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How Bitcoin Phishing Scams Are Stealing Millions – NewsBTC

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Phishing comes in many forms. The main target of any cybercrime is to generate money from duplicitous actions. When a hacker targets an international business and steals their data, there is a financial incentive that pushes them to do so. As cryptocurrency becomes a more recognized financial medium, attackers are actively turning to target those with digital wallets.
In 2021, crypto scammers took ​​$14 billion. Quite simply, as Bitcoin and other cryptocurrencies become more valuable, they become a bigger target for hackers and scammers. With this in mind, those that actively buy, sell, and trade cryptocurrencies like Bitcoin need to be aware of the risk they’re taking.
In this article, to help reduce the chance of you falling for a Bitcoin phishing scam, we’ve created this article to show you the most common Bitcoin phishing messages you’re likely to come across. By learning about which forms phishing emails take, you’ll be better prepared to recognize them and put a stop to them before anyone makes off with your hard-earned crypto.
When creating phishing emails that cause cryptocurrency owners to accidentally give away information about their private wallets, the message often comes from a financial service. Whether it’s an impersonation of a service or a fake exchange reaching out via email, attackers use a range of strategies to try and deceive their audience.
When you open your inbox, try to scan for the follow emails, as they might be a sign of someone attempting to steal your information:
Let’s break down these commonly-used methods.
Password resets are far from exclusive to cryptocurrency scams, yet are still one of the most pressing forms of scams that are employed when trying to steal Bitcoin and another cryptocurrency. By copying the layout of an email from an exchange like Binance, a hacker can duplicate a password reset almost identically.
They’ll send this email out, alerting their victims that they need to reset their passwords. Within this email, the reset link will then go to the attacker’s own website, where they can then collect the old password and use it to gain access to accounts.
Especially with Bitcoin and other cryptos, where a transaction is fairly irreversible, if a hacker gains access to your account for even a few minutes, they can do irreparable damage. It’s always a good idea to verify where your password reset emails are coming from. Better still, only reset your password by navigating from Google to the actual site, never directly through an email itself.
Within the online world, it’s incredibly easy to create fake profiles, find photos online, and construct a whole false identity. Over the past few months, the world of cryptocurrency has seen many false accounts creating profiles, gaining an audience, hosting a scam giveaway, then disappearing without a trace.
Whether it be through private messaging and asking for crypto or through hosting free giveaways which inject malware onto computer systems, always double-check who you’re talking to online.
While an extreme form of impersonation, back in 2020, a group of hackers managed to gain access to a variety of notable figures on Twitter, such as Barack Obama, Jeff Bezos, Kim Kardashian, and more. From these accounts, they then tweeted a Bitcoin scam which saw Twitter users send over $110,000 USD in transactions.
Always be wary about things that seem too good to be true when it comes to crypto.
Over the past 18 months, seemingly hundreds of DeFi exchanges have popped up. A market that was once controlled by a few larger players is now saturated by exchanges from all over the world. With this, it’s not uncommon to find an email in your inbox that offers to help you sell or buy Bitcoin at great rates.
Unfortunately, many of these emails will be phishing attempts, with the fake exchange simply trying to farm information to take over a user’s wallet. Try and stick to sites that you know are reputable, and always navigate to them through Google instead of via email.
While not directly related to Bitcoin, throughout the history of blockchain, a huge number of scam ICOs have been launched. This was at its worst back in 2018, when 80% of all cryptocurrencies released turned out to be scams. Investing in coins at a very early stage, especially when the project seems to lack a great deal of documentation, is not the smartest idea.
Although it’s tempting when you see promises of 100x returns, always be sure to research any project thoroughly before you actually commit to investing. Start with their white paper, read through their fundamentals and tokenomics, and try to discern if this project is actually worth investing in or just seems like hot air.
Equally, if an email arrives into your inbox that offers an airdrop in exchange for a small Bitcoin fee – don’t leap at the opportunity. Airdrops should never involve you giving away details of your account, no matter how great the opportunity may seem to you on the outside. Remember that phishing emails are incredibly common – you’re more likely to come across a scam than a real crypto opportunity, unfortunately.
Cryptocurrency, even in 2022, is still full of scams, hacks, and people with bad intentions. Due to the huge value of this industry, especially leading cryptos like Bitcoin, attackers will stop at nothing to gain access to user wallets and exploit them.
When reading through your emails, you’re carefully walking across the front lines, where the vast majority of cryptocurrency scams and exploits occur. What may seem like a simple email might actually have much worse intentions. Be sure to always take your time, read carefully, and never click on links from companies that you don’t recognize – your Bitcoin could be at stake.
 
