Elon Musks xAI Colossus goes online and it really is colossal

Elon Musks xAI has launched Colossus now the most powerful AI training system setting a new benchmark in the AI race with a 100,000 H100 training cluster that will soon double in size.

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Crypto hacks surge to $2.1B in 2024, CeFi hit hardest Cyvers

Threats like AI-driven attacks and quantum computing vulnerabilities need to be addressed with real-time monitoring and solid regulation.

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Despite WazirX, Q3 crypto hack and scam losses fell to $413m YOY

Losses from scams and hacks in Q3 declined by 40% compared to the previous year, but CEX hacks still pose a problem for the industry.

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Crypto community slams WazirXs 'socialized losses' plan after hack

As WazirX navigates this crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.

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Crypto community slams WazirXs socialized losses plan after hack

As WazirX navigates a crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.

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[Open to Pinoys] List of Current Active Solana Hackathons

Major Solana blockchain hackathons are now open for registration, all of them with significant prize pools and opportunities.

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Realized losses minimal despite 80% of STH supply being underwater

Tracking the percentage of STH supply in loss is crucial for understanding market sentiment and potential price movements. A high percentage of Bitcoin supply in loss indicates that a significant portion of recent buyers are holding positions at a loss, which can be a precursor to increased sell pressure if these holders decide to cut […]

The post Realized losses minimal despite 80% of STH supply being underwater appeared first on CryptoSlate.

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Bitcoin Holders Now Doing Loss-Taking: Sign That A Turnaround Is Near?

On-chain data shows that Bitcoin investors have ended their net profit-taking spree recently, a potential sign that a price reversal could occur soon. Bitcoin Daily Realized Profit Loss Ratio Has Dipped Below 1 Recently As explained by CryptoQuant author Axel Adler Jr in a new post on X, realized losses have started to exceed profits [...]

The post Bitcoin Holders Now Doing Loss-Taking: Sign That A Turnaround Is Near? appeared first on Crypto Breaking News.

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Multichain Foundation to pay $2.1M to Fantom for losses

The High Court of Singapore ordered Multichain to compensate the Fantom Foundation after a $210 million hack, awarding $2.18 million in damages.

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Crypto losses reach $1.19B in H1 2024: CertiK calls for better security

The CertiK report shows that phishing attacks led to nearly $498 million in losses, emphasizing the urgent need for enhanced security measures like 2FA.

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WazirX launches fund recovery plan post $230M hack

Drawing lessons from past incidents such as the Mt. Gox and Bitfinex hacks, WazirX aims to apply the best practices from these cases to ensure a fair and efficient resolution.

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The rise and fall of celeb tokens: Over 99% of value wiped out

Celebrity-endorsed tokens on Solana (SOL) have crashed dramatically, leaving investors reeling from massive losses.

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Paraguay miners urge state electricity board to reconsider upcoming price hike

Capamad spokesperson Jimmy Kim claims that the electricity price increase set for Aug. 1 may force 70% of legal crypto miners out of business.

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Dough Finance loses $1.8M in flash loan attack

The attacker exploited unvalidated call data, resulting in 608 ETH being stolen.

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Bitcoin Crash Forced Weak Hands Into Largest Loss-Taking Since 2022 Lows: Report

