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US official says ‘majority’ of bitcoin paid by Colonial Pipeline after ransomware attack has been recovered

U.S. officials said Monday that they have recovered “a majority” of the bitcoin funds paid after a ransomware attack against an American pipeline operator.

The post US official says ‘majority’ of bitcoin paid by Colonial Pipeline after ransomware attack has been recovered appeared first on The Block.

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The U.S. Department of Justice said Monday that they have recovered “a majority” of the bitcoin funds paid after a ransomware attack against an American pipeline operator.

Colonial Pipeline was hit by the ransomware attack in early May, triggering a temporary shutdown and an East Coast gas shortage across U.S. states in that region. It was later confirmed that Colonial paid 75 BTC, or about $5 million at then-current prices. Some of those funds were later sent to crypto exchanges as well as the dark web market Hydra for cash-outs.

On Monday, deputy U.S. attorney general Lisa Monaco said that an operation was conducted Monday to recover some of the funds, amounting to 63.7 BTC, an amount worth approximately $2.26 million. Monaco characterized the amount as “a majority.” The operation was conducted by a task force dedicated to digital extortion and ransomware established in April. 

“After Colonial Pipeline’s quick notification to law enforcement, and pursuant to a seizure warrant issued by the United States District Court for the Northern District of California earlier today, the Department of Justice has found and recaptured the majority of the ransom Colonial paid to the Dark Side Network in the wake of last month’s ransomware attack,” Monaco said during a press conference.

According to a partially redacted court affidavit, the FBI traced transactions on the bitcoin blockchain following the payment by Colonial Pipeline through May 27, when some 63.7 BTC sent to one particular address, called the Subject Address in the document. The FBI has taken possession of the private key for this address, but the process by which it did so is unclear.

U.S. officials, including those in the Biden White House, have become increasingly vocal about ransomware — and cryptocurrency — in recent days. Earlier this month, a White House press official identified “expanding cryptocurrency analysis” as part of a broader focus on ransomware.

On Monday, National Security Advisor Jake Sullivan said the topic would be up for discussion during an upcoming G7 meeting.

In her remarks, Monaco issued a warning to U.S. companies about the threat to their operations.

“Pay attention now. Invest the resources now. Failure to do so could be the difference between being secure now or a victim later,” Monaco said.

This is a developing story and more details will be added as information is obtained.

Gov.uscourts.cand.379840.1.0 by MichaelPatrickMcSweeney on Scribd

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Source: https://www.theblockcrypto.com/linked/107496/us-official-says-majority-of-bitcoin-paid-by-colonial-pipeline-after-ransomware-attack-has-been-recovered?utm_source=rss&utm_medium=rss

Blockchain

El Salvador And Bitcoin: Jack Mallers Reveals The Inside Scoop

It might be the biggest story of 2021. Since El Salvador made Bitcoin legal tender, all eyes are on the Central American nation. Strike’s Jack Mallers was the person that delivered this world-shattering news. The exclusive closed the Bitcoin 2021 conference in Miami, talk about leaving on a high note.  Related Reading | Bitcoin Incentivizes […]

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It might be the biggest story of 2021. Since El Salvador made Bitcoin legal tender, all eyes are on the Central American nation. Strike’s Jack Mallers was the person that delivered this world-shattering news. The exclusive closed the Bitcoin 2021 conference in Miami, talk about leaving on a high note. 

Related Reading | Bitcoin Incentivizes Green Energy Infrastructure And Elon Agrees. Here’s Proof

Why was this young man the messenger? Well, that’s the story we’re here to summarize. Mallers was the guest in a recent episode of the “What Bitcoin Did” podcast and revealed the in and outs of this potentially world-changing event. As you might suspect, it all started in the Bitcoin Beach community way before Mallers arrived. In fact, in part, he went to El Salvador to check out the project.

