Immunefi Highlights $572M Loss in Q2 2024 Due to Hacks and Rug Pulls

Summary of Key Developments in Crypto and Blockchain (June 27, 2024)

1. Crypto Losses in Q2 2024:
   • Immunefi reported a significant increase in crypto losses due to hacks and rug pulls, totaling $572 million in Q2 2024, marking a 112% rise compared to the same period in 2023. The total losses for the year have reached over $920 million.
2. Tezos Unveils ‘Tezos X’ Roadmap:
   • The Tezos blockchain has announced its "Tezos X" roadmap, which includes technological upgrades aimed at enhancing performance, composability, and interoperability. The plan involves separating transaction execution into a "canonical rollup."
3. REDACTED Raises $10M:
   • REDACTED, which is building an "entertainment datasphere," raised $10 million in funding from various investors, including Spartan Group and Saison Capital.
4. SCrypt Launches UTXO Blockchain Toolkit:
   • SCrypt has introduced a developer toolkit for UTXO blockchains, aiming to facilitate the integration of these blockchains into applications. The toolkit includes SDKs and APIs.
5. Rebar Labs Secures $2.9M:
   • Rebar Labs raised $2.9 million to develop "MEV-aware infrastructure" for Bitcoin, aiming to tackle challenges in the expanding Bitcoin ecosystem.
6. BVNK Introduces ‘Layer1’:
   • BVNK launched "Layer1," a self-custody infrastructure for stablecoin payments, designed to simplify blockchain payment integration for fintechs.
7. Chainlink Data Streams on Avalanche:
   • Chainlink launched its Data Streams on the Avalanche network, with decentralized perpetual exchange GMX as a launch partner, enhancing market data availability for DeFi products.
8. SSV Network Extends Mainnet Program:
   • SSV Network extended its incentivized mainnet program through December 2024, restructuring reward tiers to boost participation and engagement from validators.
9. Dfinity Foundation Launches ‘UTOPIA’:
   • The DFINITY Foundation announced "UTOPIA," an on-chain serverless cloud aimed at enhancing cybersecurity for high-risk sectors such as defense and financial services.
10. Wanchain’s Token Bridge:
    • Wanchain launched a token bridge connecting the Polkadot Relay Chain and Cardano blockchain, promoting greater interoperability between non-EVM networks.
11. Theta Network Expands EdgeCloud:
    • Theta Network expanded its EdgeCloud computing platform, introducing the Elite Booster feature to enable users to earn tokens for GPU AI tasks.
12. Worldcoin Partners with Alchemy:
    • Worldcoin partnered with Alchemy to develop infrastructure for the World Chain, offering a comprehensive Web3 developer platform.
13. Rarimo’s RariMe App:
    • Rarimo released RariMe, an identity verification app using zero-knowledge proofs (ZKs) and smartphones to scan passports, providing an alternative to Worldcoin.
14. Superchain Network and Anyone Protocol Partnership:
    • Superchain Network and Anyone Protocol teamed up to improve privacy management in decentralized environments, enhancing security and data sovereignty.
      Each of these developments represents significant progress and innovation in the blockchain and crypto space, highlighting ongoing efforts to improve security, interoperability, and user experience.