DeFi attacks are on the rise — Will the industry be able to stem the tide?

The decentralized finance (DeFi) industry has lost over a billion dollars to hackers in the past couple of months, and the situation seems to be spiraling out of control. According to the latest statistics, approximately $1.6 billion in cryptocurrencies was stolen from DeFi platforms in the first quarter of 2022. Furthermore, over 90% of all pilfered crypto is from hacked DeFi protocols. These figures highlight a dire situation that is likely to persist over the long term if ignored. Why hackers prefer DeFi platforms In recent years, hackers have ramped…

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Russia’s Central Bank tries to stem the tide of rubles leaving bank accounts

Beginning investors in Russia will soon find themselves with fewer options to beat plummeting interest rates offered at Russian savings accounts. In addition to the investors themselves, the big losers are likely to be trading apps like Robinhood, which aim at first-timers. Per a Dec. 30 announcement, the Central Bank of Russia is working to get securities trading platforms to toe the line on “risk-reduction” measures first passed in July. In the latest announcement, the CBR recommends securities platforms and applications have systems to “secure the impossibility of executing on-platform…

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African Country Turns to Blockchain to Stem Deadly Fake Drug Epidemic

Uganda, an African country where thousands are dying each year due to counterfeit medicine, wants to put an end to its fake drugs epidemic by utilizing the blockchain. Putting an End to a Deadly Disease Fake drug counterfeiters cause as many as 158,000 people to die in sub-Saharan Africa each year in a $200 billion worldwide market. They produce look-alike medicine that contains little-to-no active ingredients as well as harmful elements, WeeTracker reported. Africa is more exposed to the counterfeit drugs epidemic than other continents as it lacks the technical…

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Blockchain Can Stem Corruption in the Construction Sector

Twitter Facebook LinkedIn The CEO of design software maker Autodesk Andrew Anagnost believes blockchain technology can end corruption and improve trust in the construction industry, the Australian Financial Review reports. Anagnost was speaking at the 2018 Autodesk University conference in Las Vegas when he made the comments while speaking with journalists at a roundtable discussion. California based Autodesk was founded in 1982 as design software for professionals in architecture, construction, engineering, manufacturing, media, and entertainment. Autodesk’s CEO said the construction design software maker had considered the integration of blockchain for its…

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