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North Korea Stockpiles $316 Million in Cryptocurrencies From Cyberattacks – Bitcoin News

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Kevin Helms

A panel of experts at the United Nations says that North Korea has amassed $316 million in cryptocurrencies from various cyberattacks on crypto exchanges and financial institutions. The panel also investigated North Korea’s involvement in the $281 million hack of a crypto exchange.

UN Expert Panel Sheds Light on North Korea’s Cyberattack Activities

A United Nations panel of experts has submitted a draft report reviewing the measures on North Korea to the Security Council’s North Korea Sanctions Committee. Nikkei says it has obtained a copy of the document, noting that it will be made public after discussion and revisions by the council’s board member nations.

The report highlights that North Korea’s “total theft of virtual assets from 2019 to November 2020 is valued at approximately $316.4 million,” citing one unidentified country. North Korea allegedly uses cyberattacks against financial institutions and crypto exchanges to generate money to support its weapons of mass destruction and ballistic missile programs, according to the report.

Moreover, the panel revealed that it investigated malicious activities by North Korea’s primary intelligence agency called the Reconnaissance General Bureau, an entity on the U.N. sanctions blacklist. Its activities include “the targeting of virtual assets and virtual asset service providers, and attacks on defense companies.”

“Preliminary analysis, based on the attack vectors and subsequent efforts to launder the illicit proceeds strongly suggests links to the DPRK [Democratic People’s Republic of Korea],” the U.N. experts said.

In addition, the panel said it is investigating a September 2020 hack against a cryptocurrency exchange during which approximately $281 million worth of cryptocurrencies were stolen. Blockchain data analysis indicates that this hack is related to a second hack in October 2020 where $23 million were stolen. The $281 million hack is believed to be that of cryptocurrency exchange Kucoin.

The report further outlines how North Korea continues to launder stolen cryptocurrencies by exchanging them for fiat currencies, like the U.S. dollar, via over-the-counter (OTC) brokers in China.

In its previous report, the U.N. panel found that North Korea amassed $571 million from hacking crypto exchanges and companies between January 2017 and October 2018.

What do you think about the findings by the U.N. expert panel about North Korea and cryptocurrencies? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Grayscale Adds 174,000 LTC to Its Litecoin Holdings- Price of the Altcoin Unresponsive – Altcoins Bitcoin News

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Terence Zimwara

According to reports, Grayscale added 174,000 tokens to its litecoin holdings in the past month. This haul pushed its total holdings of the altcoin to 1.44 million. Following this acquisition, which represents 80% of all litecoin that were mined in the past month, the total value of Grayscale’s holdings of the altcoin is now just over $248 million.

Grayscale Adds 174k LTC to Its Litecoin Holdings— Price of the Altcoin Unresponsive

However, following the large acquisition by Grayscale Investments, LTC’s price movement appears to be unrelated to changing supply dynamics. For instance, Messari data shows that the altcoin only went above the $200 mark between February 12 and 22. However, since then the price has returned to levels below $200 with February 25 being the only exception. At the time of writing, the token was trading at just above $190.

Grayscale Adds 174k LTC to Its Litecoin Holdings— Price of the Altcoin Unresponsive

In the meantime, on Twitter, some users are questioning the altcoin’s failure to pump following Grayscale’s massive buying. For instance, one Twitter user, Carolyn Bamberger asks why the price has not pumped. In response, the Litecoin team said:

Large orders like these are usually purchased through an OTC desk as to not immediately impact the market. Some speculate that due to this the supply shock may be delayed.

Still, other users remain unconvinced with this explanation, while a few supporters believe that a price spike will happen soon.

Grayscale Adds 174k LTC to Its Litecoin Holdings— Price of the Altcoin Unresponsive

In the meantime, according to data shared by the Litecoin team, in the same period, Grayscale added over 243,000 ETH. This addition meant that as of March 1, 2020, Grayscale held a total of 3.17 million ETH tokens that are valued at around $4.86 billion.

In contrast, only 7,169 BTC were added to Grayscale’s biggest holdings thus bringing the investment company’s total holdings of the crypto asset to over 655,640 bitcoins.

What are your thoughts on Grayscale’s purchase of LTC? Tell us what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could – Economics Bitcoin News

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Jamie Redman

The creator of the notorious stock-to-flow model (S2F), Plan B has recently detailed that the price of bitcoin has surpassed the S2F model price by 26%. The strong momentum has a number of crypto enthusiasts thinking that bitcoin prices reaching the $100k to $288k range by the year’s end is possible.

Price of Bitcoin 26% Higher Than S2F Trajectory

Plan B’s stock-to-flow model otherwise known as (S2F or S2FX) is a popular chart that measures the existing number of BTC in circulation (stock) and pairs it against the number of issued coins minted during mining (flow).

To many crypto enthusiasts, the S2F model so far has been fairly consistent and following along the mapped trajectory Plan B and others have estimated. In November 2020, the S2F creator doubled down and told the public that there was “no doubt whatsoever” in his mind that his S2F model was “correct.”

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could
Plan B shared a chart on Wednesday that shows his S2F model has been “spot on” since he created the S2F model back in March 2019.

