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China Could Roll Out Its CBDC Without Anyone Realizing

Ledger’s Glen Woo believes that China’s central bank digital currency could be deployed using existing payment rails without citizens noticing the change.

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Hackers Donate Stolen Bitcoin Worth $20,000 to Two Non-Profit Organizations

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In what seems to be a case of black hat hackers masquerading as the internet’s self-professed Robin Hoods, two charitable organizations have received mysterious bitcoin donations from a cybercriminal group.

The generous gesture is worth 0.88 BTC (around $10,000), with the donating hackers wanting to “make the world a better place.”

Hacking Corporations To Give Back To The Society?

As per the latest report published by BBC, this altruistic act of benevolence coming from online perpetrators has left cyber-crime experts puzzled. And why not? This Robin Hoodesque act move is a first and doesn’t at all follow the MO (read modus operandi) pattern of Darkside hackers.

Two charities – The Water Project and Children International, have indeed received bitcoin donations worth $10,000 (0.88 BTC) each. The online robin hoods shared the receipts for the same on the dark web.

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Receipts of Hackers Donating 0.88 BTC to Two Charities (each).

Children International has expressed objection towards this donation and has said that they will not accept it. Speaking to BBC, a spokesperson representing the non-profits said:

If the donation is linked to a hacker, we have no intention of keeping it.

The hackers probably knew that the charities would not approve of their ‘giving back to the society’ gesture. In a recent blog post, they wrote:

We think that it’s fair that some of the money the companies have paid will go to charity.

No matter how bad you think our work is, we are pleased to know that we helped changed someone’s life. Today we sended (sic) the first donations.

What Do The Cyber Crime Experts Think Of This Bitcoin Donation?

For experts like Brett Callow, this act of hacker benevolence didn’t add up. He says that the concrete motivation for slipping a part of ransomware bounty to charities is not clear at all. The intentions of the hackers behind this act are equivocal and unusual.

What the criminals hope to achieve by making these donations is not at all clear. Perhaps it helps assuage their guilt? Or perhaps for egotistical reasons they want to be perceived as Robin Hood-like characters rather than conscienceless extortionists.

Whatever their motivations, it’s certainly a very unusual step and is, as far as I know, the first time a ransomware group has donated a portion of their profits to charity.

Hackers Used The Giving Block To Donate BTC

As per the revelation, hackers leveraged the cryptocurrency donation facilitating platform, The Giving Block (TGB), to make the bitcoin donations. Because the platform allows anyone with BTC/crypto (ETH, LTC) funds to donate anonymously. Data reveals that 67 charities use the firm’s service to receive bitcoin and crypto donations.

It turns out that TGB was not really aware of the source of these bitcoin funds. In an interview regarding the matter, TGB assured to return the donated BTC to their rightful owners. If they found out that hackers made those donations. They said:

We are still working to determine if these funds were actually stolen.

If it turns out these donations were made using stolen funds, we will of course begin the work of returning them to the rightful owner.

TGB added:

The fact they used crypto will make it easier, not harder, to catch them.

Anonymous Donations From Illicit Sources Point To Money Laundering: Chainalysis

Philip Gradwell, a cryptocurrency investigator working with Chainalysis, also commented on this case. He said that anonymous BTC/crypto donations are questionable, as they pave the way for rampant money laundering. Especially if bad actors make those donations.

He impressed upon the fact that law officials have developed a certain proficiency in tracking the movement of crypto funds from wallet to wallet. But it is quite difficult to figure out who actually owns the wallet. And that’s why Philip feels that:

All crypto-currency businesses need a full range of Anti-Money Laundering measures including a Know Your Customer (KYC) program of basic background checks, so that they can understand who is behind the transactions their business facilitates.

As for non-profit organizations, they despised the idea of hackers making donations from ill-gotten funds. They would not be comfortable and would never ‘knowingly’ accept funds from spurious sources. That’s what they told BBC.

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Source: https://cryptopotato.com/hackers-donate-stolen-bitcoin-worth-10000-to-two-non-profit-organizations/

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Ripple Price Analysis: XRP Crashes To 3-Month Low Against Bitcoin, What’s Next?

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XRP/USD – Bulls Remain Inside Symmetrical Triangle Pattern

Key Support Levels: $0.237, $0.23, $0.228.

Key Resistance Levels: $0.251, $0.261, $0.271.

XRP has not been outperforming over the past seven days, but it remains inside the boundaries of a symmetrical triangle. The coin failed to break the upper boundary last week, which caused it to head into the support at the lower boundary.

It rebounded at the lower boundary but has struggled to remain above the 100-days EMA at around $0.243. XRP spiked higher yesterday and over the past hours, but the bears have banded together to suppress the price beneath the 100-days EMA.