El Salvador Makes Bitcoin Legal Tender, Chronology Of Events

  • In late February/ early March, Jack Mallers arrived at Bitcoin Beach. He wanted to “understand what was happenning.”
  • He lived in El Zonte for a month, at first. “I want to give Bitcoin Beach all the credit. They’re the reason I went to El Salvador.” 
  • Then he went to San Salvador. Strike was all over the news. Remittances are a big thing in El Salvador and their service does them for free by using the Lightning Network.
  • He got a Direct Message through Twitter. It was from President Bukele’s brother. He was scared at first. He didn’t know if he was in trouble. They wanted a meeting.
  • He tried to push the meeting a week. They got into a message exchange about the lack of financial inclusion in the country. The presidency saw Bitcoin as an integral part of the world’s future. They thought El Salvador was uniquely positioned to take the first step.
  • The presidency pushed the meeting for the next day. Jack Mallers was still scared. He went with a friend and had another one waiting to call the U.S. Embassy if something went wrong.
  • He went. He and President Bukele’s brother talked about financial inclusion, open networks, free markets. How the existing financial system is broken. And about how Bitcoin could play a role in improving the country and improving the world. 
  • They met a few more times and exchanged ideas about Bitcoin.

Jack Mallers Goes Back To The U.S. And Then

  • Two days later, the presidency calls him and tells him they’re going to make Bitcoin legal tender. They want to rebuild the country’s financial infrastructure and be a representation for the entire world. 
  • He went back to El Salvador. They talked every day, he advised them on the bill, implementation, and why it had to be Bitcoin only. 
  • Jack Mallers gives credit to a lot of Bitcoiners in the space. He called them and asked for advice. Mallers doesn’t give out the names because they might want to remain anonymous. 
  • He advised that they should use the Bitcoin standard. Other coins will introduce slippage and inflation to the system, “You want to subscribe to a hard money monetary policy that’s defended by a distributed network. And not exposed to any central point of failure, and that’s Bitcoin.”
  • He left the country to go to Indianapolis for another little project he was working on.
  • The presidency of El Salvador had the idea of announcing it at the Bitcoin 2021 conference.
  • Jack Mallers goes to Miami. He receives President Bukele’s video the day before his speaking slot at the conference. 
  • He stayed up all night crafting the talk and designing the slides. 
  • Mallers goes to the conference and hosts two panels during the day. 
  • The time comes, he gets on stage and all his notes were gone. Of course. Mallers improvises and gives this speech.

Important Quotes About Strike’s Role In El Salvador

There’s no commercial agreement between Strike and the government of El Salvador.

In fact, I advised and gave my opinion of the opposite. The economies of scale and network effects associated with open networks are so powerful. Just by plugging in to them you’re going to get the freemarket competition that every country would die for.

Related Reading | How El Salvador Embracing Bitcoin Signifies “The Separation Of Money And State”

The reason Jack Mallers went to El Salvador was

To see if Stike can be helpful to solve the remittance problem, and onboard a relatively small country. A country that’s not included in the financial system. A country that is abused by financial intermediaries and financial institutions. And give them access to this new monetary network.

BTCUSD price chart for 06/19/2021 - TradingView

BTC price chart on Bittrex | Source: BTC/USD on TradingView.com

Important Quotes About The Bitcoin Open Network

One of the insights that has to be conceptually understood is that we in Strike view Bitcoin as the best monetary network. In fact, it’s the best monetary network conceived in human history.” 

It’s open. It’s ultimately inclusive to everyone on the planet. It works in the developing world the same as it works in the developed world.

Before we go, know that Peter McCormack filmed the whole sequence of events and has some kind of film coming out soon.

Featured Image by Oswaldo Martinez on Unsplash - Charts by TradingView

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Source: https://bitcoinist.com/el-salvador-and-bitcoin-jack-mallers-reveals-the-inside-scoop/?utm_source=rss&utm_medium=rss&utm_campaign=el-salvador-and-bitcoin-jack-mallers-reveals-the-inside-scoop

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Bitcoin Price Showing Bearish Downtrend Despite On-chain Metrics Indicating Favorable Network Conditions

The price of Bitcoin (BTC) has continued to drop as the premier cryptocurrency stays afloat a price well below its 7-day high of $41,295.27. At present, BTC is down 5.21% to $35,952.61 according to CoinMarketCap, a bearish positioning that negates the current favorable conditions of the Bitcoin blockchain. Since the price of Bitcoin began retracing

The post Bitcoin Price Showing Bearish Downtrend Despite On-chain Metrics Indicating Favorable Network Conditions appeared first on Coingape.