At the time, Plan B said that he predicts the price of BTC will “tap $100K-288K before [December] 2021. In fact, I have new data that confirms the supply shortage is real,” he added. On March 1, 2021, Plan B revealed that the S2F model was still working and the price of BTC was actually 26% above the model’s predicted trajectory.

“New orange dot,” Plan B tweeted. “Feb close $45,240 (Jan was $33,141 and current price is $46,500)… like clockwork.” Two days later, Plan B wrote that ever since he drafted the model back in 2019 the prediction has been on point.

He said:

Bitcoin S2F model was published in March 2019. The model’s out-of-sample performance (on new data after Feb 2019) has been spot on.

In another tweet on Wednesday, Plan B criticized the S&P 500. “My most hated chart about bitcoin,” he said, sharing a correlation technical analysis chart. “S&P 500 correlation… S&P $4K and BTC $100K soon?” Plan B asked.

Plan B’s Poll With 53,000+ Votes Shows 37.3% Believe $100k Bitcoin Prices Are Coming, 33.1% Think That $288k Prices Are Possible

On February 26, the S2F author also held a poll on Twitter and the survey received 53,860 votes. Plan B’s Twitter survey poll asked: “Do you think bitcoin will reach $500K, $288K (S2FX model) or $100K (S2Fv2 model) before December 2021 .. or will BTC stay below $100K?”

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

The poll had shown that 37.3% or the majority of participants think BTC will reach $100k. A touch less 33.1% thinks that $288k BTC prices are actually possible. 18.9% of the votes say that BTC will remain under the $100k handle and 10.7% voted BTC could reach $500k per unit.

During the last week, a number of bitcoiners have also been congratulating Plan B for his S2F predictions seemingly coming to fruition. “Stock to flow, quite incredible to see it play out,” one trader said and called Plan B a legend. Although, there’s plenty of S2F naysayers who have criticized Plan B’s stock-to-flow model in the past, but in more recent days S2F haters have been quieter.

Despite the critics, Plan B still seems extremely confident about his prediction and the S2F model as he noted on February 20, 2021, that the price of BTC reached the $55k target that he predicted in March 2019.

“$55k feels very natural and even low now, but back in early 2019 people laughed at [CNBC’s Joe Kernen] for just mentioning the possibility of $55k BTC,” Plan B tweeted that day. The S2F model’s creator also mentioned that the Wall Street Journal also noted that Plan B’s S2F model was on track as it completed the $55k zone last month.

News.Bitcoin.com readers who are interested in tracking the live version of the S2F model can follow the trajectory here.

What do you think about Plan B’s S2F chart and the possibility of $100k to 288k prices in 2021? Let us know what you think about this subject in the comments section below.

Tags in this story
$100K, $288k, Bitcoin, BTC, BTC Prices, Critics, Cryptocurrency, Demand, Fiat, gold, Market Update, model, Modeling Bitcoin’s Value, Plan B, Price Model, report, S2F, S2F model, Scarcity, stock-to-flow, stock-to-flow ratio, Traders

Image Credits: Shutterstock, Pixabay, Wiki Commons, Plan B Twitter, Stock-to-Flow, Twitter,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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ECOMI to List OMI Tokens With BitMax – Press release Bitcoin News

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Bitcoin.com PR

PRESS RELEASE. BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of OMI Tokens (OMI) under the trading pair of OMI/USDT on March 2nd at 9:00 a.m. EST.

ECOMI is leading the way in the mass market digital collectible space. Its app, VeVe, offers the most comprehensive digital collectible experience, with premium format 3D digital collectibles from the world’s leading brands. The OMI token underpins the economy of ECOMI Collect and is needed for the sale and purchase of digital collectibles and other digital goods within the VeVe App.

Digital streaming, gaming, in-app purchasing are all multibillion-dollar markets, and the next one to join this digital trend is the pop culture and collectibles industry. VeVe brings the physical world of collecting into the digital realm and offers collectibles in premium digital format as limited- edition 3D models, which users can place in virtual showrooms, trade or sell on a secondary market, share on social feeds, and view all 3D content in AR.

VeVe works with leading licensors offering digital collectibles from 70+ brands including Batman, Superman, Harley Quinn, Wonder Woman, Ultraman, Back to the Future, NFL, MLB, Ghostbusters, and many more.

With so much happening in the NFT space, BitMax is excited to be listing the OMI token for use in the VeVe app. This listing highlights BitMax’s commitment to supporting the rapid growth of the NFT ecosystem.

 

About BitMax.io

Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from cash to margin trading, derivatives trading, staking products, and other investment solutions.

 

For more information and updates, please visit:

Website: https://bitmax.io/

Twitter: https://twitter.com/BitMax_Official

Telegram: https://t.me/BitMaxioEnglishOfficial

Medium: https://medium.com/bitmax-io

 

About ECOMI

ECOMI is leading the way in the mass market digital collectible space. Their app, VeVe, offers the most comprehensive digital collectible experience, with premium format 3D digital collectibles, from the world’s leading brands.

 

For more information and updates, please visit:

 

Website: https://www.ecomi.com/

Twitter: https://twitter.com/ecomi_

Telegram: https://t.me/ecomi

Medium: https://medium.com/veve-collectibles

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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