Hacks and scams swiped $1B in 2023. Swift and Chainlink joining efforts. 1inch puts $10M into Ethereum at once.

September 1, 2023

Crypto Market Update 01-09-23

Happy Friday everyone!

As the holidays come to an end and everything goes back to normal, we are the same, punctual like clockwork, here is your weekly recap 📰😎

Last 7 Days Market Performance 

Bitcoin is down 0.1%, now at $ 25,815.00 📉

Ethereum is down 0.5%, now at $ 1,633.00 📉

Total crypto market cap: $ 1.08 Trillion

Fact for the week:

Imagine: France is about to destroy enough wine to fill more than 100 Olympic-size swimming pools and that will cost $216 million! 🍷 This may seem madness, but there is actually a good reason for it: Due to recent world events, making wine has become more expensive and people are drinking less, leaving producers with a surplus they can't profit from. Did you know that in 1926, each French individual consumed 136 liters yearly. These days? Only 40 liters. 🧐

Onto this week’s updates 🚦

🔴 Hacks and scams swiped $1B in 2023 🚨

In August alone, cybercriminals stole over $45 million from crypto users, as per a report from blockchain security firm CertiK. The breakdown: $26 million from exit scams, $6.4 million from flash loan attacks, and $13.5 million from exploits. For 2023 so far, the total stolen amount is nearly $1 billion! For some reason, many people are still afraid of moving around in crypto on their own and this data could certainly be one of those reasons. 🛡️

🟡 Swift and Chainlink joining efforts 🤝

SWIFT is a global firm providing secure international bank messaging and transfers (simply said, it’s how you can transfer money to your friend in another part of the world) and this week they announced that the experiment with Chainlink’s new protocol was a success in connecting banks and traditional financial systems with blockchain technology. As you know Lympid is supported by Chainlink, so we couldn't be prouder of them. 🎉

🟢 1inch puts $10M into Ethereum at once 💵

Cheers also here to Lympid’s first and main supporter, the 1inch Foundation! And this week a blockchain tracking tool found that the 1inch Investment Fund bought $10 million in Ethereum over the weekend. This is an amount that demonstrates the positive feeling towards the future of ETH, and if you're wondering how it was possible to know that, it's simple, everything that happens on the blockchain is completely transparent, as if all transactions between bank accounts could be consulted publicly. 🤓

🎬September has just begun and with it everyone is back at work, so we expect the next few weeks to be more hectic on the markets, so keep an eye on Lympid and we'll keep an eye on you 🙂

Talk next week. 👋


Great job on learning something new today 🎉