In crypto news today: Crypto market is green today $1.5 Billion Lost to Hacks and Rug Pulls in 2024 YTD Bitcoin Miners Spent $3.6 Billion on Equipment in Q3 PancakeSwap Unveils MEV Guard on BNB Chain __________ Crypto market is green today The global cryptocurrency market capitalization fell 0.7% over the past 24 hours. It currently stands at $3.49 trillion. At the same time, the total crypto trading volume is $192 billion. Despite the drop in market cap , most top 100 coins are still green. Half of the top 10 coins are also up. XRP (XRP) is the day’s best performer, having increased 7% to $1.59. While Bitcoin (BTC) increased less than 0.5% today, meaning that it’s practically unchanged, Ethereum (ETH) fell 1.2% to $3,568. Read more below. Check out the full market analysis here Why Is Crypto Up Today? $1.5 Billion Lost to Hacks and Rug Pulls in 2024 YTD In crypto news today, in 2024 year-to-date (YTD), the crypto space lost nearly $1.49 billion to hacks and rug pulls. This represents a 15% decrease compared to the same period in 2023, when losses totaled nearly $1.76 billion, according to the latest report by major bug bounty and security services platform Immunefi . More specifically, the ecosystem recorded a loss of $1,489,921,677 across 209 specific incidents. May and July saw the biggest stolen sums: $359 million and $282 million, respectively. Source: Immunefi Meanwhile, November’s losses totaled $71 million. This is the second-lowest monthly total loss YTD. Hacks continued to be the main cause of losses (99.96%) compared to fraud. Hacks were behind the loss of $70,996,200 in November across 24 incidents. At the same time, $25,300 was lost to rug pulls in two incidents. Additionally, DeFi represented 100% of the total volume of funds lost, compared to CeFi. Source: Immunefi Meanwhile, the most targeted chain was BNB Chain , which saw 14 individual attacks, representing 46.7% of the total losses across targeted chains. Ethereum experienced nine incidents, representing 30% of the total. Solana , Polygon , Fantom , Avalanche , Arbitrum , and Aptos each experienced one incident, accounting for 3.3%, respectively. You might also like Immunefi Suspends Trust Security Amid Dispute Over Denied Bug Bounty Payment Bitcoin Miners Spent $3.6 Billion on Equipment in Q3 Sixteen publicly traded mining companies spent more than $3.6 billion on property, plant, and equipment (PP&E), according to the latest Miner Weekly report by BlocksBridge Consulting . Notably, they collectively raised over $5 billion through equity and debt financing year-to-date. The third quarter of this year saw the highest net PP&E spending since Q1 2022, which marked the start of the last bear market. CleanSpark hasn’t released its Q3 earnings yet. However, once its numbers are included, “Q3’s spending could surpass Q1 2022’s record,” the report said. Source: Miner Weekly Meanwhile, public miners spent most on mining hardware, committing $2 billion to hardware purchases between July 2023 and March 2024 for delivery through September 2024. Bitmain is still the dominant manufacturer of ASIC mining machines. It captured “a significant portion of these purchases.” On the other hand, mining companies’ equity financing seems to be slowing down. These companies raised only $813 million in Q3 compared to $1.6 billion in Q2. “However, debt financing is making a comeback,” said the report. These firms raised $500 million in Q3, marking the largest single-quarter debt issuance since Q1 2022. You might also like Federal Judge Blocks Arkansas from Shutting Down Crypto Miner of Chinese Descent PancakeSwap Unveils MEV Guard on BNB Chain In other crypto news today, decentralized exchange (DEX) PancakeSwap revealed a PancakeSwap MEV Guard on the BNB Chain , powered by the 48 Club DAO, to protect traders from Miner Extractable Value (MEV) attacks. Per the press release, PancakeSwap’s MEV Guard is a free, one-step solution designed to improve trading security, privacy, and efficiency. It leverages the infrastructure provided by 48 Club to enable private, MEV-resistant transactions. 1/2 Introducing PancakeSwap MEV Guard on @BNBCHAIN —powered by @48Club_Official Protect your swaps on BNB Chain from frontrunning & sandwich attacks for secure, private, and better-rate trades Best of all, it’s completely FREE https://t.co/1ZmhZiXRts Learn more… pic.twitter.com/JgZJ80Rbvz — PancakeSwap (@PancakeSwap) November 28, 2024 MEV attacks, such as frontrunning and sandwiching, exploit public blockchain data to manipulate trades and drain user value. This has been a long-standing issue, costing DeFi users millions in lost value and failed transactions. PancakeSwap says its solution provides secure swaps, fast and reliable RPC, free and simple setup, and multi-wallet support. Furthermore, PancakeSwap MEV Guard seamlessly integrates with wallets like MetaMask , SafePal , and others, allowing users to trade while shielding their transactions from the public mempool, which is a common target for MEV attackers. You might also like PancakeSwap Reveals ‘Affiliate’ Initiative to Enable Forks Across Blockchains __________ Bookmark this page and subscribe to our newsletter for the latest crypto news updates! The post What’s Happening In Crypto Today? Daily Crypto News Digest appeared first on Cryptonews .
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