Paraguayan authorities detected and shut down an illegal bitcoin mining farm that had over 2,700 miners connected directly to the country’s power grid. The operation, carried out in the city of Saltos de Guaira and situated near a national power facility, was deemed by authorities as the largest operation of its kind. Paraguayan Authorities Bust […] Original
The recent price action of Ethereum has not been so much of a breeze. The second-largest cryptocurrency by market cap experienced a surge that nearly reached its all-time high, only to be met with a sharp reversal, leaving long traders licking their wounds. Related Reading Bulls Take A Hit, But Sentiment Remains Positive The past few days have seen a significant decline in Ethereum’s price, dropping from $3,880 to around $3,735. This has resulted in substantial liquidations for long traders, exceeding $55 million in the last three days compared to…
A risk assessment conducted by the U.S. Treasury Department found that non-fungible tokens (NFTs) and related platforms are highly susceptible to use in fraud and scams. The risk assessment also warns that criminals can exploit NFTs to launder illicit proceeds or “obfuscate the source of funds.” NFTs Likely to be Used in Fraud and Scams […] Source CryptoX Portal
Trump was found guilty on Thursday by a New York jury on all 34 counts. He was accused of falsifying business records, becoming the first former president to be convicted in U.S. courts. Trump pleaded not guilty and said he will “keep fighting until the end,” according to the BBC. Source
Fintech company Innopolis Tech controlled by a former minister of communications of Russia is set to build the largest Bitcoin mining center in Russia worth around $100 million. The Republic of Tatarstan is gearing up to build Russia‘s largest Bitcoin mining infrastructure valued at around $100 million investments, according to local news reports, citing Roman Shaykhutdinov, a deputy prime minister of Tatarstan. Speaking at a crypto forum in Kazan, Shaykhutdinov said the project will be undertaken by Innopolis Tech, a fintech company controlled by Nikolai Nikiforov, Russia’s ex-communications and press…
The 50-day simple moving average marks major support at $64,870. Source
The head of blockchain analytics firm CryptoQuant Ki Young Ju says the current volatility and on-chain activity resembles the timeframe when Bitcoin was trading at $10,000. According to Ki Young Ju, the current landscape of Bitcoin‘s price development resembles that of the mid-2020 timeframe, during which the largest cryptocurrency by market value remained around the $10,000 mark for several consecutive months before surging beyond the $60,000 mark. In an X post on May 31, the CryptoQuant CEO noted that despite the relatively low price volatility, on-chain activity remains robust, with…
An Indian police officer has been arrested for siphoning off INR 1.8 crores worth of Bitcoin, approximately $216,000, related to a crypto scam investigation. Per a local report, Chandrahar SR, a former police inspector with the Central Crime Branch (CCB), illegally accessed the Bitcoin wallet of a hacker, which was evidence in an ongoing investigation. The crypto scam being investigated dates back to 2017. Srikrishna Ramesh, a hacker, and his associate Robin Khandelwal were the masterminds behind the scam. The duo hacked cryptocurrency exchanges like Bitfinex, Unocoin, and other online…
Toncoin serves as the native token of the TON ecosystem and has multiple use cases. The token like other native tokens such as Solana (SOL) and Ethereum (ETH) has been doing well, as it experienced a notable price rise, especially with the launch of Notcoin (NOT) recently. Based on TON’s past price movements, the token has successfully formed a Double-Top chart pattern, which is typically followed by a price decline. With a 10% decrease in the past day’s trading volume to $152 million the price of TON is indicating a…
Ripple’s recently published 2023 Trends in Regional Payments ebook highlights the transformative role of cryptocurrencies and Central Bank Digital Currencies (CBDCs) in the global payments landscape. Latin America is witnessing a digital transformation with a shift towards crypto-powered solutions and CBDCs, despite resistance from sector incumbents. In Africa, crypto-enabled payments are enhancing accessibility and affordability, […] Source CryptoX Portal