Reports | ForkLog

ForkLog 102 01.08.2024

Meta’s Metaverse Losses Surpass $50 Billion

In its second-quarter report, Meta disclosed a $4.48 billion loss for its metaverse division, Reality Labs. The cumulative losses of the division since the end of 2020 are estimated to exceed $50 billion, including: 2020 — over $6 billion; 2021 — $10 billion; 2022 — $13 billion; 2023 — $16 billion. “A few years ago, […]

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ForkLog 26 01.08.2024

Tether’s Net Profit Reaches $5.2 Billion in First Half of 2024

The company behind the USDT stablecoin, Tether, reported a record net profit of $5.2 billion for the period from January to June. According to the report, operating profit amounted to approximately $1.3 billion, primarily from interest income on US Treasury bills. Direct investments in these instruments exceeded $80.9 billion, and including cash and other equivalents, […]

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ForkLog 9 30.07.2024

Crypto Industry Losses to Hackers and Scammers Surpass $1 Billion in 2024

Since the beginning of 2024, cryptocurrency companies have faced 149 incidents of hacks and fraud, resulting in losses exceeding $1.19 billion. This is according to a report by Immunefi, as reported by The Block. In July, hackers obtained $269.4 million through 14 incidents, making it the second most damaging month after May. The majority of […]

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ForkLog 11 29.07.2024

TRM Labs Highlights Dominance of Russian-Speaking Crypto Hackers

Russian-speaking hackers from the CIS countries have become a “ubiquitous force” in international cybercrime related to digital assets, according to a report by TRM Labs. The study indicates that Russian-speaking perpetrators are responsible for at least 69% of ransomware revenues, amounting to over $500 million in 2023. Share of Russian-speaking hackers. Data: TRM Labs. The […]

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ForkLog 13 25.07.2024

VanEck Predicts Bitcoin Could Reach $2.9 Million by 2050

According to VanEck’s “base scenario,” the price of the leading cryptocurrency could reach $2.9 million by 2050, driven by its adoption as a global medium of exchange and reserve currency. We outline the scenarios and assumptions for 7-figure #Bitcoin driven by its role as a global medium of exchange and reserve currency supported by Bitcoin […]

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ForkLog 8 22.07.2024

Benchmark Highlights Bitdeer’s Appeal for Acquisition

Bitcoin miner Bitdeer has emerged as an attractive acquisition target, according to analysts at Benchmark, reports CoinDesk. The financial firm raised the target price for the mining company’s shares from $13 to $16, maintaining a “buy” rating. Bitdeer’s closing price on Friday, July 19, was $10.99. In pre-market trading on June 21, the stock’s valuation […]

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ForkLog 18 22.07.2024

Increased Vulnerability of ZK Protocols Highlighted by Experts

Audits of DeFi projects based on zero-knowledge proof (ZK) technology revealed critical errors twice as often as in general cases, according to The Block, citing a report by Veridise. Experts from the company analyzed 1605 vulnerabilities identified during 100 audits. They found an average of 16 issues per audit, with ZK projects slightly higher at […]

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ForkLog 11 18.07.2024

CoinGecko Experts Highlight Steady Investor Interest in Meme Coins

In Q2, meme tokens emerged as the most popular narrative in the crypto industry. Spot trading volumes on CEX decreased, while they rose on DEX. The market supply of Ethereum increased by 120,000 ETH from April to June. By the end of Q2, meme tokens had become the most popular narrative in the cryptocurrency ecosystem, […]

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ForkLog 29 12.07.2024

Chainalysis Estimates $100 Billion in Laundered Cryptocurrency

Since 2019, crypto platforms have received digital assets worth approximately $100 billion from known illicit wallets, according to a report by Chainalysis. Our Money Laundering report reveals how bad actors now use crypto to launder funds from off-chain crimes — not just crypto-native crimes like ransomware. We explore advanced tracing techniques and how blockchain data […]

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ForkLog 13 04.07.2024

Crypto Startups Attract $3.2 Billion in Q2 Investments

In the second quarter, the crypto industry secured $3.2 billion in venture capital, marking a 28% increase from the previous period’s $2.5 billion. This is according to a report by Galaxy Digital. Source: Galaxy Digital. The number of deals slightly decreased from 603 to 577, a 4% drop, but their median value rose from $3 […]

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ForkLog 34 28.06.2024

Crypto Project Losses from Hacks and Scams Surge to $572 Million in Q2

From April to June, the crypto industry suffered losses of approximately $572.7 million due to hacking and fraud across 72 incidents, according to a report by Immunefi. Losses from scams and hacks in Q2. Source: Immunefi. This figure represents a 70.3% increase compared to $336 million in Q1 and a 112% rise from the same […]

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ForkLog 23 07.06.2024

Elliptic Highlights Rising Use of AI in Crypto Crimes

As with any new technology, the advancement of AI innovations in the crypto industry has spurred their use for criminal purposes, according to a report by Elliptic. Experts from the company identified five main typologies for such criminal activities: the use of generative AI to create deepfakes and promotional materials for scams; execution of fraud […]

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