The BNB Chain network experienced a notable decrease in the amount of cryptoassets lost in 2023, breaking a three-year upward trend. According to a recent report by AvengerDAO, a collaboration of security firms CertiK, Hashdit, Ancilia and Salus, network losses were reduced by 85%.

The report detailed that, since 2020, losses at BNB Chain had been steadily increasing, peaking in 2022 with more than $1.1 billion in stolen crypto assets. However, in 2023, the situation reversed dramatically, recording only $161 million in losses, a significant drop from the previous year.

In addition, there was a decrease in funds lost through hacks and scams at BNB Chain. Hacks showed a 91% reduction in the amount lost, while scams decreased by 54% in 2023.

Despite the decrease in stolen value, the report highlighted an increase in hacking attempts and scams. The year 2023 registered 210 hacks, an increase of 96%, and scams increased by 14%, with 2023 cases reported.

A representative of the BNB Chain Lead Development Team attributed the reduction in lost funds to AvengerDAO’s rapid alerts, which warn the community of possible malicious actors. “The reduction in losses is largely due to early alerts to minimize participation in potential scams,” they explained.

In 2023, BNB Chain stepped up its use of “Red Alerts”, a risk assessment tool, with Hashdit sending out about 3,500 alerts and 330 warning tweets.

K. Tovar

Source: EIN News

(Reference image source: Lukas Blazek, Unsplash)

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La entrada Losses from theft at BNB Chain fell by 85% apareció primero en Bitfinance.

BNB Chain together with CoinCoinX are organizing the Revelation Hackathon, which will take place next Monday, April 25, starting at 4:00 p.m. in the Naiguatá Room of the Tamanaco Intercontinental Hotel, in Caracas. The event will aim to present the latest trends in blockchain technology.

Revelation Hackathon, is a world event where the latest preferences of blocks technology and the projects that are being developed within the cryptographic system are exhibited.

On this occasion, the organizers will present the main programmers, who, through their collaborative work, seek an answer to “a challenge or technical problem of an organization in record time-” Said response will be presented “in the form of a finished prototype for an innovative product, service or business model”, the organizers indicated through a statement to the media.

Revelation Hackathon focused on blockchain and cryptocurrencies

The organizers of Revelation Hackathon plan to hold 6 different exhibitions, lasting approximately 20 minutes, where they will address topics such as:

• Platform and process to acquire cryptocurrencies
• blockchain trends
• BNB Chain ecosystem

In addition, the event plans that all the presentations have time to answer all the concerns of the attendees, as well as networking spaces at the end of the presentations.

The concept of “hackathon” dates from approximately 1999 and since then they have not stopped increasing globally, however, it is the first time that it will be held in Venezuela.

M. Rodríguez

With information from press release

La entrada Latest Blockchain Trends at Revelation Hackathon apareció primero en Bitfinance.