price moveme

A legal expert who brought a liquidation application against a multilevel marketing firm responsible for soliciting ​​29,421 bitcoin ($1.7 billion) from US customers has been identified in a video where he’s seen physically and verbally abusing a domestic worker from South Africa .  Vaughn Victor can be seen abusing the now 63-year-old Antjie Bochedi on a farm in Hennenman. The video was filmed while Victor was questioning her about the murder of 56-year-old Pieter Hills and his 26-year-old son Eddie on November 2020. According to The Citizen, Victor was acting as a family spokesperson following the murders on the farm. The incident was filmed by behavioral specialist Wendy Nickland who joined Victor in the interview to help determine if any of the farm staff were lying. Despite the apparent incident, Bochedi has refused to press any charges against Victor . According to reporters who reached out to Victor, he said the re-circulating video “is part of a campaign by Mr. Louis Lie

Musk said in a recent interview that if done right X has the potential to become half of the global financial system. The popular social media platform Twitter officially re brand ed to X after months of teasing by CEO Elon Musk. The re brand ing saw the popular social media app ditch its recognisable bird logo after two decades and replaced it with “ X” after two decades. The re brand ing also saw the social media app change its colour scheme from blue to black. As part of the rebranding, Twitter’s URL has also been changed to “x.com.” a domain name linked to Musk’s 1999-founded financial services startup that sold to PayPal is now redirecting to Twitter. https://t.co/bOUOek5Cvy now points to https://t.co/AYBszklpkE. Interim X logo goes live later today. — Elon Musk (@elonmusk) July 23, 2023 X.com was an early online bank and the company was initially funded by Elon Musk and Greg Kouri, who went on to fund Musk's later ventures: Tesla and SpaceX. Musk’s association with the b