Cryptocurrency News Today TheBitTimes.com

Bitcoin’s (BTC) latest slide has not only rattled traders but also reshaped its wealth distribution at a breathtaking pace.  Finbold research, drawing on data acquired from BitInfoCharts and verified via the Wayback Machine web archive tool, shows that between September 22 and September 26, the network shed 7,699 millionaire addresses, 1,116 wallets Bitcoin millionaires wiped out every day on average. On September 22, the count of millionaire wallets stood at 167,278. Four days later, that number had collapsed to 162,879. Even at the higher tiers, erosion was visible: multi-millionaire wallets (worth over $10 million) fell from 21,952 to 21,887, suggesting that even whales were not fully insulated from the downturn. Bitcoin millionaire rich list. Source: BitInfoCharts Bitcoin price correction The wipeout ties directly to Bitcoin’s sharp correction this week. After starting September 22 near $116,000, BTC has since slipped to just above $109,000, erasing rough...

A cryptocurrency trader has incurred massive losses of over $2 million after holding Ethereum (ETH) for nearly a year. The long-term Ethereum investor capitulated, locking in a staggering $2.6 million loss in a transaction initiated within 30 minutes, according to the latest on-chain data retrieved by Finbold from Arkham Intel on April 16. The unidentified trader initially withdrew 1,160 ETH valued at $4.43 million from the OKX cryptocurrency exchange 11 months ago. At the time, Ethereum was changing hands at $3,816. Crypto trader’s Ethereum transaction. Source: Arkham The ETH was then transferred to a self-custody wallet, suggesting a long-term investment strategy or an anticipation of higher prices. 30 mins of capitulation  However, on April 16, within just 30 minutes, the same wallet sent the full amount of ETH back to OKX in three major deposits, 658.3 ETH, 500 ETH, and 2 ETH, at an average exit price of around $1,580, totaling $1.83 million....

Crypto-related scams in Hong Kong reportedly accounted for more than 50% of the total $407 million stolen from city residents in tech crimes in 2022. Some countries around the world suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022. Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year, surging 106% from a year before, according to the local police. The number of crypto-related scams reported in Hong Kong in 2022 equaled 2,336 cases, surging 67% from 1,397 cases recorded by police in 2021, the South China Morning Post reported. Hong Kong scams involving crypto accounted for more than 50% of the total 3.2 billion HKD ($407 million) stolen from city residents in technology crimes, according to the official data from the Hong Kong Police CyberDefender website. In the previous four years, online scammers bagged a similar amount of money or about 3 billion HKD per year. The entire amount of ...