Forget Web2 Woes Traditional Web2 Security Issues Caused 46.5% Loss in Web3 Fund; Blockchain Gaming Surpasses $1.5 Billion Investment in 2023!

The State of Crypto Traditional Web2 Security Issues Lead to 46.5% Fund Loss in Web3, $1.5 Billion Invested in Blockchain Gaming by 2023

Get ready for your daily dose of crypto and blockchain-related news that will leave you laughing (and investing, of course). We’ve sifted through the headlines to bring you the juiciest stories happening under the radar. So, grab your digital assets and let’s dive in!

Losing billions: How hackers are having a field day with poor infrastructure

In 2022, hackers had a ball with Web3 infrastructure, leading to a staggering $1.7 billion in losses. It turns out that developers and researchers were too busy perfecting smart contract protocols, while infrastructure vulnerabilities went unnoticed. These sneaky hackers exploited poor private key handling and ran away with the loot. Interestingly, 11 out of 13 CeFi exploits were due to infrastructural weaknesses. Talk about building a castle with a cardboard moat! The lesson here is clear: We need to pay attention to the foundation if we want to keep our digital mansions secure.

Gaming the system: A surge in investments and new gold mines

• The NHL Joins the Digital Collectibles Bandwagon, Better Late than Never!
• Disney enters the NFT market and collaborates with Dapper Labs to launch the digital badge collection platform Pinnacle.
• From Mutant Ape Copycat NFTs to Courtroom Drama Mastermind behind $3M Fraud Scheme Pleads Guilty

Did you know that the Web3 gaming sector has been booming? In 2023, it reached pre-bull market levels, attracting a whopping $19 billion in investments since 2018. It seems like everyone wants a piece of the gaming action. But here’s the twist: more than 81 blockchains targeted the gaming industry in 2021 alone. That’s like trying to fit an elephant through a revolving door! And speaking of doors, Web3 games have been migrating like crazy this year. Polygon, Immutable, and Arbitrum are leading the pack, making other networks look like they’re stuck in the Matrix. So, buckle up and get ready for the ultimate digital gaming adventure!

Leap into the future: Singapore embraces crypto payments with open arms

Leap Pay and Pundi X are team players with a mission to bring crypto payments to merchants in Singapore. These two powerhouses are joining forces to bridge the gap between the traditional shopping experience and the exciting world of cryptocurrencies. By combining regulatory expertise and blockchain technology, they’re paving the way for businesses to tap into the benefits of digital currencies effortlessly. Soon, we’ll be swiping our crypto cards like magicians pulling rabbits out of hats. Abracadabra, crypto payments have arrived!

Bond, crypto bond: Bitfinex makes history with tokenized excitement

Bitfinex Securities, a subsidiary of the renowned Bitfinex cryptocurrency exchange, is shaking things up in the financial world. They’ve introduced ALT2611—a 36-month, 10% coupon bond, and it’s not your average run-of-the-mill bond. Oh no, this bond is denominated in none other than everyone’s favorite stablecoin, Tether (USDT). Hold on tight because the future of bonds just got digital! And where is it issued, you ask? On the Liquid Network sidechain! This is like watching a lion balance a flaming hoop on its nose. Unbelievable, but oh-so-impressive!

Agro-revolution: Tokenizing agricultural commodities on Polkadot

Move over, Wall Street. Agrotoken is jumping into action with its global tokenization infrastructure for agricultural commodities. Picture this: stablecoins backed by real grains and food. Farmers, businesses, and financial institutions can now transact via Agrotoken’s digital platform and tap into the world of modern finance. With a whopping $105 million worth of grains tokenized so far, Agrotoken is about to shake up the agricultural market like a tornado in a cornfield. Get ready for a whole new way of doing agro-business!

OKX, Komainu, and CoinShares: The dream team for institutional crypto trading

If you’re a crypto enthusiast, you know that trading never sleeps. Thanks to the collaboration between OKX, Komainu, and CoinShares, institutional trading just got a lot smoother. Collateral assets are now securely held in third-party custody by the legendary Komainu. No more worrying about those pesky counterparty risks! It’s like having a team of superheroes guarding your assets 24/7. So, grab your cape and get ready to trade like a pro!

TSUBASA Governance Token takes the pitch in the crypto game

Blocksmith&Co. has just kicked off the trading of TSUBASA Governance Token (TSUGT) associated with the popular Web3 game ‘Captain Tsubasa -RIVALS-’ on the BITPOINT cryptocurrency exchange. What’s so special about this token, you ask? It’s not just about the money—it’s about the community. TSUGT holders get exclusive non-fungible tokens (NFTs) and invites to closed fan meetings. It’s like joining the biggest VIP club in the digital gaming world. So, lace up your virtual cleats and get ready for a goal-scoring adventure!

The NHL scores big with digital collectibles

Who said sports and blockchain don’t mix? The North American National Hockey League Players’ Association (NHLPA), National Hockey League (NHL), NHL Alumni Association (NHLAA), and Sweet have teamed up to deliver an immersive digital collectibles experience for NHL fans. Say hello to NHL Breakaway, the ultimate platform where fans can collect, trade, and show off their favorite hockey moments. With features like the Trade Lounge and Gamification, it’s a game-changer that will blow your hockey socks off!

There you have it, the latest and greatest in the world of crypto and blockchain. From securing digital mansions to gaming adventures and tokenizing commodities, this industry is full of surprises and opportunities. So, grab your virtual pickaxe and let’s mine some digital gold together!

Disclaimer: This article does not constitute financial advice. Always do your own research before making any investment decisions.

What’s your favorite story from today’s roundup? Are you ready to dive deeper into the world of crypto and blockchain? Let us know in the comments below!

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