 
 

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Trader Who Nailed 2022 Bitcoin Collapse Predicts Big Correction for XRP, Updates Outlook on Two Low-Cap Alt… – The Daily Hodl

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The crypto analyst who accurately predicted Bitcoin’s (BTC) crash this year says XRP is likely due for an over 50% decline.
The psuedonymous analyst known in the industry as Capo tells his 541,600 Twitter followers that open-source digital currency XRP remains in a downtrend despite its recent rally.
According to a chart shared by Capo, XRP appears poised to plunge to its high timeframe support at $0.20.
“XRP.”
At time of writing, XRP is changing hands for $0.447, an over 5% decrease on the day. The sixth-largest crypto asset by market cap has risen nearly 40% from its 30-day low of $0.32 but remains more than 86% down from its all-time high of $3.40.
Another altcoin on the trader’s radar is Stellar Lumens (XLM), a crypto asset designed to act as a bridge between two fiat currencies when sending money abroad. According to Capo, XLM gearing up for a quick rally to his target of $0.16 before resuming its downtrend.
“Long on XLM.”
At time of writing, XLM is valued at $0.118, flat on the day.
The analyst is also keeping a close watch on Reserve Rights Token (RSR), cryptocurrency designed to facilitate the stability of the asset-backed stablecoin known as the Reserve Token (RSV). According to Capo, RSR still offers more upside potential despite its over 90% rally in just two weeks.
“Support to resistance flip of the previous key level. Next target is $0.012, but main target remains $0.017. I haven’t taken profits yet, just trailing the stop in profits.” 
At time of writing, RSR is swapping hands for $0.0099, a 4.95% increase on the day.
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Bitcoin slips lower, and South Korea issues arrest warrant for Terra's Do Kwon – CNBC

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Bitcoin slips lower, and South Korea issues arrest warrant for Terra’s Do Kwon  CNBC
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Latest Stock Market News for Sept. 27, 2022 – The New York Times

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Concerns about rising interest rates and the prospects of a global slowdown remain.
Follow our latest coverage of business, markets and economy.
Isabella Simonetti and
Sept. 30
3,600
3,620
3,640
3,660
Data delayed at least 15 minutes
Source: FactSet
By: Ella Koeze
Unease on Wall Street continued on Tuesday, bringing the stock market to its longest losing streak since February 2020, even as trading in global markets started to calm after days of turmoil in everything from currencies to oil prices.
Trading was volatile. After an early gain, the S&P 500 changed course and ended 0.2 percent lower for the day, its sixth consecutive daily decline and a new low for the year. The last time the S&P 500 recorded a drop for that many days was in February 2020, when investors were shaken at the beginning of the coronavirus pandemic.
The S&P 500 has dropped 6.5 percent over the past six trading days. Market sentiment has turned sharply since a summer rally lifted the index some 17 percent from a June low, as investors have faced up to the idea that central banks around the world won’t slow down their campaign to raise interest rates to combat inflation, even if that threatens the economy.
The hard line from central bankers, who are trying to control the price increases that are running at their fastest pace in decades, has analysts predicting that a recession is more likely for the United States, Britain and continental Europe.
“It’s looking very clear now that the major central banks are not going to blink in bringing down inflation at the cost of growth,” said Rob Subbaraman, head of global macro research at Nomura. “I’m more worried about Europe than the U.S. in terms of the depth of the recession.”
Several central banks, including the Federal Reserve and the Bank of England, raised rates last week, with more increases in store.
On Tuesday, Charles Evans, the president of the Federal Reserve Bank of Chicago, said in a speech that “we will need to raise rates further and then to hold that stance for a while” to tame inflation.
Stock trading in Europe and Asia was steadier than in recent days, but some major benchmarks still ended slightly lower. The pan-European Stoxx 600 index fell 0.13 percent, while in Asia, Japan’s Nikkei climbed 0.5 percent and South Korea’s Kospi composite index gained 0.1 percent.
The Shanghai composite index rose more than 1 percent. Reuters reported that Chinese market regulators had asked brokers to help stabilize domestic stock markets ahead of an important Communist Party congress next month.
In Britain, the center of financial turmoil in recent days, the FTSE 100 dropped about half a percent, while the British pound climbed to $1.072, a day after touching a low point against the dollar. Investors there have been rattled by the government’s announcement on Friday of a sweeping plan to cut taxes and increase borrowing.
Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said on Monday that the severe market reaction to the British government’s proposals reflected a fear that the “new actions will add uncertainty to the economy.”
In the United States, “the key question will be, what does this mean for ultimately weakening the European economy, which is an important consideration for how the U.S. economy is going to perform,” Mr. Bostic said in an interview at a Washington Post event.
When asked whether the instability emanating from Britain increased the chance of a global recession, Mr. Bostic said, “I think it doesn’t help it.”
Oil prices regained some lost ground on Tuesday, with the price of West Texas Intermediate crude, the U.S. benchmark, rising 2.3 percent, to about $78.50 a barrel. The gains came as some oil producers in the Gulf of Mexico, including Chevron and BP, said they would evacuate some staff from oil platforms as Hurricane Ian made its way toward Florida.
On Friday, oil prices had dropped below $80 a barrel for the first time since January.
Jeanna Smialek and Joe Rennison contributed reporting.

