Black Hat hackers are actively exploiting the cryptocurrency industry and its vulnerabilities. In the second quarter of 2022, the total loss of crypto projects due to hacks and fraud amounted to $670,698,280.
The Russian Central Bank is developing a new set of rules that would require credit organizations and payment service providers to report details of all monetary transactions. This will put pressure on cryptocurrency holders in the country.
According to the new study by Juniper Research, online businesses globally will lose more than $206 bln from online payment fraud by 2025. The figure is almost 10x equal to Amazon's net income recorded in the last year (2020).
In this era of technological revolution, several employers, companies and organizations are trying to adopt machine learning, decentralized technologies such as blockchain and distributed artificial intelligence (DAI) to improve work efficiency and reduce operational costs as the adoption of these tools leads to a reduction in the workforce.
There is an opinion that the Chinese ban is actually good for the bitcoin price in the long run. The ongoing crackdown on bitcoin mining and trading could boost bitcoin and other cryptocurrencies in the future.
The cryptocurrency market has declined from $2.501 trillion to $1.725 trillion in just two weeks, indicating a fall of about 31%. However, hedge funds are interested in cryptocurrency despite the drop.