Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron,…
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A new report by blockchain intelligence firm TRM reveals that crypto thefts in the first half of 2024 have doubled compared to 2023, with $1.38 billion stolen by June 24. Major hacks constitute 70% of losses, with private key compromises and smart contract exploits as top attack vectors. Crypto projects are advised to adopt comprehensive…
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Crypto payments gateway solution Transak has teamed up with Privado ID to launch a new “Reusable KYC” service aimed at improving the decentralized identity verification process. This collaboration introduces a novel method that promises to maintain user privacy without compromising on regulatory standards. Transak and Privado ID Team Up to Simplify KYC According to the…
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In a strategic move to bolster its zero-knowledge technology development, Polygon Labs has acquired Toposware, a zero-knowledge (ZK) engineering startup. The deal is aimed at integrating Toposware’s expertise with Polygon’s ongoing projects to advance the entire ZK community. Polygon Labs Targets Zero-Knowledge Tech Leadership With Toposware Buy On Tuesday, Polygon stated in a blog post…
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Professor Massimiliano Sala, a professor of Mathematics at the University of Trento, warns that quantum computing poses significant threats to blockchain security. He highlights that quantum computers could solve problems foundational to digital signatures, compromising user assets on blockchain platforms. To mitigate these risks, Sala emphasizes the need to transition to quantum-resistant cryptographic systems. He…
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A new Ethereum Improvement Proposal, EIP 7702, spearheaded by Vitalik Buterin and fellow collaborators, aims to refine account abstraction on the Ethereum network, enhancing quantum resistance and compatibility with existing standards. EIP 7702 Targets Enhanced Security and Compatibility According to the Github summary, EIP 7702 emerges as a pivotal alternative to the existing EIP-3074, addressing…
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As the prospect of quantum computers breaking today’s cybersecurity standards edges ever closer, Johann Polecsak, co-founder of the QAN blockchain platform, argues that public blockchains such as Bitcoin, Ethereum, and Solana are still ill-equipped to adopt post-quantum cryptography without significant user impact. Post-Quantum Migration Risks Polecsak, an advocate for heightened awareness of imminent quantum attacks,…
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Numerous reports have surfaced, pointing to a potential security breach in Coinex’s hot wallets, suggesting a hacker’s involvement. Peckshield, a blockchain security and data analytics firm, observed a concerning pattern – an unusual outflow of substantial assets originating from addresses affiliated with Coinex. These reports claim that a sum of nearly $28 million vanished from…
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Explore five critical smart contract vulnerabilities that pose risks to blockchain systems. Learn how to spot and neutralize these threats for secure and resilient DApps. Smart contracts, the self-executing code on blockchain platforms, have transformed industries by automating processes and enabling trustless transactions. However, their complexity can also make them susceptible to vulnerabilities that could…
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There are still too many unknowns over how various Telegram trading bots store private keys, blockchain security firms told Cointelegraph. Telegram trading bots, which have been turning the messaging platform into a quasi-crypto marketplace, pose significant security risks for users and require further scrutiny, according to blockchain security firms. While such trading bots have existed…
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