June 27 Highlights in the Crypto Space

• Immunefi Report:

  Immunefi, the on-chain crowd-sourced security platform, released its “Crypto Losses in Q2 2024 report,” revealing a $572 million loss to hacks and rug pulls in Q2 2024. This marks a 112% increase compared to the same period in 2023. CeFi was the main target of successful exploits at 70%, with DeFi accounting for 30% of the total losses in Q2.

• REDACTED Funding:

  REDACTED, focusing on building an ecosystem for entertainment data, secured $10 million in funding from investors such as Spartan Group, Saison Capital, and others. The company’s data protocol aims to enhance entertainment and gamification products for more personalized experiences.

• Rebar Labs Seed Funding:

  Rebar Labs raised $2.9 million in seed funding to develop “MEV-aware infrastructure” for Bitcoin. The company aims to address MEV challenges in Bitcoin’s ecosystem, ensuring fair value distribution and improving user experiences.

• SSV Network Incentivized Mainnet Program:

  SSV Network extended its incentivized mainnet program through December 2024. The revised program offers tiered rewards to validators to maximize engagement and participation in the network.

• Cobo Launches Cobo Portal:

  Cobo introduced Cobo Portal, a platform for businesses to manage digital assets seamlessly. The platform features an All-in-One Wallet platform with advanced risk control and a seamless development environment.

• DFINITY Foundation’s UTOPIA:

  DFINITY Foundation launched UTOPIA, focusing on providing on-chain serverless clouds for sensitive sectors like defense. The technology aims to enhance security and operational resilience in high-risk industries.

• Wanchain Token Bridge to Polkadot Relay Chain:

  Wanchain unveiled a token bridge connecting the Polkadot Relay Chain and the Cardano blockchain network, enabling interoperability between the two networks. This bridge marks a significant step towards cross-chain communication beyond EVM networks.

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