July Heatwave! Crypto Hacks Surge 27%—Year-End Losses Could Hit $4.3B

Crypto's summer of chaos isn't cooling down. Hackers just turned up the heat.

July saw a 27% spike in crypto exploits—and analysts warn the bleeding won't stop there. Projections now show $4.3 billion in damages by New Year's Eve if this pace continues.

Where's the money going? Straight into hackers' offshore accounts, naturally. Meanwhile, exchanges keep recycling those 'enhanced security' press releases like they're NFT floor prices.

Pro tip for investors: That 'hot wallet' isn't just a metaphor anymore.

Spain’s insurance and pension fund watchdog, Dirección General de Seguros y Fondos de Pensiones (DGSFP) has appointed LSEG (London Stock Exchange Group) following a competitive tender process to support the enhancement of its data collection and supervisory capabilities.

As part of this collaboration, DGSFP has implemented , LSEG’s industry-leading platform for strategic pricing and reference data delivery. DataScope Select will enhance data accuracy and collection, supporting DGSFP’s regulatory and supervisory workflows and strengthening oversight of Spain’s insurance and pension fund sector in a scalable and efficient manner.

said:

“As regulatory demands evolve, the need for robust, automated, and data-rich solutions becomes critical. We are proud to support DGSFP in its mission to uphold financial stability and regulatory compliance in Spain’s insurance sector. This collaboration underscores LSEG’s commitment to supporting regulators and financial institutions globally with advanced data and technology solutions that promote transparency, efficiency, and resilience in financial markets.”

This collaboration also holds strategic regional significance, as it empowers DGSFP in fulfilling its supervisory responsibilities under the European Union’s Solvency II Directive, by taking data-driven and risk-based decisions.

DGSFP operates under the Spanish Ministry of Economy and is responsible for supervising and regulating the national insurance and pension fund industries.

Source: LSEG