The new British government’s plan for tax cuts, borrowing and spending will be met with a “significant” response by monetary policy officials, Huw Pill, the chief economist of the Bank of England, said on Tuesday. That could pit the central bank’s effort to reduce inflation by cooling demand against the government’s desire to stimulate the economy.
At the end of last week, Kwasi Kwarteng, the chancellor of the Exchequer, spooked financial markets when, without citing an independent fiscal and economic assessment, he revealed plans for the biggest tax cuts in half a century and an increase in government borrowing. On Monday, the pound dropped to a record low against the U.S. dollar, and analysts began to predict it would soon reach parity, or a one-to-one exchange rate. British borrowing costs shot higher as bond yields jumped to the highest levels in more than a decade, disrupting the mortgage market as traders bet the central bank would have to raise interest rates aggressively to tame inflation.
In a statement on Monday, the Bank of England appeared to rule out any interest rate increases before its next meeting in early November. Mr. Pill indicated that when the time came for a move it would be “significant,” a word he used often.
“We have all seen the recent significant fiscal news in the past few days,” Mr. Pill said on Tuesday at a conference hosted by Barclays and the Center for Economic Policy Research in London. “That has had significant market consequences as well as significant implications for the macro outlook.”
“It’s hard not to draw the conclusion that all this will require a significant monetary policy response,” he added.
The government’s policies, which include capping energy costs for businesses and households, “will act as a stimulus to demand in the economy,” Mr. Pill added, offering some of the first glimpses into how the bank will assess the recently announced measures.
One criticism of the government’s policies is that they pull in the opposite direction to the central bank’s goal of bringing down inflation, which is near a 40-year high. Last week, the cental bank raised interest rates by half a percentage point, disappointing some who thought that the move would be larger. The next day, the chancellor’s announcement on tax cuts and other measures shocked markets. Since then, traders have added to bets on interest rates to rise even more.
The criticism was echoed by the International Monetary Fund, which on Tuesday said that the government’s “large and untargeted fiscal packages” were undercutting monetary policy. The moves, it added, could also hurt low-income earners.
“The nature of the U.K. measures will likely increase inequality,” the I.M.F. said in a statement.
Mr. Pill also described the changes in British financial assets as significant. He said that these changes were part of a shift in asset prices in response to higher interest rates around the world, but that there was “very clearly a U.K.-specific element.”
Policymakers at the central bank “are certainly not indifferent to the re-pricing of financial assets we have seen,” Mr. Pill said.
Because Britain is a small, open market economy, higher bond yields and a weaker currency have an “important influence” on the cost of financing and price of imports, he said.
On Tuesday, the pound was trading below $1.08, up from its recent lows but still at levels unseen since the mid-1980s. Yields on benchmark 10-year bonds were at 4.51 percent, the highest since the financial crisis of 2008.
In all, the market moves have made the bank’s job of bringing down inflation harder, Mr. Pill said. Inflation is about five times the bank’s 2 percent target, even after seven interest rate increases since late 2021.
“Recent market developments have created their own additional challenges for the pursuit of our target,” Mr. Pill said.