The next direction for XRP will be dictated by the direction in which price breaks the symmetrical triangle, as shown in the following chart. A break toward the upside would result in XRP heading higher toward $0.26, but a break to the downside could see XRP heading back toward $0.215.

xrpusd-oct20
XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, the first level of resistance is located at the 100-days EMA. Above this, resistance lies at the upper boundary of the triangle, at around $0.251, where the bearish .382 Fib Retracement level lies.

Above this, resistance is located at $0.261 (bearish .5 Fib Retracement), $0.271 (bearish .618 Fib Retracement), and $0.28 (1.414 Fib Extension).

On the other side, the first level of support lies at the lower boundary of the triangle. Beneath this, support lies at $0.237 (200-days EMA), $0.23, and $0.228 (.618 Fib Retracement).

From a technical standpoint, the Stochastic RSI has produced a bullish crossover signal in oversold territory, which could lead to some positive momentum.

XRP/BTC – Is XRP Heading Beneath 2000 SAT?

Key Support Levels: 2050 SAT, 2022 SAT, 2000 SAT.

Key Resistance Levels: 2100 SAT, 2142 SAT, 2200 SAT.

XRP struggles heavily against Bitcoin after it dropped beneath the 2100 SAT level today to create a fresh 3-month low at the 2057 SAT level. The last time XRP/BTC was at that low was on July 28, 2020.

At the start of October, XRP attempted to push higher against BTC but was stalled by the 200-days EMA at around 2400 SAT.

From there, XRP headed lower throughout the month to reach 2057 SAT today, and it is likely to head further still.

xrpbtc-oct20
XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Looking ahead, the first level of support lies in the 2050 SAT area (downside 1.414 Fib Extension). Following this, support lies at 2022 SAT, 2000 SAT, and 1975 SAT.

On the other side, the first level of resistance now lies at 2100 SAT. Above this, resistance is expected at 2142 SAT, 2200 SAT, and 2250 SAT.

Both the RSI and Stochastic RSI are in extremely oversold territory, suggesting that the sellers are slightly overextended at this point.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/ripple-price-analysis-xrp-crashes-to-3-month-low-against-bitcoin-whats-next/

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Bitcoin Price Will Skyrocket as Markets Riddled by Election Uncertainty, Analyst Says

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Octavio Marenzi, founder and CEO of capital markets consultancy firm Opimas LLC, recently predicted that the current economic situation will shoot Bitcoin’s price “through the roof.”

Simultaneously, he suggested that the traditional financial markets will suffer as the COVID-19 fears grow.

Opimas CEO: Bitcoin Will Shoot Through The Roof

Appearing on RT’s Boom Bust, Marenzi was asked about the current state of the financial world and his prediction by the end of the year. He seemed somewhat cautious in providing precise numbers. Nevertheless, the CEO of Opimas outlined four factors that he believes drive the markets now.

According to Marenzi, those are the growing spread of the coronavirus, the stimulus deal proposed by the US government, the Federal Reserve’s policy, and the 2020 US presidential elections. He emphasized the importance of the upcoming vote as “people are starting to get nervous about that.”

The elections’ unknown developments could lead to a “messy” outcome, resulting in even more concerns among investors. Such circumstances could prompt severe price drops within traditional financial assets. However, Bitcoin might emerge as the winner.

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“There’s a substantial chance that it’s going to be a contested election and will be very, very messy indeed. We will see the markets overall trending down, while things like Bitcoin shooting through the roof.”

Opimas CEO Octavio Marenzi
Opimas CEO Octavio Marenzi. Source: CNBC

COVID-19 Second Wave To Damage The Markets?

Once reports started emerging in early 2020 that a new virus coming from China was infecting people, the financial world took a beating. The worst came in mid-March during the so-called liquidity crisis, which saw massive price slumps among all assets.

The markets have mostly recovered since then, but the COVID-19 pandemic hasn’t disappeared. In fact, it seems that the dreaded second wave has just begun to develop. The number of confirmed cases grew above 40 million on Monday.

Several countries, mostly in Western Europe, have brought back some of the strict restrictions. Those include even full lockdowns.

Apart from health concerns, this also raises worries among investors. Bitcoin was not exempt from the first price drops, as it plummeted by over 50% in a day.

However, BTC is among the best-performing assets on a yearly-scale, with its 65% increase. Should Marenzi’s words materialize, the primary cryptocurrency could see even further long-term price appreciation.

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Source: https://cryptopotato.com/bitcoin-price-will-skyrocket-as-markets-riddled-by-election-uncertainty-analyst-says/

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