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U.S. Authorities Recover Bitcoins Worth $2.3M from Pipeline Hackers

U.S. authorities have retrieved nearly $2.3 million paid in Bitcoins to hackers who hijacked a major East Coast fuel pipeline in a ransomware attack.

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U.S. authorities have retrieved nearly $2.3 million paid in Bitcoins to hackers who hijacked a major East Coast fuel pipeline in a ransomware attack last month. The Colonial Pipeline, which provides gasoline, diesel, and jet fuel among other petroleum products, was forced to suspend its operations for six days, as the company overseeing it tried to retain control of its business systems.

U.S. Authorities Recover 64 Bitcoins Paid to Ransomware Hackers

Justice Department reported that its investigators seized around 64 bitcoins, worth $2.3 million, from a virtual wallet. Stephanie Hinds, acting U.S. attorney for the Northern District of California, where the warrant was obtained, told reporters, “the extortionists will never see this money.”

The Biden administration classifies a ransomware attack as a criminal act to hijack an organization’s computer network or sensitive data to extract ransom from the victims. In the last month itself, officials have been repeatedly spurred into action by a spate of cyberattacks that have targeted America’s fuel and meat supply, and vulnerable information infrastructure at schools, hospitals, and local government offices. 

Hackers Use Virtual Wallets to Cover Tracks

In the event of a ransomware attack, the FBI encourages victims to avoid conceding to the demands of hackers. The organization feels that submitting to criminal demands boosts the marketplace for hackers and doesn’t actually lead to a restoration of systems. But Colonial Pipeline’s CEO Joseph Blount told the media that his company had paid $4.4 million to the hackers since they were uncertain about the time it would take for the systems to be back online.

The FBI, however, had been tracking Colonial’s ransom payment. Law enforcement bodies are known to collaborate with private-sector crypto experts, who can easily track transactions on public ledgers or blockchains. Sujith Raman, who has previously worked with the Justice Department as a senior official, said, “because bitcoin transactions are available on a publicly distributed ledger, in many cases law enforcement can trace bitcoin payments and track stolen funds.”

To avoid tracing, many criminals resort to switching between various crypto wallets or employ the services of affiliates, who help convert the ransom amount into hard cash at exchanges or other cryptocurrencies.

Investigators on the Colonial Pipeline case managed to recover 64 bitcoins of the total 75 paid to the hackers.

US Administration Calls For Tighter Regulation of Cryptocurrencies

Lawmakers have called for increased regulation of cryptocurrencies in recent weeks, pointing out that they facilitate cybercrimes such as ransomware attacks.

The Colonial Pipeline hack is believed to have been carried out by DarkSide, a well-known ransomware group based in Russia. Researchers in the field think the group has added millions to its wealth in the last year. In May, the group announced that it was shutting down due to the pressure from American law enforcement bodies. But security experts claim that groups like DarkSide often resurface under a different name.

So far, investigators have identified 90 victims of the group. Many like Colonial Pipeline, are willing to come forward with their experience before the authorities to hold criminals accountable.

READ  South Korean Travel Agent Caught Up In $3 Billion PlusToken Scam

#Bitcoin ransom #Ransomware Attacks #US Ransomware

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Source: https://www.cryptoknowmics.com/news/u-s-authorities-recover-bitcoins-worth-2-3m-from-pipeline-hackers

Blockchain

Yearn Finance (YFI) and Synthetix (SNX) Technical Analysis: What to Expect?

Synthetix and Yearn Finance are sinking. If $7 falls, SNX/USDT may halve to $4—or worse. Meanwhile, YFI/USDT is on the cusp of falling further to $26k.

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Synthetix and Yearn Finance are sinking. If $7 falls, SNX/USDT may halve to $4—or worse. Meanwhile, YFI/USDT is on the cusp of falling further to $26k.

Yearn Finance (YFI)

The automated aggregator allows DeFi investors to draw maximum yields from various protocols. YFI is central to the platform.

Past Performance of YFI

The YFI/USDT is still under the shadow of sellers who dominated in the second half of May 2021.

Bears are in control, and liquidation across the board may flatten out attempts to revive bulls.

Presently, YFI is down nine percent against the USD and ETH on the last trading day.

READ  BaFin Eases Licensing Process For Foreign Crypto Custodians 

Day-Ahead and what to Expect

The path of least resistance is southwards.

Although Ethereum’s fundamentals might rejuvenate YFI/USDT price action, candlestick arrangement, and BTC weakness combine to deflate optimistic bulls.

YFI bear bars are banding along with the lower BB, signaling selling pressure below $40k and the middle BB.

YFI/USDT Technical Analysis

YFI Price Daily Chart for June 22

Losses of June 21 were perpendicular, pointing to sellers’ convictions.

Accordingly, every high may present a selling opportunity for YFI/USDT bears, targeting $26k or May 2021 lows.

Unexpected gains from spot levels, preferably with high trading volumes, reversing June 21 losses may trigger a revival with targets at $40k for YFI.

Conversely, further dumps firmly place YFI/USDT price action to sellers.

