💰 Mt.Gox may have started repaying creditors, based on a Bitcoin transfer volume chart for tokens last moved during the past seven to ten years shared by @caprioleio.
Bitcoin immediately fell 4.6%, breaking through the important $60,000 support level 📉
Bitcoin immediately fell 4.6%, breaking through the important $60,000 support level 📉
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❗️The Most Popular Scam Method in the Second Quarter ❗️
👀 The most common way cryptocurrency users were scammed was through the honeypot scheme. 🍯🧸 In this scheme, investors are lured into buying useless and illiquid assets that cannot be sold. 🤷
Scammers create a smart contract and entice victims with promises of high returns, aggressively pushing them to buy. After purchasing the asset, users see the price rising and are in no rush to sell.
However, when they eventually decide to sell, they discover that selling the tokens is impossible. The scammer then withdraws the victims' funds. Even experienced investors often fail to recognize honeypot schemes. 🤔
👀 The most common way cryptocurrency users were scammed was through the honeypot scheme. 🍯🧸 In this scheme, investors are lured into buying useless and illiquid assets that cannot be sold. 🤷
Scammers create a smart contract and entice victims with promises of high returns, aggressively pushing them to buy. After purchasing the asset, users see the price rising and are in no rush to sell.
However, when they eventually decide to sell, they discover that selling the tokens is impossible. The scammer then withdraws the victims' funds. Even experienced investors often fail to recognize honeypot schemes. 🤔
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📉 Bitcoin continued its decline - overnight, at one point, the cryptocurrency's price dropped below $58,000.
Over the past day, traders' positions worth $262 million have been liquidated. 🪓🩸
👀 But here's the interesting part. On June 24, when Bitcoin last dropped below $60,000 (and did not fall below $58,000 at that time), the Fear & Greed Index plummeted to 30, an extremely low value. Currently, the index stands at 44, still in the fear zone, but the market is now more confident, which is somewhat surprising, especially considering the massive movements of Bitcoin, possibly indicating rapid compensation payments to victims of the Mt.Gox hack. 🤔
Over the past day, traders' positions worth $262 million have been liquidated. 🪓🩸
👀 But here's the interesting part. On June 24, when Bitcoin last dropped below $60,000 (and did not fall below $58,000 at that time), the Fear & Greed Index plummeted to 30, an extremely low value. Currently, the index stands at 44, still in the fear zone, but the market is now more confident, which is somewhat surprising, especially considering the massive movements of Bitcoin, possibly indicating rapid compensation payments to victims of the Mt.Gox hack. 🤔
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📊 Glassnode has identified key levels that could propel Bitcoin out of apathy and initiate a new movement.
🔍 Experts believe that a breakthrough above $64,000 could lead to significant gains for short-term investors, acting as a catalyst for further price increases.
Analysts also highlighted a strong directional price movement amidst historically high volatility compression.
📈 According to their research, conditions for sustaining a bullish market remain, especially if the price holds above the key support level around $50,000. Under these conditions, the market will remain in a phase of enthusiasm, with substantial growth potential contingent upon the stability of these factors. 🧐
🔍 Experts believe that a breakthrough above $64,000 could lead to significant gains for short-term investors, acting as a catalyst for further price increases.
Analysts also highlighted a strong directional price movement amidst historically high volatility compression.
📈 According to their research, conditions for sustaining a bullish market remain, especially if the price holds above the key support level around $50,000. Under these conditions, the market will remain in a phase of enthusiasm, with substantial growth potential contingent upon the stability of these factors. 🧐
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👥 The Friend․tech app, at the request of the community, remains on the Base network.
Additionally, protocol fees for BunnySwap, Clubs, and v1 smart contracts have been disabled, and 100% of the collected fees will be distributed to traders, liquidity providers, and community club presidents. 🧐
We previously wrote that the developers of Friend.tech announced their intention to leave Base, but this was met with sharp criticism from the community and led to a drop in the price of the $FRIEND token 🐰
Additionally, protocol fees for BunnySwap, Clubs, and v1 smart contracts have been disabled, and 100% of the collected fees will be distributed to traders, liquidity providers, and community club presidents. 🧐
We previously wrote that the developers of Friend.tech announced their intention to leave Base, but this was met with sharp criticism from the community and led to a drop in the price of the $FRIEND token 🐰
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Significant transactions continue to occur in the cryptocurrency world 💵
👀 An unknown user transferred 76 bitcoins to a new wallet, which had remained untouched since February 2012. More than 12 years ago, they accumulated 118 bitcoins, which were worth about $600 at an exchange rate of around $5 per BTC. 🙀 Today, the 76 coins sent from the wallet are valued at $4.47 million. 💰
🇩🇪 Additionally, the German authorities have moved over 3000 confiscated bitcoins, worth approximately $173 million, from a controlled wallet, according to Arkham. Of these, 1300 BTC ($75.5 million) were sent to the Bitstamp, Coinbase, and Kraken exchanges, while 1700 BTC ($99 million) were transferred to an unmarked external wallet. 🧐
The wallet still holds over 42,000 bitcoins, valued at around $2.44 billion.