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The price of Bitcoin (BTC) has continued to drop as the premier cryptocurrency stays afloat a price well below its 7-day high of $41,295.27. At present, BTC is down 5.21% to $35,952.61 according to CoinMarketCap, a bearish positioning that negates the current favorable conditions of the Bitcoin blockchain. Since the price of Bitcoin began retracing from its All-Time High price above $64,000, the market trend has witnessed a more passive engagement from retail investors across the board.

This low activity rate is made more evident as Glassnode data showed that the cumulative or total fees paid on transactions in the network have attained their lowest level of 1.390 BTC in the past one year per a 7-Day Moving Average estimate. Based on a similar trend, the lower fees indicate a lack of congestion by users in the blockchain. 

This trend has its inherent impacts which are both negative and positive. On the negative end, the overall price of Bitcoin is kept low as inconsistent transactions and lack of buy-ups that stir a bullish run is absent. The positivity is best targeted at users as sending funds is now relatively cheaper, and more attractive.

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Investors Back US Traditional Markets: Impact on Bitcoin

Traditional market investors have pumped more than $756 billion in the daily reverse repurchase operation, a move that came after the Federal Reserve boosted interest rates for the traditional market offering. 

Following the meeting of the Financial Open Market Committee (FOMC) held last Wednesday, the interest rate for overnight repurchase agreement was adjusted to 0.05%, better than the 0% it has been, and the interest rate it pays banks on reserves held at the U.S. central bank was also boosted to 0.15%. These increments influenced the recorded inflows.

In tandem, the United States Dollar appreciated against other currencies on Friday, rising 92.70 against top fiat currencies. This may also account for the unrelenting sell-offs in the Bitcoin markets, as an appreciated Dollar is a cogent advantage for the market bears.

Economic policies from market watchdogs have an overbearing impact on Bitcoin and the cryptocurrency ecosystem as a whole. While many market proponents and bulls anticipate a resurgence in price amidst growing fundamentals, the current performance of Bitcoin does not discount the favorable nature of the network at present.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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Dogecoin price analysis: Dogecoin established a low above $0.28, ready to break above $0.30?

TL;DR Breakdown DOGE moved lower yesterday. Support found around $0.28. Bulls are preparing to push DOGE higher. Dogecoin price analysis is bullish for today as the market consolidated overnight after finding support around $0.28. Therefore, we expect DOGE/USD to move higher later today and try to retest the $0.335 mark. The overall market trades with […]

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TL;DR Breakdown

  • DOGE moved lower yesterday.
  • Support found around $0.28.
  • Bulls are preparing to push DOGE higher.

Dogecoin price analysis is bullish for today as the market consolidated overnight after finding support around $0.28. Therefore, we expect DOGE/USD to move higher later today and try to retest the $0.335 mark.

Dogecoin price analysis: Dogecoin established a low above $0.28, ready to break above $0.30? 1
Cryptocurrency heat map. Source: Coin360

The overall market trades with a substantial loss over the last 24 hours. Bitcoin is down by 5.2 percent, while ERthereum around 3.4 percent. The rest of the cryptocurrency market follows this pattern of bearish price action development.

Dogecoin price movement in the last 24 hours

DOGE/USD traded in a range of $0.2805 – $0.3007, meaning a moderate amount of volatility. Trading volume has slightly increased by 19 percent and totals $1.6 billion. Meanwhile, the total market cap stands at $37.8 billion, ranking cryptocurrency in 6th place overall.

DOGE/USD 4-hour chart – DOGE moves lower yesterday

On the 4-hour chart, we can see the Dogecoin price action moving lower yesterday and establishing support around $0.28.

Dogecoin price analysis: Dogecoin established a low above $0.28, ready to break above $0.30?
DOGE/USD 4-hour chart. Source: TradingView

When looking at the Dogecoin price action development over the past weeks we can see that bears are exhausted after a very strong retracement from the $0.73 mark in May. Support was initially found at $0.21 and a quick spike higher was seen from there.

