Headline

Crypto Losses Fall To $452m, Says Report

Published

1 year ago

April 11, 2023

Cryptocurrency losses resulting from hacks and scams fell by $452m in the first quarter of 2023, De.Fi, an antivirus and app provider firm, has disclosed.

In its latest report, titled ‘Report: $452m Lost in Crypto in Q1 2023. New Trends of Hacks and Scams’, the firm stated that this was a 65.23 per cent decline from the $1.3bn recorded in the corresponding period in the prior year.

The report stated that crypto losses mounted to a nine-figure amount in March, for the second in a row. It said $215m was lost in March alone.

The firm noted, “Out of the $452m lost in Q1, a total of $215m was lost in just the first 20 days of March, underscoring the rapid pace at which scammers have been operating in recent weeks.

“While these losses are staggering, they also mark a decrease as compared to the same period in 2022, wherein Q1 saw $1.3bn lost.”

It explained that the biggest losses in Q1 were due to flash loan issues, which had been on the rise in recent months, with over $200m lost through the channel.

The firm, which claimed to maintain the largest database of hacks, scams, and exploits in the crypto verse, stated that the Ethereum chain was where the highest losses were recorded in the quarter.

In terms of recovery, “$130m was recovered in Q1 this year, marking a recovery rate of 28.7 per cent.”

In the corresponding period of 2022, $520m, 40 per cent of funds, was recovered. Scammers leveraged new tokens to lure unsuspecting crypto investors in Q1.

The firm stated, “In terms of attack vectors, tokens proved to be the most popular targets this year so far — this is unsurprising given that tokens are easy to deploy, and prey on the fear of missing out experienced by many new crypto investors.

“This is especially true with the market comeback in recent days. In terms of amounts lost, though, lending and borrowing protocols took the prize, it was driven by a small number of high profile events — Euler Finance and BonqDAO.”

Investors on crypto platforms that lost the most include Euler ($196m), BonqDAO ($120m), CoinDeal ($45m), Monkey Drainer ($16.5m), and Platypus Finance ($8.5m).

De.Fi concluded by noting that the significant surge in financial losses in Q1 underscored the need for heightened risk management and vigilance when investing in the decentralised finance sector on the part of investors.

“It is crucial for investors to educate themselves on potential dangers and implement appropriate measures to protect their investments,” it added.

Crypto scams have been on a rise in recent times as the adoption of crypto continues to grow in many countries. Nigerians are one of the largest users of crypto and are not isolated from these scams.

According to a report by Finder.com, 27 per cent of Nigerian Internet users own cryptocurrency assets.

A recent report by Chainalysis disclosed that 24 per cent of tokens created in 2022 were scams. Most of these scams were created on a pump-and-dump principle, adding that the creators would hype and promote these tokens (crypto assets) to other investors, leading to a price increase as new investors buy.

This would allow the creators to sell their overvalued shares at a profit, eventually leading to a price crash, and leaving new investors stuck with low-value assets, the report stated.

According to Chainalysis, investors spent $4.6bn on this scam last year.

Headline

Pop Star Justin Bieber Sparks Concern After Seen Crying Amid Rumours Of Rift With Wife

Published

22 hours ago

April 28, 2024

Editor

Pop sensation Justin Bieber has stirred concern among fans after posting a series of emotional selfies on Sunday, that has been linked to the rumoured split with his wife.

The 30-year-old singer took to Instagram over the weekend to share multiple photo dumps, offering glimpses into various aspects of his life.

From his surprise appearance at Coachella, where he performed during Tems’ set, to moments of leisure such as playing golf, enjoying the beach, smoking, and trying on different trainers, Justin Bieber’s posts provided a look into his world.

It was, however, one particular set of images that garnered significant attention from fans.

In a close-up series of selfies, Bieber appeared visibly distressed, with tears streaming down his face.

The pop star stared solemnly into the camera, his emotions laid bare for all to see, as a single tear rolled down his cheek.

Despite the intimate portrayal of his emotions, Bieber offered no explanation or caption for his tearful display, leaving fans puzzled and concerned about his well-being.

Justin Bieber’s personal life has come under the spotlight since the recent rumors surrounding his marriage to wife Hailey Bieber (neé Baldwin), 27.

The couple, who tied the knot in 2018, has faced speculation about the state of their relationship on multiple occasions.

