Some of Our Sources
- Simplebits
- TutsPlus - Code
- Just Creative
- Pearsonified
- The Logo Smith
- Smashing Apps
- Abduzeedo
- Fudge Graphics
- CSS Globe
- CSS Tricks
Help Webnuz
Referal links:
December 18, 2019 07:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QvB2lJgtkQQ/how-a-whale-crashed-bitcoin-to-sub-7000-overnight
How a Whale Crashed Bitcoin To Sub-$7,000 Overnight
CaptainDork shares a report from NewsBTC: Bitcoin lost billions of dollars worth of valuation within a 30-minutes timeframe as a Chinese cryptocurrency scammer allegedly liquidated its steal via over-the-counter markets. The initial sell-off by PlusToken caused a domino effect, causing mass liquidations. PlusToken, a fraud scheme that duped investors of more than $2 billion, dumped huge bitcoin stockpiles from its anonymous accounts, according to Chainalysis. The New York-based blockchain consultancy cited an internal investigation that showed PlusToken scammers on a systematic crypto liquidation spree. Some of them have been actively selling bitcoin since June -- right after the cryptocurrency established a year-to-date high of circa $14,000. According to Chainalysis, PlusToken had cashed out at least $185 million worth of bitcoin via OTC desks. "We can say that those cashouts increased volatility in Bitcoin's price and that they correlate significantly with Bitcoin price drops," says Chainalysis. "Chainalysis's study shows that the entity still holds a massive stash of bitcoin that it might liquidate at a later stage," adds NewsBTC. "That raises the prospects of more price crashes unless there is an adequate demand to match the scammer's supply flow."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QvB2lJgtkQQ/how-a-whale-crashed-bitcoin-to-sub-7000-overnight
Share this article:
Tweet
View Full Article
Slashdot
Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..More About this Source Visit Slashdot