Connect with us

Cryptocurrency

Bitcoin and other cryptos fall after Chinese social media site Weibo blocks

Published

on

LONDON, ENGLAND – MAY 30: This photo illustration shows a visual representation of the Bitcoin cryptocurrency on May 30, 2021 in London, England. Bitcoin is a decentralized digital currency that has been used since 2009. (Photo illustration by Edward Smith / Getty Images)

Bitcoin and other major cryptocurrencies continued to fall on Sunday after Chinese social media site Weibo suspended Key Opinion Leaders (KOL), rekindling fears of further action in the country.

The flagship cryptocurrency Bitcoin (BTC-USD) fell more than 4% to $ 36,194 (£ 25,559) and fell as much as $ 35,453 on Sunday.

Ethereum (ETH-USD) – the world’s second largest cryptocurrency by market capitalization – fell 4% to $ 2,716 and the Dogecoin (DOGE) meme token plunged 6% to $ 0.37

Weibo (WB) blocked some crypto influencer accounts on Saturday, Coindesk reported, citing a violation of unspecified laws and Weibo community rules. However, accounts that are not involved in ads from exchanges have not been blocked, according to Chinese crypto journalist Colin Wu.

Chart: Yahoo Finance

Chart: Yahoo Finance

The decline comes despite positive news from El Salvador and Square (SQ) that failed to address investor concerns about regulatory risk in China.

Nayib Bukele, the president of El Salvador, said Saturday that he would make Bitcoin legal tender in the country to make it easier for Salvadorans living abroad to send payments home.

The president tweeted that if passed, the move would open financial services to 70% of non-bank Salvadorans.

Bukele added that he would send the proposed bill to Congress and, if supported, the Central American nation would be the first in the world to officially adopt the digital currency.

The environmental impact of cryptos has been a major concern lately, and North American Bitcoin miners are working to make their energy use transparent through the Bitcoin Mining Council.

U.S. financial services firm Square announced on Saturday that it will be investing $ 5 million in a partnership with blockchain technology provider to build a solar-powered bitcoin mining facility at a blockstream mining location in America.

Tesla (TSLA) boss Elon Musk also sparked a sell-off after saying the electric car maker is giving up its plans to accept Bitcoin as a means of payment due to environmental concerns.

The story goes on

Continue reading: How harmful is Bitcoin to the environment?

Although Bitcoin has no direct link to the real economy, its large fluctuation in value in recent years has led the government to consider regulating the virtual asset and central banks to look for ways to integrate digital currencies.

In April, the Bank of England and the UK Treasury announced that they were considering a potential national digital currency amid growing interest in digital markets.

Dubbed “Britcoin” by the press, the BoE said that every UK digital currency was a new form of digital money that could be used by both households and businesses. It would coexist, rather than replace, cash and bank deposits. Both the BoE and the Treasury Department emphasized that they were only investigating the idea and not committed to the introduction of “Britcoin”.

Continue reading: Elon Musk’s breakup memes shortened Bitcoin’s price rally

Blockchain-based tokens have also seen several price drops recently in response to raid threats across multiple countries.

Last month, China’s Deputy Prime Minister Liu Hu said China would “crack down on illegal securities transactions and severely punish illegal financial activities.”

Hong Kong said that cryptocurrency exchanges must be licensed by its market regulator. According to the new rules, which were announced after months of discussion, only professional investors with a portfolio of more than $ 1 million can use the platforms.

Meanwhile, Iran announced that it would ban the energy-consuming mining of cryptocurrencies after some of its cities were hit by power outages. This may have been due to a drought that had affected hydropower generation, but the cryptocurrency was draining more than 2 GW from its grid every day, the country said.

The Turkish central bank had previously announced in April that it would ban cryptocurrencies for payments. The ban, which came into force at the end of April, prohibits the use of cryptocurrencies and other crypto assets based on distributed ledger technology as payment, be it directly or indirectly.

The global crypto market lost 4.28% in the past 24 hours, according to data provider CoinMarketCap.

Clock: What is bitcoin

Cryptocurrency

McAfee Sees Ransomware-as-a-Service, Cryptocurrency and Internet of Things Threats Surge in Q1 2021

Published

on

SAN JOSE, California – (BUSINESS WIRE) – McAfee Corp. (Nasdaq: MCFE), the device-to-cloud cybersecurity company, today has its McAfee Threats Report: June 2021, which investigated cybercriminal activity related to malware and the evolution of cyber threats in the first quarter of 2021. In the quarter, cyber adversaries shifted from widespread, low-return ransomware campaigns to less customized ransomware-as-a-service (RaaS). Campaigns targeting larger, more lucrative organizations. A proliferation of 64-bit CoinMiner applications drove the growth of cryptocurrency-generating coin-mining malware by 117%. In addition, an increase in the growth of new Mirai-based malware flavors led to an increase in malware targeting Internet of Things systems (55%) and Linux (38%).

