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The Importance of Security Audits in Cryptocurrency Platforms
In response to the recent hack on WazirX’s systems, Liminal took proactive measures to confirm the security of its infrastructure. Grant Thornton, a leading global auditor, conducted a comprehensive review to assess potential vulnerabilities within Liminal’s platform. The audit found no evidence of compromise in Liminal’s frontend, backend, or user interface, providing peace of mind…
The Downfall of Friend.tech: A Case Study in Mismanagement
Friend.tech, once hailed as a decentralized social media platform with great promise, has hit a rough patch in recent times. The platform has been grappling with stagnation in user growth and a decline in user engagement. This decline in active users has left many in the Friend.tech community questioning the long-term viability of the platform.…
The Current State of Ethereum: Analyzing Potential Price Movements
Despite its popularity, Ethereum remains one of the worst performers among the top cryptocurrencies by market cap. The recent bearish movement in the market has caused the price of ETH to drop, putting many investors in a precarious position. If this trend continues, there is a real possibility that the price of Ethereum could fall…
Analyzing Bitcoin Price Weakness and Potential Value
Bitcoin (BTC) recently experienced a significant price weakness over the weekend, triggered by the release of August nonfarm payrolls (NFP) data. The NFP data fell below analysts’ expectations, causing BTC to plummet by almost 5% and trade below the $54,000 range. This marked its lowest level since early August. Additionally, the broader crypto market also…
The Implications of Bitcoin Rainbow Chart Analysis
Crypto analyst Daan Crypto has recently brought attention to a Bitcoin Rainbow Chart, shedding light on the current price action of the crypto market. Daan Crypto emphasized the importance of Bitcoin holding above the $60,000 mark in order to potentially see a bullish reversal. According to the analyst, breaking above $60,000 could pave the way…
The Sophistication of North Korean Hackers in Cyber Attacks Against the Crypto Industry
The United States Federal Bureau of Investigation recently released a report alerting the public to the “aggressive” attacks being carried out by North Korean hackers against the cryptocurrency industry. These attacks primarily involve the use of sophisticated social engineering tactics that are designed to deceive even those individuals within the crypto industry who are knowledgeable…
The Decline of Ethereum Relative to Bitcoin: Analyzing the Underperformance
When Ethereum transitioned from a Proof-of-Work to a Proof-of-Stake consensus mechanism in 2022, it was expected to usher in a new era of performance and value. However, two years after the Merge, Ethereum has faced significant challenges in maintaining its position relative to Bitcoin. One of the major reasons behind Ethereum’s underperformance is the inflationary…
What Will It Take for Bitcoin Price to Rebound Again?
Bitcoin’s market price has recently fallen to its lowest point since the early August massacre, dipping below $50,000 for the first time since the approval of spot Bitcoin ETFs in the US. The cryptocurrency had previously rebounded from similar crashes, reaching $65,000 weeks later, but the recent trend shows bears regaining control, with the asset…
The Current State of Cardano (ADA): An Analysis
Cardano (ADA) is currently facing a critical resistance level at $0.33, amidst a backdrop of fear and uncertainty in the market. Despite this challenging environment, there are indications that some investors view this as a potential buying opportunity, signaling optimism for a market recovery in the near future. According to data from IntoTheBlock, there is…
A New Era in Seizing Cryptocurrency: The Impact of Recent Legal Cases
In a significant legal development in Scotland, £110,000 has been confiscated from John Ross Rennie, a 29-year-old individual involved in a violent robbery. This milestone case represents the first instance where the proceeds of crime legislation have been utilized to seize cryptocurrency as physical cash. The verdict was delivered at the High Court in Edinburgh,…
The U.S. Federal Reserve Issues Cease-and-Desist Order Against United Texas Bank for AML Violations
The U.S. Federal Reserve has recently issued a cease-and-desist order against United Texas Bank (UTB) due to significant deficiencies in its governance. The central bank specifically highlighted UTB’s failure to adhere to anti-money laundering (AML) laws and its poor risk management related to virtual currency customers and foreign correspondent banking. Following an examination conducted in…
The Life and Work of Opeyemi: A Cryptocurrency Enthusiast
Opeyemi, a skilled writer, has developed a deep interest in the world of cryptocurrencies. Despite not initially choosing the digital asset industry as his primary focus, he has become captivated by its complexities over the last two years. Opeyemi takes pride in creating unique and informative pieces that explore blockchain technology and the latest trends…
The Rise of Whales in the Crypto Market
As the crypto market continues to experience fluctuations and uncertainty, it is interesting to note that large investors, known as whales, are actively participating in various projects. A recent analysis conducted by data intelligence firm Santiment has revealed the top ten crypto projects that have witnessed a substantial increase in whale activity. SuperRare: Leading the…
The Impact of Crypto Market Sentiment on Bitcoin Prices
The recent Bitcoin and crypto market crash has seen prices plunge into the red across the board. As a result, sentiment among crypto investors has plunged rapidly and this has caused the Fear & Greed Index to plunge into the Extreme Fear territory. This suggests that investors are less likely to put money into the…
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