Synthetix (SNX)

The decentralized derivatives trading DeFi protocol uses SNX as its token. In addition, the platform plans to adopt Optimism as its Layer-2 scaling option.

READ  COTI and Avalanche (AVAX) Technical Analysis: What to Expect?

Past Performance of SNX

SNX sellers have reversed over 80 percent of gains made during the steep increase from November 2020 to 2021 peaks of February 2021.

Losses may continue considering the state of price action, favoring sellers.

SNX is down double-digits as of writing, falling 11 percent against the USD on the last trading day.

Meanwhile, trading volumes rose to $78 million, suggesting possible offloading.

Day-Ahead and what to Expect

SNX sellers, based on price action in the daily chart, are motoring ahead.

At spot rates, dips below $7 confirming June 21 draw-down may see another dump down towards $4—visible reaction points of November and December 2021.

SNX/USDT Technical Analysis

SNX Price Daily Chart for June 22

Confirmation of SNX/USDT bear bar of June 21 below $7 could cement sellers’ conviction.

READ  4 Reasons to Scrutinize BuyCrypto.today Before Using the Service

In that case, SNX prices may halve to $4.

Conversely, suppose prices find support at spot rates, reversing June 21 losses despite the intense selling pressure. In that case, SNX could lift off above $8 to $14 in the medium term.

#DeFi #SNX #SNX/USDT #Synthetix #Yearn.finance #YFI #YFI/USDT

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Source: https://www.cryptoknowmics.com/news/yearn-finance-yfi-and-synthetix-snx-technical-analysis-what-to-expect

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Blockchain

Dollar Remains Steady as Cryptocurrencies Continue to Decline

The dollar recorded a slight dip, while cryptocurrencies continued their downward slide as traders anticipated more hints from Fed chair Jerome Powell.

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The dollar recorded a slight dip and remained largely stable, while cryptocurrencies continued their downward slide as traders anticipated more hints from Fed chair Jerome Powell. Last week, investors across the world were left scrambling after a change in the central bank’s outlook for interest rate hikes.

Dollar Continues Its Steady Run As Cryptocurrencies Stumble After Fed Announcement

The greenback rose sharply in value after the Federal Reserve announced sooner-than-expected twin rate hikes in 2023. However, on Monday, it returned some of those gains when it lost 0.4% against Euro and 0.5% against Yen. 

On Friday, the index which tracks the dollar against six major currencies also fell by 0.2% to reach 92.074 from a peak of 92.405, a level that was last observed on April 13.

According to Imre Speizer, a currency analyst at Westpac, the drop in the greenback could be a temporary repositioning, before the currency is once again headed to the top. He said, “We’ve had a bit of a positioning cleanout – the whole world was mega short the U.S. dollar, and that’s in good part probably been cleaned out already – and now we take a wee breath before the next move up.”

Bitcoin and Ether Record Double-Digit Losses

Meanwhile, cryptocurrencies continued their downward trajectory as Fed expressed concerns over inflation. This development coupled with ominous reports from China relating to crypto mining caused the flagship digital asset to drop by 11%. 

Bitcoin’s rival Ether also fell by 15% and recorded its highest sell-off in a month. While both the digital currencies maintained prices above their May lows, the overall sentiment around them was sluggish.

Many experts were upbeat about a Bitcoin comeback earlier this month when the currency briefly soared above $40,000 — a level considered vital for the asset to stabilize. But BTC prices soon found themselves in the red and the currency has been on a downward trend since June 15.

The Fed announcement had taken both stock and crypto markets by surprise and triggered a wide sell-off that impacted even traditional assets like gold.

READ  Retail Use OF Bitcoin By Merchants Is On Rise: BitPay and Coinbase Data

#Bitcoin falls #Dollar #Federal Reserve Interest Rate #Rate Hike

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/dollar-remains-steady-as-cryptocurrencies-continue-to-decline

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Blockchain

Dollar Remains Steady as Cryptocurrencies Continue to Decline

The dollar recorded a slight dip, while cryptocurrencies continued their downward slide as traders anticipated more hints from Fed chair Jerome Powell.

Published

on

Table of Contents

Rate this post

The dollar recorded a slight dip and remained largely stable, while cryptocurrencies continued their downward slide as traders anticipated more hints from Fed chair Jerome Powell. Last week, investors across the world were left scrambling after a change in the central bank’s outlook for interest rate hikes.

Dollar Continues Its Steady Run As Cryptocurrencies Stumble After Fed Announcement

The greenback rose sharply in value after the Federal Reserve announced sooner-than-expected twin rate hikes in 2023. However, on Monday, it returned some of those gains when it lost 0.4% against Euro and 0.5% against Yen. 

On Friday, the index which tracks the dollar against six major currencies also fell by 0.2% to reach 92.074 from a peak of 92.405, a level that was last observed on April 13.

According to Imre Speizer, a currency analyst at Westpac, the drop in the greenback could be a temporary repositioning, before the currency is once again headed to the top. He said, “We’ve had a bit of a positioning cleanout – the whole world was mega short the U.S. dollar, and that’s in good part probably been cleaned out already – and now we take a wee breath before the next move up.”