“Criminals will continue to evolve their techniques to combine all the tools that will enable them to maximize their cash flow with the minimum of complications and risk,” said Raj Samani, McAfee Fellow and Senior Scientist. “We first saw them use ransomware to force small payments from millions of unique victims. Today we see Ransomware as a Service, which supports many players in these illegal activities that hold organizations hostage and extort massive sums of money for the criminals. ”

Every quarter, McAfee assesses the health of the cyber threat landscape based on in-depth research, investigative analysis, and threat intelligence collected by the McAfee Global Threat Intelligence cloud from over a billion sensors across multiple threat vectors around the world.

Ransomware

Ransomware declined 50% in the first quarter, in part because attackers shifted from broad campaigns targeting many targets with the same samples to campaigns targeting fewer, larger targets with distinct samples. Campaigns that use some type of ransomware to infect many victims and extort payments from them are notoriously “noisy” as hundreds of thousands of systems will detect and block these attacks over time. By launching unique attacks, RaaS partner networks enable attackers to minimize the risk of detection by large corporations’ cyber defenses and then cripple them and blackmail them into high ransomware payments. This shift is reflected in the decline in known ransomware family types from January 19, 2021 to 9 in March 2021.

Despite the high profile attacks by the DarkSide RaaS group uncovered in the second quarter of 2021, REvil was spotted the most in the first quarter, followed by the RansomeXX, Ryuk, NetWalker, Thanos, MountLocker, WastedLocker, Conti, Maze and Babuk tribes.

Coin miner malware

While prominent ransomware attacks have drawn attention to how criminals are using ransomware to monetize their crimes with payments in cryptocurrency, a 117% increase in the prevalence of cryptocurrency-generating coin-mining malware in the first quarter may represent a sharp spike 64-bit CoinMiner applications are returned.

Instead of locking victims’ systems and holding them hostage until cryptocurrency payments are made, the coin miner malware infects compromised systems and silently produces cryptocurrencies by using the computing power of these systems for the criminals who designed and launched such campaigns . The advantage for cyber criminals is that neither the perpetrator nor the victim need to interact. While the victim’s computers may run slower than usual due to the coin miner’s workload, victims may never realize that their system creates monetary value for criminals.

“The insight from the ransomware and coin miner trends should not be that we have to restrict or even ban the use of cryptocurrencies,” continued Samani. “If we have learned anything from the history of cybercrime, criminals defy defenders’ efforts by simply improving their tools and techniques, bypassing government restrictions, and staying one step ahead of defenders. If efforts are made to restrict cryptocurrencies, the perpetrators will develop new methods to monetize their crimes and they only need to be a few steps ahead of governments to continue benefiting. ”

Threats & Victims

General malware threats. In the first quarter of 2021, the volume of new malware threats averaged 688 threats per minute, an increase of 40 threats per minute from the fourth quarter of 2020.

IoT and Linux devices. A large number of new Mirai malware variants led to an increase in the Internet of Things (IoT) and Linux malware categories in the first quarter. The Moobot family (a variant of Mirai) has been observed to be widespread and responsible for several variants of Mirai. These variants exploit all weak points in IoT devices such as DVRs, webcams and internet routers. Once exploited, the malware is hidden on the system, downloads later phases of the malware and connects to the command and control server (C2). If the compromised IoT devices are connected to their botnet, they can be seized to participate in DDoS attacks.

Industry sectors. McAfee saw publicly reported cyber incidents in the technology sector increase by 54% in the first quarter of 2021. Education and finance / insurance followed, increasing 46% and 41%, respectively, while reported incidents in the wholesale / retail and public sectors decreased 76% and 39%, respectively.

Regions. These incidents increased 54% in Asia and 43% in Europe, but decreased 13% in North America. While reported incidents decreased by 14% in the United States, these incidents increased by 84% in France and 19% in the United Kingdom.

Resources:

Via McAfee Labs and Advanced Threat Research

McAfee Labs and McAfee Advanced Threat Research are a leading resource for threat research, intelligence, and cybersecurity thought leaders. With data from over a billion sensors across key threat vectors – file, web, message and network – McAfee Labs and McAfee Advanced Threat Research deliver real-time threat intelligence, critical analysis and expert knowledge to improve protection and reduce risk.

About McAfee

McAfee Corp. (Nasdaq: MCFE) is the device-to-cloud cybersecurity company. Inspired by the power of collaboration, McAfee creates solutions for consumers and businesses that make our world safer. www.mcafee.com

McAfee® and the McAfee logo are trademarks of McAfee, LLC or its subsidiaries in the US and other countries. Other brands and trademarks may be claimed as the property of others.

Continue Reading

Cryptocurrency

bitcoin price: Top Cryptocurrency Prices Today: Bitcoin, Ethereum tank; Dogecoin gains 10%

Published

on

NEW DELHI: The major cryptocurrencies traded mixed on Thursday after this week’s volatility. The mood in the digital token markets remained subdued. Six of the top 10 digital tokens were trading with cuts at 9.30 a.m. IST, while the remaining four, led by Dogecoin, rose between 4 and 10 percent.

After restricting payment channels for trading cryptocurrencies, China is moving towards digital currencies, and its e-CNY could be phased out as early as the 2022 Beijing Winter Olympics. The move is likely to be another dent in crypto trader sentiment.

