Crypto Weekly Hack Report: $93M Losses from ThorChain and $70M Hack on Phemex

The post Crypto Weekly Hack Report: $93M Losses from ThorChain and $70M Hack on Phemex appeared first on Coinpedia Fintech News

Several events have impacted DeFi projects and exchanges throughout this week. While ThorChain announced insolvency to suspend its operations leaving behind a $93 million deficit, Singapore-based Phemex endured a hack resulting in over $70 million in losses. The crypto ecosystem experienced rising security breaches and frauds through meme coins, social media misuse and Google Ads-based …