📉 Meanwhile, Bitcoin continues its decline and has again fallen below $58,000, reaching $57,200 at one point. 🤷
👀 An unknown user transferred 76 bitcoins to a new wallet, which had remained untouched since February 2012. More than 12 years ago, they accumulated 118 bitcoins, which were worth about $600 at an exchange rate of around $5 per BTC. 🙀 Today, the 76 coins sent from the wallet are valued at $4.47 million. 💰
🇩🇪 Additionally, the German authorities have moved over 3000 confiscated bitcoins, worth approximately $173 million, from a controlled wallet, according to Arkham. Of these, 1300 BTC ($75.5 million) were sent to the Bitstamp, Coinbase, and Kraken exchanges, while 1700 BTC ($99 million) were transferred to an unmarked external wallet. 🧐
The wallet still holds over 42,000 bitcoins, valued at around $2.44 billion.
📉 Meanwhile, Bitcoin continues its decline and has again fallen below $58,000, reaching $57,200 at one point. 🤷
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Hong Kong Criminals Demand 660,000 USDT for Child’s Ransom
🥷 On July 3rd, a group of individuals orchestrated the kidnapping of a three-year-old boy from a shopping mall in Hong Kong, demanding a ransom of 660,000 USDT. 🙀 Local media reports confirm the incident.
The abduction was captured on surveillance cameras, showing a man leading the child away while covering his mouth with a cloth. 😡
👺The kidnappers then contacted the boy's parents via Telegram, urging them not to call the police “for the safety of the child.” To secure the boy’s release, the criminals demanded the parents buy USDT “on the over-the-counter market” and transfer the funds to their wallet.
🕵️♂️ Police officers from the Organized Crime and Triad Bureau took on the investigation, although it is unclear who informed them about the kidnapping.
👮♂️On the morning of July 4th, authorities reported the successful arrest of two suspects and the rescue of the child. The police have not yet released further details.
🥷 On July 3rd, a group of individuals orchestrated the kidnapping of a three-year-old boy from a shopping mall in Hong Kong, demanding a ransom of 660,000 USDT. 🙀 Local media reports confirm the incident.
The abduction was captured on surveillance cameras, showing a man leading the child away while covering his mouth with a cloth. 😡
👺The kidnappers then contacted the boy's parents via Telegram, urging them not to call the police “for the safety of the child.” To secure the boy’s release, the criminals demanded the parents buy USDT “on the over-the-counter market” and transfer the funds to their wallet.
🕵️♂️ Police officers from the Organized Crime and Triad Bureau took on the investigation, although it is unclear who informed them about the kidnapping.
👮♂️On the morning of July 4th, authorities reported the successful arrest of two suspects and the rescue of the child. The police have not yet released further details.
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Mt Gox Wallets Make Bitcoin Moves Ahead of Repayments
🔎 Arkham Intelligence reports minor transactions from Mt Gox wallets just before the scheduled $9 billion bitcoin repayments. Over the past few hours, three wallets associated with the defunct exchange moved small amounts, with the largest being just $24 worth of bitcoin.
👀 One intermediary wallet, previously consolidated with significant funds, sent $24 to Bitbank's hot wallet, with the rest moved to a new wallet. Bitbank is among the five exchanges designated to handle Mt Gox repayments, including Kraken, Bitstamp, SBI VC Trade, and Bitgo.
💰 These repayments won't be directly to bitcoin holders but through these exchanges, which will make the funds available to their customers within up to 90 days.
Given the minor amount transferred, it's unclear if this was a test for larger transactions. The trustee announced repayments would start from early July, but exact dates remain unknown. 🧐
🔎 Arkham Intelligence reports minor transactions from Mt Gox wallets just before the scheduled $9 billion bitcoin repayments. Over the past few hours, three wallets associated with the defunct exchange moved small amounts, with the largest being just $24 worth of bitcoin.
👀 One intermediary wallet, previously consolidated with significant funds, sent $24 to Bitbank's hot wallet, with the rest moved to a new wallet. Bitbank is among the five exchanges designated to handle Mt Gox repayments, including Kraken, Bitstamp, SBI VC Trade, and Bitgo.
💰 These repayments won't be directly to bitcoin holders but through these exchanges, which will make the funds available to their customers within up to 90 days.
