Hey folks,
The first half of 2025 has been rough for crypto and blockchain security.
Last week, another crypto exchange was hacked, and funds to the tune of $44 million were admittedly lost.
Earlier in June, we saw two such stories. First, a phishing pop-up on CoinMarketCap tricked users into approving malicious wallet permissions, draining dozens of wallets before the exploit was patched.
Second, software security firm Koi Security also published a report exposing fake Firefox browser extensions designed to steal cryptocurrency wallet credentials.
In the past six months alone, the crypto industry worldwide has lost approximately $2.4 billion to hacks, scams, and exploits across 121 incidents, as per security firm SlowMist’s latest report.
Bottomline: It pays to be cautious! At CoinSwitch, we’re extra cautious.
How is CoinSwitch secure?
Here’s what powers that safety:
Fully compliant with FIU-IND regulations and ISO/IEC 27001 certified for robust information security.
App-level protections like PINs, biometric login, 2FA, and no sensitive data stored on devices.
Encrypted communication, strict app permissions, and secure hosting on AWS with tight access controls.
Custodial wallets secured with enterprise-grade security, already trusted to secure over $10 trillion in digital asset transfers worldwide.
Multi-Party Computation to ensure no single person can move funds without proper authorization.
Over 95% of user assets are kept in cold wallets to minimize exposure to online threats.
Annual Proof of Reserves audits by independent firms, confirming all user balances are fully backed 1:1. (May 2025 POR)
Dedicated 24/7 customer support through @Csksupport and tickets for fast issue resolution.
Backed by top global investors, giving CoinSwitch financial stability even in volatile markets.
These measures work together so you can invest and trade with peace of mind.
You can read more about our security and compliance practices in detail here.
Even in a high-risk environment, selecting the right platform can make a significant difference.
Stay secure, stay informed.
In the past week, BTC saw $2.38 billion in inflows but ended the week down over 2% as it moved into a consolidation phase. Meanwhile, ETH had a strong week, crossing $3,800, boosted by $2.1 billion in inflows into ETH ETFs. Among altcoins, CRV, ENA, and FLOKI led the green party with significant gains.
Weekly price movement:
BTC $119,420 ⏬ 2.67% (7d)
ETH $3,787 ⏫ 24.49% (7d)
CRV $0.98 ⏫ 42.03% (7d)
ENA $0.50 ⏫ 42.01% (7d)
FLOKI $0.0001421 ⏫ 42.29% (7d)
(All data here as of 1:35 p.m., 21 July 2025)
Before we conclude, here’s a quick look at some important news from around the crypto world.
In a pivotal moment for the crypto industry, US President Donald Trump signed the GENIUS Act into law on July 18th, establishing new regulations for stablecoins. This legislation, backed by bipartisan support, aims to enhance consumer confidence and solidify the US position as a leader in the crypto market. The Act introduces foundational rules and consumer safeguards for stablecoin digital currencies pegged to assets such as the US dollar to minimize price fluctuations, according to Livemint.
Bitcoin’s dominance rate has dropped sharply, indicating that traders are increasingly focusing on the broader crypto market. The dominance rate, representing BTC’s share of the total crypto market valuation, has decreased by 5.8% in one week to just under 61%, marking the lowest level since March, according to data source TradingView. This is the biggest slide since June 2022, according to CoinDesk.
That’s it for now. Thanks for sticking around.
See you later, folks! 👋