Concerns were raised recently when Hailey’s father, Stephen Baldwin, 57, requested “prayers” for the couple, fueling speculation about potential marital troubles.

Headline

400 Bodies Found In Mass Grave In Gaza Hospital

Published

2 days ago

April 28, 2024

Editor

The government in Gaza have concluded their search of mass graves at a hospital in the south of the strip and said they have uncovered a total of 392 bodies, including some still wearing surgical gowns.

Speaking at a Thursday news conference at Rafah, on April 25, an official from the Palestinian Civil Defense in Gaza said workers have identified 165 bodies at the Nasser Medical Complex in Khan Younis, following the withdrawal of Israeli forces from the area earlier this month.

According to Mohammed Al Mighayyer, they are still examining the remaining 227 bodies to determine their identities.

“We found three mass graves, the first in front of the morgue, the second behind the morgue, and the third north of the dialysis building,” he added.

The Israel Defense Forces (IDF) said any suggestion that it had buried Palestinian bodies in mass graves was false, and that a grave at the Nasser complex was dug by Palestinians in Gaza some months ago.

The Gaza Civil Defense acknowledged that around 100 bodies were buried in graves at the Nasser hospital before the IDF operation there.

CNN reports that people had buried the bodies of family members who had been killed on the grounds of the hospital as a temporary measure in January but when they returned after the Israeli military withdrew on April 7, they discovered the bodies had been dug up and then placed in at least one collective grave, not all in the initial spots they were buried in.

The Palestinian Civil Defense also showed graphic images on a TV screen at the news conference showing several almost unrecognizable bodies at the complex and bodies of decomposed children.

Al Mighayyer said the Civil Defense “witnessed the presence of children’s bodies in the mass graves at the Nasser Medical Complex, which proves crimes of genocide.” While the group says it is still examining the bodies, they suspect at least 20 civilians were buried alive in the complex, but it did not explain how it knows this, or offer proof.

Al Mighayyer also claimed there had been cases of executions of patients who had been receiving treatment at the hospital. He said several bodies were found with gunshot wounds to their heads and injuries to their bodies.

Al Mighayyer said at the news conference that the Palestinian Gaza Civil Defense in Gaza “discovered torture marks on [some] bodies.” CNN cannot independently verify these claims.

“Israeli forces buried several bodies in plastic bags at a depth of three meters, which made them decompose quickly.”

“The occupation deliberately concealed evidence of its crimes in the Nasser Complex by changing the plastic shrouds more than once,” he claimed. Video recorded by CNN shows bodies wrapped in three different coloured shrouds: white, black and blue.

Amnesty International has also called for an investigation into the mass graves at the two Gaza hospitals.

I’m response, the Israeli Defense Forces, IDF said:“During the IDF’s operation in the area of Nasser Hospital, in accordance with the effort to locate hostages and missing persons, corpses buried by Palestinians in the area of Nasser Hospital were examined. The examination was conducted in a careful manner and exclusively in places where intelligence indicated the possible presence of hostages.”

The IDF continued: “At the end of February, IDF forces conducted a precise and targeted operation against the terrorist organization Hamas in the Nasser Hospital area. During the operation, about 200 terrorists who were in the hospital were apprehended, medicines intended for Israeli hostages were found undelivered and unused, and a great deal of ammunition was confiscated. The activity was done in a targeted manner and without harming the hospital, the patients and the medical staff.”

Headline

Watch Of Richest Titanic Passenger Sells For £1.17m

Published

2 days ago

April 27, 2024

Editor

A gold watch found on the body of the richest passenger on the Titanic was auctioned in England for £1.17 million ($1.46 million) on Saturday.

It was a record sum for an object linked to the notorious 1912 shipping disaster, said auctioneers Henry Aldridge & Son.

A US buyer won the bidding war, smashing the auctioneer’s pre-sale estimate of between £100,000 and £150,000.

The watch, engraved with the initials JJA, belonged to the US business magnate John Jacob Astor.

Astor was 47 when he died as the Titanic sank in the early hours of April 15, 1912. He was reputed to be one of the richest men in the world at the time.

He died after having helped his wife, Madeleine, on board one of the lifeboats. She survived the disaster.

Astor’s body was found a week after the disaster, with the watch among his personal belongings.

“The watch itself was completely restored after being returned to Colonel Astor’s family and worn by his son,” said a statement from the auction house.