Given the minor amount transferred, it's unclear if this was a test for larger transactions. The trustee announced repayments would start from early July, but exact dates remain unknown. 🧐
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Today is Independence Day in the USA
⬆️ Here’s what Bitcoin’s price was on this day in different years (this chart was obviously made in advance, today it's already $57,000 😂).⬆️
👀 But it seems the US government ran out of money for fireworks and decided to sell some more Bitcoin. Today, they transferred nearly 250 BTC (over $14 million) to an unknown wallet!
⬆️ Here’s what Bitcoin’s price was on this day in different years (this chart was obviously made in advance, today it's already $57,000 😂).⬆️
👀 But it seems the US government ran out of money for fireworks and decided to sell some more Bitcoin. Today, they transferred nearly 250 BTC (over $14 million) to an unknown wallet!
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Mt. Gox announced that on July 5th, it conducted payouts in BTC and BCH to certain creditors!
📝 A document has surfaced online indicating that the payouts were facilitated through specific cryptocurrency exchanges as per the plan.
Payouts to other creditors will occur after:
▪️Verification of the validity of registered accounts and other related matters.
▪️Agreement of creditors to participate in this process.
▪️Completion of discussions between the trustee and the aforementioned cryptocurrency exchanges regarding the payouts.
▪️Confirmation that the payouts can be executed safely and securely.
📝 A document has surfaced online indicating that the payouts were facilitated through specific cryptocurrency exchanges as per the plan.
Payouts to other creditors will occur after:
▪️Verification of the validity of registered accounts and other related matters.
▪️Agreement of creditors to participate in this process.
▪️Completion of discussions between the trustee and the aforementioned cryptocurrency exchanges regarding the payouts.
▪️Confirmation that the payouts can be executed safely and securely.
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We should understand that with Mt. Gox, it's all just beginning 👀
⬆️ Here's the proportion of what they have already distributed compared to what they still need to distribute.⬆️
But there's a notion that sometimes the anticipation is much scarier than the event itself. Perhaps the payouts themselves won't impact the market as much as the FUD associated with them. 🤔
⬆️ Here's the proportion of what they have already distributed compared to what they still need to distribute.⬆️
But there's a notion that sometimes the anticipation is much scarier than the event itself. Perhaps the payouts themselves won't impact the market as much as the FUD associated with them. 🤔
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🇳🇬 Nigerian Trader's Integrity Restores Trust in Crypto
Femi Akinola's act of honesty has taken social media by storm, rekindling faith in the crypto world. When a mistaken transfer gifted him $14,000 worth of Solana tokens, he promptly returned 90 SOL to its rightful owner, earning admiration and gifts totaling 35 SOL from the community. 🎁💰
🗞 In an interview with Cointelegraph, Akinola shared how he returned the tokens after a trader's giveaway accidentally sent him a fortune. His decision was driven by integrity and faith, highlighting ethical values in crypto transactions.
Akinola hopes his story reshapes perceptions of Nigerian traders globally, aiming to educate through crypto seminars. His actions remind us that integrity transcends borders, fostering hope within the crypto community.
Femi Akinola's act of honesty has taken social media by storm, rekindling faith in the crypto world. When a mistaken transfer gifted him $14,000 worth of Solana tokens, he promptly returned 90 SOL to its rightful owner, earning admiration and gifts totaling 35 SOL from the community. 🎁💰
🗞 In an interview with Cointelegraph, Akinola shared how he returned the tokens after a trader's giveaway accidentally sent him a fortune. His decision was driven by integrity and faith, highlighting ethical values in crypto transactions.
Akinola hopes his story reshapes perceptions of Nigerian traders globally, aiming to educate through crypto seminars. His actions remind us that integrity transcends borders, fostering hope within the crypto community.
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🇩🇪 German parliament member Joanna Kotar criticized the government's decision to hastily sell BTC and called for the development of a comprehensive strategy.
- she wrote.
Kotar emphasized that BTC offers a way to diversify the state's assets, thereby reducing risks tied to traditional investments.
She also extended an invitation to German Chancellor Olaf Scholz, Prime Minister Michael Kretschmer, and Finance Minister Christian Lindner to attend a "Bitcoin Strategies for Nation States” event. 😁
"Instead of holding bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale,"
- she wrote.
Kotar emphasized that BTC offers a way to diversify the state's assets, thereby reducing risks tied to traditional investments.
