The cryptocurrency market experienced its most challenging month in 2023, as revealed by a report…
Highlights
- The cryptocurrency market experienced its most challenging month in 2023, as revealed by a report from Web3 outlet DeFi.
- The report attributed the primary cause of the losses in July to “access control issues,” accounting for a significant portion of the funds lost at $364 million.
- There were over 38 reported cases of “rugpulls” resulting in approximately $36 million in losses, and reentrancy attacks led to around $78 million in damages.
- Only $6.15 million, representing a mere 1% of the total stolen amount, was successfully recovered.
- July saw no reports of exit scams, providing a ray of hope amidst the bleak scenario.
Read the original article
Kenyan Government Suspends Activities of Worldcoin in Country