In today's crypto news, at least 15 blockchain wallets reportedly turned a $14,600 investment into over $20 million from the recent launch of Solana-based Focai.fun (FOCAI) memecoin, raising decentralization concerns. The wallets accumulated over 60.5% of the total token supply, netting profits of over 136,000-fold before selling. Meanwhile, Bitcoin's hashrate peaked at an all-time high of over 1,000 exahashes per second as miners increased their capacity, more than doubling from the previous year. This increase occurred despite the impending halving event, which will reduce miner rewards. Lastly, blockchain security firm CertiK reported that phishing scams have become the most significant security threat in the crypto space, leading to over $1 billion in losses from 296 incidents in 2024. Three of these incidents resulted in losses exceeding $100 million, demonstrating the extent of damage possible from such attacks.

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