Eventually, Dogecoin found strong support at $0.28 and spiked to $0.45, setting the latest major swing high. From there, DOGE/USD retraced for more than 2 weeks until the $0.28 mark was retested again.

Therefore, we can assume that the $0.28 support still holds and bulls are regaining control over the market. Once the local resistance at $0.30 breaks, we should see a lot more further upside from Dogecoin. 

Alternatively, if the $0.28 mark fails to hold, we can expect Dogecoin to start trading lower again over the next 24 hours and spike towards the previous major low at $0.21.

Dogecoin Price Analysis: Conclusion 

Dogecoin price analysis is bullish as the market reached previous support around $0.28 yesterday and failed to move lower. This means that we should see DOGE/USD push higher over the next 24 hours back above the $0.30 resistance. 

While waiting for further Dogecoin price action development, reads our latest guides on Chinese miners, as well as staking Cardano, and how to cash out Bitcoin.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Source: https://www.cryptopolitan.com/dogecoin-price-analysis-2021-06-19/

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Perlin Price Analysis: Perlin (PERL) conquers $0.130 mark after surging by 140%

TL;DR Breakdown Perlin   – the native token of PerlinX rallied by 140 percent. Average 24-hour trading volumes spiked to $122 million from  $3 million Spike follows the release of registration ledger, staking feature, and BSC-based PerlinX Perlin price analysis : General price overview Perl(PERL)  – the native token of the asset liquidity engine PerlinX […]

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TL;DR Breakdown

  • Perlin   – the native token of PerlinX rallied by 140 percent.
  • Average 24-hour trading volumes spiked to $122 million from  $3 million
  • Spike follows the release of registration ledger, staking feature, and BSC-based PerlinX

Perlin price analysis : General price overview

Perl(PERL)  – the native token of the asset liquidity engine PerlinX rallied by 140 percent, reversing a June 8 low of $0.052 all the way to $0.134. The coin has attracted plenty of investment interest as the average 24-hour trading volumes spiked to $122 million from as little as $3 million.  Perl achieved this milestone in such an untimely time when almost the entire cryptocurrency market is facing a bloodbath. It’s no easy fit for a low-price token to attract such momentum and win the hearts of investors when each coin in the market is competing for investment. 

Well, Perl surprised the crypto community after surging more than 100 – percent following the release of its registration ledger, an attractive staking feature, and the launch of PerlinX on the Binance Smart Chain. These three features will allow users to stake tokens and earn yields on PerlinX. The moving average convergence divergence has marked a bullish cross on the coin’s 1-hour chart, and the RSI is lying within the buying zone. Perl’s price is reaching out for the middle bollinger line and there are high chances of striking several white soldiers on the 4-hour chart and break above the moving average at $0.11.

Perlin price movement in the last 24-hours: Buyers advocating for higher highs

Perlin price has been in the green zone for the last couple of days and holds a lot of promise for both new entrants and established investors. The coin opened the daily trading chart at a price of $0.108, formed several head-with-shoulder patterns before correcting at a daily high of $0.11. Perl price analysis intraday low for today’s daily chart is $0.1010. Buyer volumes are still incoming, as the recent rally is only the beginning of the leg. Traders are more likely to long their position and anticipate higher highs in the coming weeks. 

Perlin
(Source: TradingView)

Perl 4-hour price chart : Volumes of buyers

A long green candlestick has formed on the 4-hour chart with a high at the middle line of the Bollinger at $0.1043 and rejection at $0.1038. This is an attempt by buyers to push the price and form another support above the current major support passing through $0.1035. At the time of writing, Perlin(PERL) is trading at $0.1036 against the US dollar. The Bollinger band is downsloping with an expanding distance between the lower and upper bands, a signal for incoming volumes and trader activity. 

Perlin
(Source: TradingView)

Perlin price analysis conclusion

Perlin has gained popularity around green energy movements and blockchain proponents aiming to implement eco-friendly blockchain solutions. The project’s website says PERL is attempting to decentralize and democratize the bio-economy through tokenization and liquidity pools. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Source: https://www.cryptopolitan.com/perlin-price-analysis/

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