Tech
Protocol Village: Cryptocurrency Losses Due to Hack Attacks and Carpet Thefts Double to $572 Million in Q2: Immunefi Report
June 27: Immunea crowdsourced on-chain security platform, released its “Crypto Losses in Q2 2024” report, showing a loss of $572 million due to hacks and rug pulls in Q2 2024, an increase of 112% compared to the same period in 2023. According to the team: “This brings total losses to over $920 million year-to-date, with May 2024 seeing the highest monthly losses of $358 million. CeFi was the top target of successful exploits with 70%, compared to DeFi with 30% of total losses in the second quarter.”
REDACTED, building Web3 “Entertainment Datasphere,” raises $10 million
June 27: DRAWN UPbuilding a product ecosystem to form an “entertainment datasphere,” raised $10 million in funding, co-led by Spartan Group with Saison Capital, Animoca Brands, Polygon Ventures Web3 founders, VCs, angel investors and whales as Dingaling and Grail, according to the squad: “REDACTED’s data protocol improves entertainment and gamification products, delivering better, more targeted experiences.”
Rebar Labs Raises $2.9 Million to Build “MEV-Compatible Infrastructure” for Bitcoin
June 27: Armor workshopsbuilding “MEV-aware infrastructure, products, and research” for Bitcoin, has raised $2.9 million in seed funding, according to the team: “Led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital, and UTXO Management, the firm aims to address MEV challenges in the growing Bitcoin ecosystem. As new protocols emerge such as BRC-20, Runes, L2, and rollups, MEV strategies similar to early Ethereum DeFi are appearing on Bitcoin. Rebar Labs is developing solutions to ensure fair value distribution, efficient markets, and improve the user and miner experience in the Bitcoin ecosystem.”
Validation infrastructure provider SSV extends incentivized Mainnet program through December
June 27: Validation infrastructure provider SSV network revised its incentivized mainnet program (IMP) following the successful decentralized governance vote, according to the team: “Key updates include extending the program to December 2024, restructuring reward tiers, and excluding SAFE multisig wallets from eligibility. The new tiered rewards system offers significant APR boosts to early validators, improving incentives for participation. The revisions aim to maximize rewards, encourage validator engagement and address previous limitations of the program.”
Cobo Launches “Portal” for Businesses, Featuring an “All-in-One Wallet Platform”
June 27: Cobo, a cryptocurrency custody and wallet infrastructure provider, launched “Cobo Portal, a unique platform that simplifies the process for businesses to build on highly scalable wallet infrastructure and manage their digital assets seamlessly,” according to the team. Features include: “1. All-in-one wallet platform with custodial wallets, MPC wallets, Smart Contract wallets, Exchange wallets. 2. Advanced risk control: customizable user roles, on-chain and off-chain transaction policies, governance, approval workflows. 3. Seamless development environment: Documentation and support in all popular programming languages, blockchain developers can quickly integrate Cobo’s WaaS (API and SDK).
Dfinity Foundation launches ‘UTOPIA’ for ‘sensitive sectors’ like defense with ‘on-chain serverless cloud’
June 27: DFINITY Foundationa major contributor to the Internet Computer Protocol (ICP) while also working on decentralized artificial intelligence, announced the launch of “UTOPIA, aimed at addressing the $10 trillion global cybersecurity problem, through on-chain serverless cloud that offer unprecedented operational resilience and security,” according to the team: “This technology is critical for sensitive and high-risk sectors such as defense, utilities and financial services, ensuring unbreakable security and 100% digital sovereignty.”
Cardano-Focused Interoperability Project Wanchain Launches Token Bridge for Polkadot Relay Chain
June 27: WanchainA Level 1 proof-of-stake blockchain focused on interoperability, it launched a token bridge between the Polkadot Relay Chain and the Cardano blockchain network, according to the team: “Despite the hype about the need for a bridge that circulates in both communities, Wanchain is the first to successfully connect Polkadot and Cardano, accessible from the Wanchain Bridge web portal. Temujin Louie, CEO of Wanchain, said: “Wanchain believes in need for interoperability between all networks, not just EVMs. We expect this initial implementation will lead to further developments, such as cross-chain function calls between two non-EVM networks.'” (ADA) (POINT)
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