The blockchain intelligence firm says total losses from crypto fraud, thefts, and hack attacks stood at $1.8 billion for the first 10 months of 2020. That’s substantially less than the $4.5 billion seen over the whole of last year. Alas, it’s a little too early to proclaim that the digital assets industry has turned a corner. CipherTrace’s data also shows that half of all crypto hacks this year have targeted DeFi protocols and exchanges—a stark contrast to 2019, when attacks on decentralized finance platforms were “virtually negligible.”
With $4M round, Polymarket predicts success
Can Shayne Coplan’s prediction market turn bets into information? Investors like Olaf Carlson-Wee’s Polychain and Naval Ravikant are wagering yes
Blockchain-based prediction markets like Polymarket allow people to bet on real world events—essentially making them put their money where their mouth is on questions ranging from who will win a presidential debate to whether Drake will release a new studio album this year. Broadly, the idea to use the free market to get better and more accurate information than is available through the tornado of misinformation and bias unleashed by social media.
Celo Foundation’s Alliance for Prosperity seeks financial inclusion
The social impact stablecoin’s 50 supporters will build mobile dApps aimed at bringing cheaper remittances, microloans, and humanitarian aid to the poorest
Announced on March 11, the 50-member Alliance aims to support the Celo blockchain by building a variety of mobile phone-based financial tools aimed broadly at combating poverty and inequality.