BITCOIN

Blockchain analytics firm Chainalysis says 2022 was “the biggest year ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency businesses. The firm added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers during the year. Crypto Hacking Hit Record High in 2022 Blockchain analytics firm Chainalysis published a section of its upcoming 2023 Crypto Crime Report on Wednesday, stating: 2022 was the biggest year ever for crypto hacking, with $3.8 billion stolen from cryptocurrency businesses. The firm explained that crypto hacking activity significantly increased in March and peaked in October — the month which “became the biggest single month ever for cryptocurrency hacking, as $775.7 million was stolen in 32 separate attacks,” Chainalysis described. The firm added that “82.1% of all cryptocurrency stolen by hackers — a total of $3.1 billion” came from decentralized finance (defi) hacks. Noting that this percent

Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that it has invested in Gopax, a licensed crypto exchange in South Korea. The investment marks Binance’s return to the Korean crypto market, which the company exited two years ago, citing low usage and trading volume. Gopax halted withdrawals of both principal and interest payments from its decentralized finance (defi) service “Gofi” in November last year “as a consequence of the upstream challenges experienced by Genesis Global Capital LLC,” Binance detailed. “Since then, Gopax has been working closely with local regulators and industry partners in an effort to raise funds to make affected users whole.” The glo