Bitcoin and Ether Record Double-Digit Losses

Meanwhile, cryptocurrencies continued their downward trajectory as Fed expressed concerns over inflation. This development coupled with ominous reports from China relating to crypto mining caused the flagship digital asset to drop by 11%. 

Bitcoin’s rival Ether also fell by 15% and recorded its highest sell-off in a month. While both the digital currencies maintained prices above their May lows, the overall sentiment around them was sluggish.

Many experts were upbeat about a Bitcoin comeback earlier this month when the currency briefly soared above $40,000 — a level considered vital for the asset to stabilize. But BTC prices soon found themselves in the red and the currency has been on a downward trend since June 15.

The Fed announcement had taken both stock and crypto markets by surprise and triggered a wide sell-off that impacted even traditional assets like gold.

READ  OKCoin Top Officers to Assume New Position Next Month

#Bitcoin falls #Dollar #Federal Reserve Interest Rate #Rate Hike

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/dollar-remains-steady-as-cryptocurrencies-continue-to-decline

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Blockchain

Is Margex A Scam?

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Margex is a derivatives crypto exchange that offers margin trading with up to 100:1 leverage. Margex was designed as a fair, transparent, and secure exchange focusing on excellent user experience

Main Features

  • Best usability on the market.
  • Easy to start yet includes advanced pro features.
  • Real-time on-screen deal indicators such as trading fees, financing, PnL, etc.
  • Simultaneous use of stop-loss/take-profit to set and forget trades.
  • Unique MP Shield™ AI-based system protecting users from price manipulation and unfair liquidations.
  • Prices never deviate from that of leading spot exchanges.
  • Adjustable isolated leverage with up to 100x available.
  • Trade BTC, ETH, LTC, XRP, EOS, and YFI.
  • High liquidity provided by verified external liquidity providers.
  • Competitive fee structure.
  • No KYC is required to use our platform.
  • Referral program offering 40% flat rate commission.

Additional Features

  • No overloads, 99,99% uptime
  • Combined order book & 12+ liquidity providers
  • Very competitive fees
  • Industry best security practices 

Fees:

Margex offers competitive trading fees which are lower than competing platforms, including Bybit. 

Currently, Margex charges a 0.019% Maker Fee and a 0.060% Taker Fee for trading Bitcoin. In contrast, Bybit charges a 0.025% Maker Fee and a 0.075% Taker fee for trading Bitcoin.

PAIR MAKER FEE TAKER FEE FUNDING/LONG FUNDING/SHORT FUNDING INTERVAL
BTC/USD 0.019% 0.060% 0.26% 0.18% 8 hours
ETH/USD 0.019% 0.060% 0.30% 0.25% 8 hours
EOS/USD 0.019% 0.060% 0.20% 0.07% 8 hours
LTC/USD 0.019% 0.060% 0.35% 0.55% 8 hours
XRP/USD 0.019% 0.060% 0.15% 0.10% 8 hours
YFI/USD 0.019% 0.060% 0.30% 0.40% 8 hours

 

Is Margex Safe?

Despite being a newly launched platform, Margex takes the safety and security of its clients seriously. The company boasts some of the most sophisticated security features to protect client data, funds, and trading activities. This includes:

  • The use of cold wallet storage
  • Blockchain-based trading platform
  • Price manipulation and fraud prevention

Why Should You Trade On Margex?

The Margex website and trading platform were designed with user-friendliness in mind. Beginners are supported with articles, videos, trading lessons, and price analysis to build an understanding of the space.

This makes Margex an ideal platform for beginners looking to improve their skillset and knowledge as they find their way around the crypto market.

Margex’s liquidity pool system is the first of its kind in the crypto industry. This innovative feature combines over 12 liquidity providers into a single, deep order book, ensuring the best possible entry and exit prices with the thinnest spreads available on the market. 

Add to that the most competitive trading fees in the industry and the advantages are clear.

Security of Funds:

When it comes to depositing or withdrawing funds, Margex has many security features, such as:

  • 2FA authentication
  • Email confirmations for all withdrawals
  • Security questions/phrases
  • Wallet whitelisting
  • 24/7 customer support

Margex Interface:

Logging into the Margex trading platform presents the above screen. From here, accessing the full functionality of your account is an intuitive process driven by the options bar at the top of the page.

Referral Program:

The Margex Referral Program allows you to earn Bitcoin by inviting others to trade on the platform. You get 40% of the fees paid by your referrals. Payouts are made daily into your Margex account. Here’s how to get started:

  • Sign up on Margex
  • Login to your account
  • Go to the ‘REFERRAL‘ tab
  • Scroll down, and you’ll find your referral link, including your unique code
  • Click to copy the link and share it with your friends and other traders  

You will see your statistics on the referral page once your referrals start trading. It also shows the total number of people referred by you, and how much you’ve earned in BTC from those invitees.

Sign up on Margex ㅡ https://margex.com/app/signup

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