Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

Crypto Hack Losses in June Decline The cryptocurrency realm witnessed a notable decrease in hack losses this June, with the figures tumbling down by an impressive 54 2% from the previous month This translates to approximately $176 million being siphoned off due to nefarious activities, a reduction from a much larger sum of $385 million seen in May The crypto landscape, albeit volatile, seems to have tightened its security loopholes somewhat Despite the significant drop in June, the second quarter of the year saw more than double the losses compared to the second quarter of the previous year, with losses amounting to a staggering $572 million...

The Security Breach: Loss and Recovery In a gripping turn of events, Munchables, a game built on the blockchain and leveraging non-fungible tokens (NFTs), faced a dire situation that would test the resilience and integrity of their platform The game became the victim of an internal compromise when a developer made off with a staggering sum of Ether The incident, which could have spelled financial ruin, took a fortunate turn when the developer returned the pilfered funds This episode was a wake-up call for Munchables, propelling them to overhaul their security strategy to prevent future breaches The platform's response was swift and multifaceted, aimed at tightening security lapses and beefing up safeguards...