Bitcoin has been one of the most powerful assets in the world over the past few years. However, even the highest-yielding asset has halved its value after the crackdown on China. Despite its worldwide popularity, the Numero Uno crypto token has been a laggard lately.

For the first time since the market restarted in early May 2021, Bitcoin slipped below the $ 30,000 mark and Ethereum broke the $ 2,000 mark. Since then, both cryptos have shown some recovery that could not be sustained.

“The crypto market in general has dropped from $ 1.7 trillion to $ 1.35 trillion in one week, a decrease of about 20 percent. While many attribute the market collapse to negative news about China’s extension of the Bitcoin mining ban, many analysts and traders believe it will only have a short-term impact on the market, “Zebpay Trade Desk said.

“Sentiment remains pessimistic, but we believe that the expiration date of the Q2 options last week of June, valued at $ 2.3 billion, should allow price consolidation as soon as it comes through. We say this because we believe most expectations are already factored in and therefore we see a relatively quiet period in the next few days, “she added.

Charles Hoskinson, the co-founder of Ethereum, has said that Dogecoin is a reasonable target for someone to fix it and make it an interesting cryptocurrency.

Tech View of Giottus Cryptocurrency Exchange

Speckle

Polkadot (DOT) is currently one of the stronger altcoins. Over the past six months, the price, market capitalization, and general reputation of both the coin and the polkadot chain have outperformed other coins during and after slumps. The support levels have shown exceptionally high buying volumes and low selling volumes.

DOT exactly follows the price action of Bitcoin (BTC). Assuming BTC is trading sideways, DOT is expected to follow technical analysis and trend lines. Currently, the DOT is in a descending wedge, which is a short-term bearish and a long-term bullish pattern. Breaking the triangle can be very bullish and in a few weeks it could even test its ATH resistance if market sentiment holds up.

ETMarkets.com

Main stages

Support: $ 15.4, $ 13.1, $ 10.4

Resistance: $ 17.5, $ 19.6, $ 23.4, $ 26.8

Ripple

Ripple (XRP) has been in the spotlight since its SEC lawsuit and has lost nearly 70 percent of its value since December 2020. Every hearing affects its price history and has been in a declining wedge lately with the potential to drop as low as $ 0.3. However, support will be seen at multiple levels within this wedge – specifically at $ 0.583 and $ 0.455.

However, given the descending wedge, there is a high chance that XRP could break out and recover soon. This also depends on the SEC lawsuit failing in Ripple’s favor.

RippleETMarkets.com

Main stages

Support: $ 0.583, $ 0.455, $ 0.424

Resistance: $ 0.787, $ 0.925, $ 1.063

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position in any of the above assets.)

Continue Reading

Cryptocurrency

Lloyds Auctions Australia Sells a Pricey Caravan for Cryptocurrency – Bitcoin News

Published

on

Australia’s Lloyds Auctions now accepts major cryptocurrencies for all items offered on its marketplace. Within hours of the announcement, the auction house managed to sell an expensive mobile home (camper / trailer) to a bidder who was happy to pay full price with digital coins.

Australian auction house Lloyds Auctions accepts crypto from bidders

Against the backdrop of volatile crypto markets in the past few days and weeks, investors have been looking for ways to cash out profits or transfer some of their assets elsewhere. Lloyds Auctions, a leading auction house in Australia, has discovered an opportunity to attract some of this funds and offer bidders the ability to pay with cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Lloyds Auctions Australia is selling an expensive caravan for cryptocurrency

Just hours after opening the alternative payment option, Lloyds Auctions was able to sell a custom built trailer valued at $ 75,000 for crypto. “As a longtime sponsor of Lloyds, I didn’t hesitate and couldn’t believe how easy it was for me to pay with cryptocurrency,” the zealous buyer from Zdnet is quoted as saying. “The seller would have received it in cash and never knew the difference!”

Crypto owners want to buy vintage cars and bulldozers

Since the caravan was sold, the auction house has registered growing interest from other crypto owners, especially in its classic car and earthmoving machine auctions. Inquiries have been received, said Lee Hames, chief operations officer of Lloyds Auctions, who also commented:

We have seen people use this to segregate cryptocurrencies and reinvest in real assets. When prices go down, people take some profits off the table and transfer them to something like a vintage car or bulldozer and put them to use.

Lloyds Auctions has also decided that blockchain is the best way to prove possession of a series of negatives that capture moments in Australian history. At the beginning of June, the auction house announced that it would mint a non-fungible token (NFT) for a collection of original glass plate negatives from over 140 years of operation by the Rose Stereograph Company. The highest bidder in the auction also receives the NFT.

Have you bought auction items with cryptocurrency? Let us know in the comment section below.

Tags in this story

Auction house, Australia, Australians, bidders, bids, Bitcoin, BTC, buyers, caravans, cars, crypto, crypto owners, crypto investors, crypto payments, crypto prices, cryptocurrency, ETH, Ethereum, investors, Lloyds Auctions, purchase , Sale, seller

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation to make an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Continue Reading
Advertisement

Trending