Federal Reserve officials confront a world of rapid inflation, slowing growth and rampant uncertainty coming from turmoil abroad. In spite of all that, they are still predicting that they might be able to cool down the U.S. economy without tipping it into a painful recession.
Economists and markets are dubious, and even central bankers acknowledge that there are risks. But here are some of the reasons they have laid out for why they might be able to pull it off:
America has a strong job market. U.S. employers are still hiring at a solid clip, and the unemployment rate is near a 50-year low. “This gives us some room to maneuver to try to take care of the inflation problem as soon as we can, while the labor market is still strong,” James Bullard, president of the Federal Reserve Bank of St. Louis, said at an event in London on Tuesday.
Job openings are plentiful. Some economists think that the strong job market could provide a cushion, specifically because so many jobs are going unfilled right now. That might mean that job openings could fall as the economy slows — but without unemployment rising as sharply as it has historically amid declining demand. Jerome H. Powell, the Fed chair, called that possibility “plausible” at his news conference last week.
Inflation expectations are stable. Consumers’ longer-term inflation expectations have moderated recently. That's good news, because when consumers and businesses anticipate fast inflation, they can act in ways that make it more likely, such as asking for rapid pay increases or instituting regular price changes. The continued stability gives officials hope that price increases will not be as difficult to stamp out as they were in the 1980s, for instance.
Still, the risks are real. Several Fed officials have pointed to the turmoil abroad — the war in Ukraine, lockdowns in China and uncertainty in Britain — as a threat that could draw the United States into recession. It is also hard to guess how today’s rapid rate increases will play out over time, because their full effect takes a while to show up. And supply chains, while improving, could always become tangled again.
The Fed’s approach offers “a path for employment stabilizing at something that still is not a recession,” Charles Evans, the president of the Federal Reserve Bank of Chicago, said on Tuesday during an interview on CNBC Europe. “But there could be shocks.”

The surging dollar is wrecking stock portfolios, clobbering commodity prices and sinking rival currencies. The British pound has been among the most volatile currencies against the dollar, tumbling 5.6 percent over the past seven days, and briefly hitting a record low on Monday of $1.0327.
But one asset has been relatively calm over the past week: Bitcoin. The cryptocurrency has risen 6.5 percent over the past seven days, a surprisingly strong run that has caught the eye of crypto bulls and bears.
“You know we’ve reached a unique time in history when #Bitcoin suddenly is less volatile than fiat currencies,” tweeted Sven Henrich, the founder of NorthmanTrader, a markets research firm. Mr. Henrich was one of the most prominent bears during the recent bull market, warning about overpriced assets like crypto.
When central banks raised interest rates, Bitcoin largely traded like risky assets, such as tech stocks. But that hasn’t necessarily been the case over the past month. Bitcoin has traded in the green (but only slightly) so far in September, while the tech-heavy Nasdaq is down nearly 10 percent over that period.
But zoom out further, and the picture looks more frightening for crypto bulls. Bitcoin has lost more than half its value in 2022, far underperforming stocks, bonds and most currencies.
The Federal Reserve’s determination to crush inflation in the United States by raising interest rates is inflicting profound pain in other countries. Those increases are pumping the value of the dollar — the go-to currency for much of the world’s trade and transactions — and causing economic turmoil in both rich and poor nations, writes Patricia Cohen of The New York Times.
On Monday, the British pound touched a record low against the dollar as investors balked at a government tax cut and spending plan.
And China, which tightly controls its currency, fixed the renminbi at its lowest level in two years while taking steps to manage its decline.
The dollar is the world’s reserve currency — the one that multinational corporations and financial institutions most often use to price goods and settle accounts. Roughly 40 percent of the world’s transactions are done in dollars, whether the United States is involved or not, according to a study done by the International Monetary Fund.
And now, the value of the dollar compared with other major currencies like the Japanese yen has reached a decades-long high. The euro, used by 19 nations across Europe, reached 1-to-1 parity with the dollar in June for the first time since 2002.
In an anxious world, the dollar has traditionally been a symbol of stability. The worse things get — like during a pandemic or war, or amid climate disasters — the more people buy in dollars. And however cloudy the economic outlook is in the United States, it’s still better than in most regions.
Rising interest rates make the dollar all the more alluring to investors by ensuring a better return. That means they are investing less in emerging markets, further straining those economies.
The unusual concatenation of events is making things even worse for countries that might otherwise be able to take advantage of a devalued currency to export more of their own goods, which have become cheaper.

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