Features Today TheBitTimes.com

The crypto currency market liquidated over $345 million from trading positions in the last 24 hours. Surprisingly, $100 million were from “other” crypto currencies outside of the top 50 by market cap. Finbold retrieved this information from CoinGlass on June 8, following a massive crash that speculators believe happened after macroeconomic data. In particular, long-position traders exposed to “other” cryptocurrencies had the vast majority of losses, with $103.82 million in liquidations. Short-sellers of these low-cap coins lost only $6.09 million, totaling $109.91 million lost capital in 24 hours. Picks for you 2 cryptocurrencies to reach $25 billion market cap in the second half of the year 1 hour ago Crypto in...

December 2023 has experienced significant losses in cryptocurrency thefts, with the latest attack on Orbit Chain’s cross-chain bridge pushing the month’s total losses close to $100 million, according to blockchain security firms. Blockchain security firm PeckShield reported on Jan. 1 that the $81.5 million exploit of the Orbit Bridge was a major contributor to December being the fifth-highest month for crypto hacks in 2023. #PeckShieldAlert Hackers stole ~$99.3 million across over 36 attacks in December. The Cross-chain #OrbitBridge suffered an $81.5 million exploit on New Year’s Eve, marking it as the 9th top hack targeting a cross-chain bridge in the last 3 years pic.twitter.com/6oGqu7gjLo — PeckShieldAlert (@PeckShieldAlert) January 1, 2024 The exploit was also the ninth-highest hack targeting a cross-chain bridge over the past three years, it said. Orbit Bridge, the bridging service of the cross-chain protocol Orbit Chain protocol launched in South Korea in...

Cross- chain protocol Orbit Bridge has suffered a hacker attack, resulting in a loss of more than $80 million in multiple cryptocurrencies. In a public X statement, the Orbit Chain team confirmed the incident, saying the root cause of the issue is being carried out with Theori, a web3 auditing firm. The team noted it is “actively engaging with international law enforcement agencies,” without going into detail. Urgent Dear Orbit Bridge Users, An unidentified access to Orbit Bridge, a decentralized Cross- chain protocol , was confirmed on Dec-31-2023 08:52:47 PM +UTC. Further information regarding the issue will be updated. — Orbit Chain (@Orbit_Chain) January 1, 2024 The hack was first spotted by X user @KGJRTG, who revealed that the attacker drained millions of dollars worth of crypto such as Ethereum (ETH), USD Coin (USDC), Tether (USDT) and Wrapped Bitcoin (WBTC) from the cross-chain bridge. You might also like: Pink Drainer hackers stole $4.4m in Li...

Improbable, a London-based metaverse company, has shifted its focus from virtual experiences for video games and defense to becoming a “venture builder” after cutting losses by 85%. In a press release on Tuesday, Sep. 26, the firm said it would focus on the “metaversal experiences” development and venture building, supported by an experimentation arm, Improbable Labs.  In 2022, Improbable reduced its losses by 85%, from £131 million (~$159 million) to £19 million (~$23 million). Over the past year, the company grew its revenue by 2.6x to £78 million (~$95 million). “The focus is now on industrializing what we are doing by being involved in more events with more people where there is scope to drive and monetize engagement levels.” Dan Odell, Improbable CFO You might also like: Metaverse poses ‘unprecedented’ privacy threats, report says 2022 was a challenging year for Improbable as the British firm reportedly reduced its he...