She also extended an invitation to German Chancellor Olaf Scholz, Prime Minister Michael Kretschmer, and Finance Minister Christian Lindner to attend a "Bitcoin Strategies for Nation States” event. 😁
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Arkham: No More Than $150 Million Withdrawn from Mt. Gox to Exchanges 🧐
🔎 Online researchers at Arkham meticulously analyzed all fund movements related to Mt. Gox. It was found that only a small portion of the funds managed by trustee Nobuaki Kobayashi has been sent to exchanges so far. Specifically, only 2701.8 BTC ($148.4 million) has been withdrawn from Mt. Gox wallets: 1544.7 BTC ($84.9 million) was sent to Bitbank, and 1157.1 BTC ($63.6 million) was sent to an unknown counterparty, likely registered in the announced repayment program exchange to an unknown exchange.
👀 The remaining 44,527 BTC was moved to another Mt. Gox wallet. Thus, Mt. Gox wallets still hold a total of 138,985 BTC ($7.52 billion).
Bitcoin's price has somewhat recovered following this news and is currently at $55,500.
The varied payout timelines might also be contributing positively: Kraken (90 days), Bitstamp (60 days), BitGo (20 days), and SBI VC Trade and Bitbank (14 days).
🔎 Online researchers at Arkham meticulously analyzed all fund movements related to Mt. Gox. It was found that only a small portion of the funds managed by trustee Nobuaki Kobayashi has been sent to exchanges so far. Specifically, only 2701.8 BTC ($148.4 million) has been withdrawn from Mt. Gox wallets: 1544.7 BTC ($84.9 million) was sent to Bitbank, and 1157.1 BTC ($63.6 million) was sent to an unknown counterparty, likely registered in the announced repayment program exchange to an unknown exchange.
👀 The remaining 44,527 BTC was moved to another Mt. Gox wallet. Thus, Mt. Gox wallets still hold a total of 138,985 BTC ($7.52 billion).
Bitcoin's price has somewhat recovered following this news and is currently at $55,500.
The varied payout timelines might also be contributing positively: Kraken (90 days), Bitstamp (60 days), BitGo (20 days), and SBI VC Trade and Bitbank (14 days).
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A Bit More About Corrections
Adam Back, the legendary cryptographer and cypherpunk who communicated with Satoshi Nakamoto himself (although he never met him in person, of course), and the head of Blockstream, reminds us that previous markets often saw BTC corrections of 30% or more. Currently, it's -26%, so he advises everyone to stay calm and buy the dip. 📉💰😎
Adam Back, the legendary cryptographer and cypherpunk who communicated with Satoshi Nakamoto himself (although he never met him in person, of course), and the head of Blockstream, reminds us that previous markets often saw BTC corrections of 30% or more. Currently, it's -26%, so he advises everyone to stay calm and buy the dip. 📉💰😎
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📊 The head of CryptoQuant clearly demonstrates that sales by the German government are greatly overestimated.
They account for only 4% of the total realized value since 2023 (compare the purple part of the chart to the gray).
In simpler terms, the market has sustained a 25-fold greater transfer of BTC between parties. 🧐
They account for only 4% of the total realized value since 2023 (compare the purple part of the chart to the gray).
In simpler terms, the market has sustained a 25-fold greater transfer of BTC between parties. 🧐
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⬆️ The chart of Germany's Bitcoin balance 📉
Again and again, Warren Buffett's truth is recalled that the market is a mechanism for redistributing wealth from the impatient to the patient. 🧐
😎 And Justin Sun, who previously proposed buying all bitcoins owned by the German government in the OTC market to reduce price pressure, made a mocking comment about the German national football team:
😂😂😂
Again and again, Warren Buffett's truth is recalled that the market is a mechanism for redistributing wealth from the impatient to the patient. 🧐
😎 And Justin Sun, who previously proposed buying all bitcoins owned by the German government in the OTC market to reduce price pressure, made a mocking comment about the German national football team:
The reason the German team lost the game in this European Championship might be because they sold too much Bitcoin.
😂😂😂
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Announcement of key loss near Central Park in New York City
💰 A reward of $10,000 is offered due to a crypto wallet Ledger attached to the keychain.
Having the seed phrase would help recover access to the crypto even without the wallet, but the owner apparently does not remember it. 😢
💰 A reward of $10,000 is offered due to a crypto wallet Ledger attached to the keychain.
Having the seed phrase would help recover access to the crypto even without the wallet, but the owner apparently does not remember it. 😢
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Justin Sun announced that his team is developing a solution that will enable stablecoin transfers without the need to hold a gas asset.
Fees will be paid in stablecoins. 👍
Initially, the service will be launched on Tron, followed by Ethereum and other EVM networks. The launch is expected in the fourth quarter of this year.
Fees will be paid in stablecoins. 👍
Initially, the service will be launched on Tron, followed by Ethereum and other EVM networks. The launch is expected in the fourth quarter of this year.
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