Following a close call during the previous crypto winter, Bitcoin miners are now in a fight for survival, investing billions in equipment and consuming energy at unprecedented levels in anticipation of an upcoming update to the digital currency’s code that could impact their profits. The surge in activity is due to the rise of the world’s largest cryptocurrency, fueled by recently launched Bitcoin exchange-traded spot funds, and a quadrennial event called the halving, which is scheduled to take place in April. Bitcoin has more than quadrupled since plunging 64% in…

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Bitcoin fraud continues to plague the volatile cryptocurrency market, providing a haven for fraudsters who employ clever tactics to deceive and exploit users through online scams. Despite this, Bitcoin has experienced a positive trend in recent months, rebounding from its lowest point. According to Bloomberg, on January 2, the price of Bitcoin increased by 3%, surpassing $45,000 for the first time since April 2022. This surge marked a strong start to 2024 for the world’s largest and most well-known cryptocurrency. Additionally, Bitcoin reached a 21-month high of $45,386 earlier in…

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The countdown to January 10th is underway in the crypto world, as digital-money advocates eagerly await the potential redemption offered by a leap into traditional finance after the FTX incident. This optimistic outlook revolves around the possibility of US regulators approving a physically-backed Bitcoin ETF, a decision that must be made by the Securities and Exchange Commission. Among the first applicants are Cathie Wood’s ARK Investment and 21Shares, with over 10 other companies also striving to obtain approval for ETFs that directly hold Bitcoin. If the approval finally happens, it…

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In a remarkable comeback from a turbulent 2022 that led many doubters to anticipate the downfall of digital assets, Bitcoin has experienced a significant surge in value, more than doubling its worth this year. The largest cryptocurrency by market capitalization rose for a third day, pushing the price back to about $35,000, the highest level in about 18 months. Bitcoin fell 64% last year amid industry scandals and bankruptcies. It reached a record close to $69,000 in late 2021. Growing expectations that the U.S. Securities and Exchange Commission will allow…

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The recent fluctuations in the price of Bitcoin, with swings of over 10%, can be attributed to the prolonged scarcity of liquidity in cryptocurrency markets. Market depth remains at its lowest this year, although a recent recovery in trading has been fueled in part by expectations for a Bitcoin exchange-traded fund, FalconX’s research team found. They measure market depth by looking at the average amount of Bitcoin trading within 1 percent of its current price every 24 hours. The drop in overall liquidity was dubbed the “Alameda Gap” by blockchain…

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The founders of Toronto Cash have been charged by the Department of Justice (DOJ) for money laundering and violating sanctions. Last year, the cryptocurrency mixer was accused of laundering more than $7 billion in stolen funds and faced US sanctions. The DOJ now claims that Toronto Cash enabled $1 billion in money laundering, with $455 million being funneled through the mixer by the Lazarus Group, a North Korean cybercrime organization. The charges include conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money…

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Mike Novogratz remains optimistic about Bitcoin’s resurgence, attributing his bullish stance to the influence of a specific individual amidst a tumultuous year of scandals and financial setbacks in the cryptocurrency industry. “The most important thing that happened this year in Bitcoin is Larry Fink,” Novogratz said, referring to the investment titan who is CEO of BlackRock Inc., the world’s largest asset manager. BlackRock got the crypto community excited in June when it applied to set up an exchange-traded fund to track the spot price of Bitcoin — a move that,…

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Amid a decrease in market share, crypto exchanges that facilitate direct transactions between buyers and sellers, eliminating the need for intermediaries like those found on Wall Street, are facing mounting pressure to enhance their services. These so-called decentralized platforms facilitate trading using algorithmic, blockchain-based software known as smart contracts, whereby users retain tokens instead of handing them over to an intermediary institution. Crypto diehards predicted a golden period for peer-to-peer trading venues such as Uniswap and dYdX after the collapse of the FTX exchange last November, which undermined confidence in…

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Barracuda, a cybersecurity company, has revealed a troubling pattern in a new study. It highlights how email scammers are resorting to multiple Bitcoin wallets to extort money from their targets. These fraudsters employ various strategies, such as threatening to expose compromising or illegal content, targeting multiple work email accounts simultaneously, and demanding modest payments of approximately $1,000 USD in Bitcoin. By adopting this method, attackers can evade detection and prevent arousing suspicion among potential victims, security teams, and payment systems. Insights from Columbia University research Barracuda’s findings are based on…

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