Ethereum price is up today as network revenue skyrockets and ETH clears the $2,300 resistance.
Blockchain and cryptocurrency security is essential. After all, an autonomous monetary system can only go so far if it can be easily exploited by hackers, rendered inoperable through a mere software bug, or shut down by the powers that be.
Bitcoin’s unique security model is possible through a clever alignment of incentives between the network’s stakeholders — miners, developers, merchants and users. Any attempt to capture the network or reorganize the chain would result in the value of the currency plummeting and thus render any intended benefit completely worthless. The cost of being a bad actor significantly outweighs any possible reward.
Thus, it is in every participant’s best interest to simply play by the rules and collectively work toward the maturation and adoption of the Bitcoin (BTC) ecosystem.
Since its launch in January 2009, the Bitcoin network has never been compromised at the base layer and has had virtually 0% downtime, making it one of the most secure computer systems on the planet.
Cryptocurrency wallets, applications and exchanges that build products and services atop Bitcoin and other crypto networks, however, have frequently been the target of hacks and scams, highlighting the ongoing need to establish best practices around cybersecurity and operational security.
The SEC initially misled a court to freeze Debt Box’s assets, which has since been reversed, with the firm citing the incident as grounds to dismiss the suit.4629
“Spicy” AI chatbot Grok hasn’t been seen by the public yet, but it’ll be worth plenty after this securities issue.29745
The bill complements one already on the governor’s desk that regulates digital assets owned by individuals.7715
A security vulnerability potentially affecting hundreds of smart contracts that were pre-built using a commonly used open-source library has been reported by Web3 firm Thirdweb.21110
- KyberSwap hacker wants control, law firm says Aussie DeFi tax rules ‘non-binding’: Finance Redefined
Law firm Cadena Legal said that the guidance released by the Australian Taxation Office is “non-binding” and must be treated as “toilet paper.”4595
The Poloniex and HTX/Heco Bridge exploits as well as the KyberSwap flash loan attack were the three largest incidents in November, according to blockchain security firm CertiK.11355
Charles Hoskinson took a jab at the perceived inconsistency in applying decentralization standards by the U.S. SEC.2861
This Web3 security protocol halted on-chain transactions to recover $800,000 in Vulcan Forged user funds after a Web3 gaming platform suffered a security breach.19704
This Ethereum layer-2 platform pioneered a novel approach to a critical component of blockchain transactions, effectively mitigating vulnerabilities associated with centralized structures.11778
CertiK co-founder Ronghui Gu told Cointelegraph that it’s “inexcusable” the industry faces continued SIM-swap and multisig failures, as previous incidents already highlighted the issues.1337
The guidelines suggest cybersecurity practices AI firms should implement when designing, developing, launching and monitoring AI models.4058
Antoine Riard, who left the Lightning Network in October, argues it is also at risk of becoming increasingly centralized and susceptible to single points of failure and censorship risks.11195
- KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined
Australia’s tax regulator did not clarify whether investors must pay taxes on liquid staking or transfer to layer-2 bridges.4029
By exploiting a bug, the attacker caused liquidity to be “double-counted,” allowing them to get an unfair price for a swap.5181