A new report from Glassnode has revealed that the Bitcoin short-term holders took part in the largest loss-taking event since 2022 in the recent crash. Bitcoin Short-Term Holders Have Realized Huge Losses Recently According to the latest weekly report from Glassnode, less than 1% of trading days in the cryptocurrency’s history have seen the short-term holders taking higher losses than during the latest event. The “short-term holders” (STHs) here refer to the Bitcoin investors who bought their coins within the past 155 days. This cohort makes up one of the two main market divisions based on holding time, with the other group being called the “long-term holders” (LTHs). Statistically, the longer an investor holds onto their coins, the less likely they become to sell them at any point. As such, the LTHs reflect the stubborn side of the market, which can weather through crashes and rallies, while the STHs include the weak hands that easily react to FUD or FOMO. Related Reading: Chainlink Traders Capitulate After 10% Plunge: Bottom Here? Given this fact, it’s not unexpected that this latter cohort has again shown a strong reaction to the recent volatility in the Bitcoin price. And since it’s been a crash, the STHs have been panic selling at a loss. The below chart shows the trend in the Bitcoin Realized Loss specifically for the STHs over the past few years: The Realized Loss here is an indicator that keeps track of the total loss the STHs realize through their selling. Also, note that the metric is “entity-adjusted,” meaning that the metric includes the data for entities instead of addresses. An entity refers to a cluster of addresses that Glassnode has determined to belong to the same investor through its analysis. Transactions made between the wallets of the same investor would naturally not correspond to any real “loss-taking,” so excluding them from the data makes sense. As is visible in the graph, the Bitcoin STH Realized Loss registered a spike during the latest market downturn, implying that these investors made large transactions at a loss. At the height of this capitulation event, the indicator’s value hit $595 million, the largest loss-taking the cohort has shown since the FTX collapse that led to the bottom of the 2022 bear market. Related Reading: Bitcoin Now Forming Pattern That Last Led To It Blasting Off “Furthermore, only 52 out of 5655 trading days (< 1%) have recorded a larger daily loss value, highlighting the severity of this correction in dollar terms,” reads the report. From the chart, it would appear that large spikes in the metric have come around at least local bottoms in the price, so this loss-taking event may have also formed another bottom for Bitcoin. BTC Price At the time of writing, Bitcoin is trading at around $58,800, up 3% over the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com

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Compound Finance site potentially breached ZachXBT

Crypto investigator ZachXBT has warned users to avoid the Compound Finance website, which appears to have been hijacked and may be redirecting visitors to a phishing site.

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Chainlink Traders Capitulate After 10% Plunge: Bottom Here?

On-chain data shows that Chainlink investors have been realizing significant losses recently, a sign that the price plunge has put fear into their minds. Chainlink FUD Could Lead Towards Bottom Formation According to data from the on-chain analytics firm Santiment, LINK investors have just shown their largest capitulation event of the year. The indicator of relevance here is the “Network Realized Profit/Loss,” which keeps track of the net amount of profit or loss that Chainlink traders are realizing right now. The metric works by going through the blockchain history of each coin sold to see what price it was moved at before this. If this previous price for any coin was less than the spot price it’s being transferred at now, then the coin’s sale is realizing some profit. Related Reading: Bitcoin Now Forming Pattern That Last Led To It Blasting Off Similarly, transactions of coins of the opposite type would lead to loss realization instead. The indicator adds up these profits and losses for the entire network and then calculates their difference to find the net situation. When the value of the Network Realized Profit/Loss is positive, it means the investors as a whole are realizing profits. On the other hand, the negative metric suggests that loss-taking is the dominant form of selling in the market. Now, here is a chart that shows the trend in the Chainlink Network Realized Profit/Loss over the past few months: As is visible in the above graph, the Chainlink Network Realized Profit/Loss has seen a negative spike recently, suggesting that LINK investors have realized some large losses. This significant loss-taking spree from the LINK traders has come as the cryptocurrency’s price has gone through a significant drawdown over the past few weeks. The coin is down almost 10% in the last seven days alone. Given this timing, it would appear that these investors have been scared by the bearish price action so much that they have decided to exit the market at a loss. In the same chart, the analytics firm has also attached the data for another metric, the Age Consumed, which keeps track of whether dormant coins are moving. Related Reading: Solana Mirroring 2021 Bullish Pattern, Crypto Analyst Reveals It would seem like this indicator also spiked alongside the loss-taking from the investors, implying that even some holders previously sitting tight have been shaken out by the price plunge. This FUD in the market can benefit Chainlink, as historically, the asset has been more likely to bottom out when fear is ripe among the investors. As Santiment highlighted in the graph, a red spike in the indicator also proved bullish for LINK in April. LINK Price Chainlink is trading around $12.8 when writing, down around 3% over the last 24 hours. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Crypto hacks down by 54.2% in June, $176M lost in a month

May was the biggest month in terms of crypto losses in 2024 so far, with nearly $385 million in net losses suffered from crypto hacks.

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Developer posts secret key on GitHub, loses $40K in 2 minutes

Developer Brian Guan claimed that the funds were drained in just two minutes, sparking mixed reactions within the crypto community.

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Investor shares story of falling victim to $100K crypto hack

I thought that my heart would stop, said Matthias Mende, who told Cointelegraph how he felt when he realized he lost $100,000 in crypto assets to a hacker.

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