Rumors About Mt. Gox Effect On Bitcoin Resurface, Victims to Receive 150K BTC?
Victims from crypto exchange Mt. Gox hacked could finally see compensation for their lost Bitcoin. Almost a decade after an attack forced the platform to shut down, users began a long litigation process which could be which could bear fruit in the next coming months. Related Reading | Bitcoin Funding Rates Are Climbing As Price Continues To Struggle In the crypto space, people have been following the case due to its potential implications for the Bitcoin market. In 2014, a bad actor managed to steal over 850,000 BTC, Mt. Gox managed to recover around 150,000 BTC which could soon enter....
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Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained.
JPMorgan’s Bitcoin Price Prediction
Global investment bank JPMorgan has revealed its prediction for the long-term price of bitcoin as well as the cryptocurrency’s fair value.
JPMorgan Chase & Co.’s....
The U.S. Federal Trade Commission is refunding about 8,000 victims who lost money from investing in two bitcoin scams. The fraudulent schemes promised that investors could turn their cryptocurrency payments of about $100 into $80,000 in monthly income. Bitcoin Pyramid Schemes’ Victims Get Refunds The Federal Trade Commission (FTC) has started sending refunds to victims of two cryptocurrency investment scams: Bitcoin Funding Team and My7network. According to an announcement by the FTC on Wednesday, the two schemes “falsely promised that participants could earn large amounts of....
The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people have filed a claim to recoup their investments.
Police Return Funds to Crypto Scam Victims
The U.K.’s Greater Manchester Police (GMP) announced Friday that about $5.4 million of the funds seized from an international cryptocurrency scam rumbled by its police officers in July last year have been returned to rightful owners. The announcement details:
Over four million pounds....
Few hedge funds are looking forward to buying into Mt Gox claims as they expect Bitcoin price to appreciate further. The victims of Mt Gox are yet to receive the payouts. While they still wait for closure, hedge fund managers are busy digging for opportunities to make money. The reports indicate that few hedge funds in the United States and Japan are planning to buy the claims from Mt Gox victims with the hopes of capitalizing on the appreciating Bitcoin price in the future. According to a report on one of the leading financial news outlets, at least four different hedge funds have started....
The FBI says alongside regular methods of payment such as wire transfers and prepaid cards, crypto ATMs are also becoming a prominent tool for crypto investment scammers. The Federal Bureau of Investigation (FBI) Miami Field Office has warned that crypto ATMs are emerging as a popular method that scammers use to receive funds from defrauded victims. The information was revealed as part of an Oct. 3 public warning about “pig butchering scams” where scammers pose as long-lost friends or potential romantic partners to swipe money from victims. The scammers “fatten up” their victims by....