BNB Chain Was Most Attacked Chain In Q2 With 36 Incidents, Crypto Scammers Posed As Canadian Police Officers, Bill To Exempt Foreigners In Israel From Crypto Taxes Passes Preliminary Reading

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Get your daily, bite-sized roundup of crypto asset and blockchain-related news, digging into the stories flying under the radar in today’s crypto news.

security news

  • Security services platform and bug bounties immune threw his Q2 2023 Crypto Loss Report, which found that in the second quarter, the number of attacks skyrocketed, with the number of individual incidents increasing 65% year-over-year, from 49 to 81. However, the total number of losses was down 60.4% compared to Q2. second quarter of 2022, reaching almost $265.5 million. . Overall, there was a total loss of over $702 million across the entire YTD ecosystem. In the second quarter of 2023, BNB Chain was the chain with the most attacks, with 36 incidents, followed by Ethereal with 26 incidents, Referee with 10 incidents compared to 0 in Q2 2022, Polygon and ZKSync with 2 incidents each, and Optimism, sui, and others, with 1 incident each. “We’ve seen a significant increase in rug thefts, both in terms of funds stolen and the number of incidents,” said Mitchell Amador, Immunefi’s CEO. “As bad actors continue to expand their malicious activities and employ increasingly sophisticated scams, users should carefully evaluate projects.”

scam news

  • Canadian police warn of scammers claiming to be Calgary officers while stealing thousands of dollars in cryptocurrency schemes, the National Post reported. The researchers said that, in most cases, the scammers claim to be a family member who was arrested, while someone posing as an officer demands money for attorneys’ fees in bitcoin (BTC). “Scammers often use high-pressure and fear-based tactics to get paid quickly,” police said. “Don’t feel pressured to provide money to strangers, and take the time to talk with trusted friends and family to verify the legitimacy of the situation.”

tax news

  • A bill granting exemption from capital gains tax on the sale of digital currencies to foreign residents in Israel and other tax benefits approved through a preliminary reading in parliament. “The significance of last night’s vote result is that Israel wholeheartedly supports cryptocurrency. Like Rishi Sunak in the UK and lawmakers across Europe, Finance Minister Bezalel Smotrich has strengthened the local sector and issued a clear call to global investors and companies: Israel invites you to do business on our shores,” an explanatory note read.
  • Crypto poses significant fiscal problems, which could get worse, he said a report for him International Monetary Fund (IMF). Among the key issues, “the most fundamental difficulty in taxing crypto assets is that they are ‘pseudonymous,'” saying. “This can facilitate tax evasion. Implementation is therefore the heart of the matter for tax authorities.”

Regulation News

  • south korean Financial Services Commission (FSC) clarified the standards for its employees to report cryptocurrency holdings, as defined in the Specific Financial Reporting Act. According To Decenter, citing an administrative notice, this affects employees who currently perform tasks related to digital assets and those who have performed them in the last six months. The FSC has also created a new form for reporting possession of digital assets, which requires employees to disclose the type of digital assets they own, the date of purchase, and the amount.

Stablecoin News

  • USDC issuer Circle is considering issuing a stablecoin in Japan as legislation governing stablecoins went into effect on June 1, CEO Jeremy Allaire said Coin Desk Japan. He said that Circle is interested in partnerships in this country, adding that if stablecoins are more widely used for cross-border trade, foreign currency transactions, and global trade, Japan will become an extremely large market.

investment news

  • Data analysis platform cryptoquantification Announced which raised $6.5 million in a South Korean-led Series A Atinum Investments. The company said it plans to use the proceeds to recruit for its South Korean and international operations. Series A raises its total capital increase to $9 million, with previous investments of interactive galaxy and Mirae Asset Capital.