Blockchain & crypto news from India
On the 18th of July, WazirX, the country’s biggest cryptocurrency exchange was hit with a devastating hack that resulted in the theft of more than $235 Million in digital assets. The exchange confirmed the attack in a statement on X, formerly known as Twitter. After the attack, several different market crypto executives have cautioned the investors…
According to recent reports, during the first quarter of 2024, hackers managed to illicitly acquire digital assets totaling a whopping $542.7 million. This figure represents a significant 42% surge in comparison to the corresponding period in 2023, signifying a potential uptick in the activities of cryptocurrency hackers and exploiters. If this trend continues, it is…
Ex crypto tycoon Sam-Bankman Fried has been given a prison sentence of 25 years in the United States Federal prison. He has been accused of embezzling $8 billion from clients of the FTX cryptocurrency exchange he established, which is now insolvent. At a Manhattan court hearing on Thursday, US District Judge Lewis Kaplan issued the…
The latest report from blockchain analysis firm Chainalysis has shed light on the fact that the crypto industry is still grappling with the issue of cybercrimes. According to the report, darknet markets are one of the two categories that have seen an uptick in revenue in 2023. This means that despite the best efforts of…
The cryptocurrency market is shambling due to legal notices sent to some leading crypto exchange platforms by FIU (Financial Intelligence Unit India). According to CoinDCX, within a week of the notice being issued, they have observed an increase of 2,000% in cryptocurrency deposits. On the other hand, Mudrex has recorded deposits worth over $1 million…
Away from the hype and excitement around blockchain and new forms of money, a Foreign Policy article offers a sobering view of the new business world that has sprung around the hype around cryptocurrencies, tokens, DeFi, NFTs and digital assets. It turns out it is the same old finance and market practices that have found…
After cross-bridges (used for transferring crypto from one blockchain network to another), the second favourite target in 2022 were the decentralized finance (DeFi) platforms. Both audited and unaudited Defi services suffered almost equally, with a total of 113 out of 167 major incidents in 2022, a little over 65%. These and other findings were revealed…
“1.7 million people call Celsius their home for crypto”, says the homepage of Celsius Network. It is certainly the case that, just as crypto investors were dreaming of ‘moon’ and ‘lambo’, so were the crypto CEOs whom they trusted to “manage” their money. The latest in the FTX saga is that the US Justice Department…
A Forbes report citing data from blockchain analysis indicates that Defi (decentralized finance) platforms and vulnerable cross-blockchain bridges attracted hacking and crypto robbery attempts this year. Chainalysis data shows that over $3 billion worth of cryptocurrencies were stolen with a total of 125 hacking attempts. Nearly half of these came from just five thefts, and…
According to a statement given by Minister of State for Finance Pankaj Chaudhary in Indian parliament, 12 crypto exchanges in India were involved in GST evasion amounting to Rs 87.60 crore. He reported a recovery of Rs 110.97 with interest and penalties. Another piece of information was about attachments and seizures from crypto crime proceeds…