Bitrace has uncovered a new scam targeting cryptocurrency traders, involving the misuse of QR codes to steal wallet authorizations. Scammers are luring users with enticing over-the-counter (OTC) trade offers and TRX rewards, native to the Tron protocol, to execute their scheme. The scam begins with fraudsters making a small, seemingly legitimate payment in USDT to … Read more
In recent market fluctuations, crypto whales have strategically leveraged downturns to bolster their holdings, particularly in memecoins like PEPE. After a significant market slump that saw Bitcoin (BTC) and Ethereum (ETH) drop by over 20% and 24%, respectively, PEPE also experienced a 28% decline. This dip, however, provided an opportune moment for savvy investors. On-chain … Read more
In a significant development for the cryptocurrency community, the Canadian trading platform ezBtc and its founder, David Smillie, have been found guilty of defrauding customers of approximately 13 million Canadian dollars ($9.5 million). The British Columbia Securities Commission (BCSC) panel concluded that Smillie misappropriated these funds, using them for gambling rather than the promised cold … Read more
Benjamin Cowen, a prominent crypto strategist, has recently shared insights on the crypto market’s potential trajectory, emphasizing the Federal Reserve’s role in influencing Bitcoin’s performance. According to Cowen, Bitcoin has been on a gradual decline since March, primarily due to the Fed’s strict monetary policies and its hesitance to implement quantitative easing. Cowen highlights that … Read more
In a dynamic week for the cryptocurrency market, several key events and trends have shaped the current landscape. As markets recover from recent turbulence, several significant developments and ongoing issues are coming into focus. This report, in collaboration with market data provider Kaiko, explores the impact of liquidity fragmentation, risk indicators, and Bitcoin’s recent performance … Read more
South Korean authorities have made significant strides in tackling a major cryptocurrency Ponzi scheme, resulting in the arrest and indictment of Byun Young-oh, CEO of tech firm Wacon, and his accomplice, Vice Chairman Yim Mo-Soo. The scheme, estimated to involve over 500 billion won (approximately $366 million), has defrauded thousands, with a significant focus on … Read more
The U.S. Securities and Exchange Commission (SEC) has intensified its crackdown on cryptocurrency fraud with a recent complaint against NovaTech, a company operated by Cynthia and Eddy Petion. The case highlights the increasing regulatory scrutiny in the crypto market as officials work to protect investors from deceptive schemes. Allegations Against NovaTech NovaTech is accused of … Read more
XRP, the cryptocurrency associated with Ripple, is facing a crucial test as it struggles to break through a significant resistance level. Recent trading activity has shown XRP bumping against this key barrier, raising questions about whether bullish momentum can drive a new upward trend. Current Market Analysis As of now, XRP is trading just below … Read more
Ethereum (ETH) has seen a dramatic drop in gas fees, reaching a multi-year low of 0.82 Gwei as of August 11. This significant decline in transaction fees highlights a period of reduced activity on the Ethereum network, coinciding with a broader downturn in the cryptocurrency’s price. Sharp Drop in Gas Fees Recent data from Ultra … Read more
On Monday, a highly anticipated Twitter Spaces interview featuring former President Donald Trump and Tesla CEO Elon Musk drew over a million listeners, as many in the crypto community hoped for significant commentary on the industry. However, expectations fell short when Trump did not address cryptocurrency during the conversation, despite the substantial interest and financial … Read more