Former BitFinex Whale Expects Bitcoin Dump as Price Hits $12K

The high amount of ETH transfers just a month prior to the Merge generated community curiosity, with some claiming it to be a dump while others believe it could be done for staking. An Ethereum (ETH) whale wallet that participated in the Genesis Initial Coin Offering (ICO) and obtained about 150,000 ETH  in 2014 was activated again on Aug. 14 after three years of dormancy.The whale address transferred 145,000 ETH to multiple wallets as Ether price surged to a new 3-month high of over $2,000. The transfers were made in a batch of 5,000 ETH per transaction and a few transfers of over 10,000....

Like penny stocks traded on the NYSE or those on pink sheets, cryptocurrency is a prime target for pump and dump scams. For those with buying power, it's an easy way to get rich quick by inflating the price. For everyone else, nine out of ten times, you will lose. This is one of several reasons people are afraid to trust Bitcoin. For those of you who don't know how the pump and dump works, it's fairly straight forward. They are also illegal in the market, though federal agencies do not actively protect Bitcoin users. Pump and dump scams involve two groups of people. First there are the....

Bitcoin remains range-bound moving around $58,5000 and $60,500 as the general sentiment in the market flips bearish. The benchmark crypto trades at $60,327 with sideways movement in the daily chart. Related Reading | Bitcoin Turns Red, Why Bears Aim A Retest of $55K Only two weeks ago, Bitcoin was blasting through resistance levels in the high around its current levels briefly topping at $69,200. This led to an increase in over-leveraged positions and an increase in funding rates across the BTC derivatives sector that left the market vulnerable to a liquidation cascade. This event led....

The cryptocurrency news cycle was dominated last week by the announcement that Bitfinex was the victim of a theft to the tune of 119,756 BTC. The market continues to struggle with the implications of this event. Drama returned to Bitcoinland last week as Bitfinex was taken for ~120K coins and subsequently the price dropped over $100 on all exchanges. The outcomes of Bitfinex hack. While it initially looked as if they would be able to resume operations within a few days, it now appears as though they might be down for quite some time. Despite the near term hit to price and the logistical....

The Bitfinex hackers have moved thousands of Bitcoins in 2020. Bitcoins (BTC) stolen from major cryptocurrency exchange Bitfinex back in 2016 are on the move again, as hackers shift another massive batch of funds to unknown wallets.According to data from crypto transaction tracking service Whale Alert, Bitfinex hackers moved more than $4.6 million in stolen BTC on Oct. 8. These funds were sent to unknown wallets in two separate transactions of 435 BTC and 8 BTC.But the hackers have moved far more than this amount earlier this week. According to Whale Alert, Bitfinex hackers completed seven....