Here are the recent developments from the crypto world.
The World Economic Forum (WEF) has called on global policymakers and regulators to promote decentralized finance (DeFi) innovations and experiments within regulatory sandboxes, emphasizing the importance of customized risk management and transparency.
In its latest review of nine key economies, including the United States, United Kingdom, Japan, and the United Arab Emirates, the WEF highlighted the need for a customized regulatory approach to DeFi.
The report suggested the use of sandboxes to keep DeFi investments aligned with regulatory frameworks, enabling controlled experimentation, managing risks, and ensuring transparency in the process.
The weekly sales volumes of non-fungible tokens (NFTs) surged to their highest levels since August after weeks of sluggish performance amid a broader market downturn.
According to the data from NFT market tracker CryptoSlam, sales between Sept. 30 and Oct. 6 surpassed $84.9 million. This marks the highest weekly volume since the week ending Aug. 25, which saw over $93 million in sales.
As per reports in the CryptoSlam, Of the top five NFT blockchains, only two recorded positive gains for the week.
Additionally, the number of NFT buyers increased by almost 22% from the previous week, with more than 839,000 buyers, while total transactions saw a 71% jump, exceeding two million.
Despite these gains, the broader NFT market still continues to struggle in recovering from the highs of previous years.
Investigators from the United States Department of Homeland Security have successfully thwarted hundreds of ransomware attacks, often before they could take place, and have seized billions in extorted cryptocurrency since 2021.
According to an Oct. 4 report from Bloomberg, Mike Prado, deputy assistant director of the Homeland Security Investigations (HSI) Cyber Crimes Center, revealed that U.S. agencies were the primary targets, making up 21% of the disrupted attacks—more than any business sector.
Since its inception in 2021, the division has disrupted 537 ransomware attacks and recovered $4.3 billion in cryptocurrency stolen through extortion payments from exchanges and hackers’ devices.
Ransomware attacks typically involve a scammer encrypting a user’s data and demanding payment for the decryption key, as noted by Akamai. Prado emphasized that HSI is proactively combating cybercrime by closely monitoring evolving criminal tactics.