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The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that the firm’s hot wallet was drained just before midnight the day prior. Crypto Derivatives Exchange Deribit Loses $28 Million — Company Says Customer Funds Are Safe and Business ‘Remains in a Financially Sound Position’ In terms of open interest and volume tied to bitcoin (BTC) and ethereum (ETH) options, Deribit has been the leading crypto options exchange for quite some time now. On Wednesday, the exchange&#x2019 ;s official Twitter account explained that the trading platform’s hot wallet was siphoned for nearly $28 million. “Deribit hot wallet compromised, but client funds are safe and loss is covered by company reserves,” Deribit said on Wednesday. Our hot wallet was hacked for USD 28m earlier this evening just before midnight UTC o...

Well over a decade ago, on January 3, 2009, the size of the Bitcoin blockchain was 0.285 kilobytes (kB) or around 285 bytes. Today, however, the blockchain’s ledger is nearly half a terabyte, or roughly 432 gigabytes. Bitcoin’s Blockchain Nears 500 Gigabytes in Size On October 15, 2022, the Bitcoin (BTC) blockchain is getting closer to reaching 500 gigabytes, or roughly half a terabyte of space, in order to store the entire distributed ledger’s history on a drive. At the time of writing, storing the entire BTC blockchain requires more than 432,000 megabytes (MB) or 432 gigabytes (GB) of space. Close to 14 years ago on January 3, 2009, the blockchain was less than a kilobyte in size or approximately 285 bytes, the day Satoshi Nakamoto launched the network. It wasn’t until February 16, 2009 that Bitcoin’s distributed ledger surpassed 1 MB in size and by February 13, 2012, the blockchain was approximately 1,000,000 kB or 1 GB in size. At 432 GB today,...

While the crypto economy has shed significant value, losing more than $2 trillion since the highs recorded at the end of 2021, a great deal of value was erased from smart contract platform tokens and decentralized finance (defi) protocols. One sector of the defi ecosystem that’s recorded heavy losses this year is the blockchain oracles space, as a great number of oracles secure a lot less value than they did seven months ago. While there are more than two dozen oracles today and there were only 17 at the beginning of the year, the total value secured by oracles has decreased by 61.74% since mid-February. Today There’s a Lot More Blockchain Oracles but Less Value Secured by All of Them Since Mid-February Blockchain oracles have seen significant growth since the inception of these protocols but in 2022, the protocols secure a lot less value than they did seven months ago. A blockchain oracle is essentially middleware that connects a blockchain network to external systems...