CDS Crypto News Here’s What Happened ın crypto Markets Thıs week? All ın one!
Crypto NewsCrypto Newsletter

Here’s What Happened ın crypto Markets Thıs week? All ın one!

This week in crypto: $400M SIM swap on FTX, Binance freezes Ripple co-founder's wallet, Ether options trading hits records. On a positive note, Fidelity's Bitcoin ETF sees millions, signaling mainstream adoption. Stay tuned for our brief crypto update!

158
Here’s What Happened ın crypto Markets Thıs week? All ın one!

Crypto News- HERE’S WHAT HAPPENED IN CRYPTO MARKETS THIS WEEK?: Crypto Data Space is here again, crypto enthusiasts! This week’s news filled with both thrilling opportunities and stark reminders of the industry’s vulnerabilities. We’ll delve into a $400 million SIM swap attack targeting FTX, Binance freezing millions from a Ripple co-founder’s wallet hack, and the record-breaking surge in Ether options trading. But don’t worry, there’s good news too, as Fidelity’s Bitcoin ETF rakes in millions, signaling mainstream adoption. Stay informed and make informed decisions – stay tuned for our weekly crypto wrap-up!

HERE’S WHAT HAPPENED IN CRYPTO MARKETS THIS WEEK? ALL IN ONE!

THE Breakıng One:

Three implicated in FTX SIM swap attack that stole $400M in crypto

5 Key Points:

  • Three Individuals Indicted: US prosecutors charge Robert Powell, Carter Rohn, and Emily Hernandez with SIM-swap attacks targeting 50 victims, including a major crypto exchange.
  • FTX Hack Link: The indictment suggests the stolen $400 million in crypto could be linked to the November 2022 hack of FTX, which happened shortly after the exchange filed for bankruptcy.
  • SIM Swap Scheme: The trio allegedly impersonated victims, gained control of their phone numbers, and accessed crypto wallets, leading to the theft.
  • Connecting the Dots: Blockchain security firm Elliptic and Bloomberg sources link the Victim Company-1 in the indictment to FTX, based on the timing and amount stolen.
  • Investigation Ongoing: This indictment represents a significant step in the investigation into the FTX hack, but the full scope and potential involvement of other parties remain under investigation.

Binance froze $4.2M of XRP from hack on Ripple co-founder’s wallet

5 Key Points:

  • $4.2M Frozen: Binance froze $4.2M in stolen XRP from the $112M hack targeting Ripple co-founder Chris Larsen.
  • Hacker Tracked: Binance CEO Richard Teng credited sleuth ZachXBT and Ripple for aiding in tracking the hacker.
  • No Mixing Services: Unlike recent exploits, the hacker didn’t use mixers or DEXs, allowing easier tracing.
  • Larsen Accounts Hit: Larsen confirmed personal XRP accounts were compromised, with 213 million XRP stolen.
  • Centralized Exchanges Wary: The exploit highlights increased vigilance by centralized exchanges like Binance against illicit funds.

Fidelity Bitcoin ETF Rakes 208M Dollars

Fidelity’s FBTC ETF saw $208 million inflows on Jan 29th, exceeding GBTC’s $192 million outflows. This marks the first time ever FBTC inflows surpassed GBTC outflows.

GBTC outflows have slowed down significantly, reaching their second-lowest daily outflow on Jan 29th. This suggests investors may be taking advantage of underwater positions.

New US spot Bitcoin ETFs collectively saw $994.1 million volume, double GBTC’s $570 million. This indicates growing interest in these new ETFs.

BlackRock’s IBIT and Fidelity’s FBTC had the highest volume share among new ETFs, capturing 78% of the total. These two ETFs are gaining traction alongside GBTC.

Analysts believe GBTC outflows’ negative impact on Bitcoin price is mostly over. This could signal a positive trend for Bitcoin and the broader crypto market.

Ether Options Market Sets New Records With Trading Volume Peaking At 2,300 Dollars

  • All-Time High ETH Volume: Ether options trading hit a record $20 billion in January, with Deribit contributing $15 billion.
  • Bullish Bets on Ether: Most outstanding options on Deribit are calls at $2,500 expiring on February 23rd, suggesting bullish sentiment.
  • Slight Price Dip: Despite optimism, Ether price dipped 1% to $2,294 in the last 24 hours.
  • Soaring Blockchain Activity: Ethereum transaction volume reached $102.9 billion in January, a 5% increase from December and significantly higher than 2023 levels.
  • Intriguing Landscape: Rising options trading and blockchain activity suggest evolving market sentiment and expectations for Ether in 2024.

OTHER MUST READ CRYPTO NEWS AND TOP READS:

US Government To Auction Seized Silk Road Bitcoin Holdings Worth $130 Million

SEC Chair Suggests Limited Scope For Bitcoin ETF Approvals; Delays Decision On BlackRock’s Spot Ethereum ETF

Google To Allow Advertising Of Spot Bitcoin ETFs And Cryptocurrency Trusts With Updated Policies

HERE’S WHAT HAPPENED IN CRYPTO MARKETS THIS WEEK? ALL IN ONE!

Leave a comment

Leave a Reply

Related Articles

XRP Price Falls Following SEC’s Decision to Cancel Important Meeting With Ripple

XRP's price reversed its Wednesday gains following the SEC's unexpected decision to...

The Dark Side of Cryptocurrency: Shock Claim About Worldcoin from ZachXBT

The Dark Side of Cryptocurrency: Shock Claim About Worldcoin from ZachXBT

Chainbase Raises $15 Million in Series A Funding to Advance Web3 On-Chain Data Infrastructure

Chainbase Raises $15 Million in Series A Funding to Advance Web3 On-Chain...

Craig Wright Denies Being Satoshi Nakamoto, Adds Disclaimer to Website

The Crypto Open Patent Alliance accused Craig Wright of fabricating evidence in...