Crypto theft reaches new high – November 13
Current Bitcoin Price: $6371 (as of 13:00 PM PST)
The cryptocurrency marketplace continues to be buying and selling sideways this week, if the rest with a slight undergo bias. While Bitcoin — which appears to be the truest stablecoin of all at the moment — is down simply zero.15%, secondary marketplace favorites Ethereum and XRP are down via 1.43% and a pair of.17%.
In reality, the one top-10 coin within the inexperienced is Bitcoin Cash, which is handiest up a measly unmarried p.c. Looking at cash #11 to #20, there’s extra pink numbers ranging between two and 4 p.c, with IOTA and NEM each doing neatly to wreck even.
There’s in point of fact no higher property for thieves to focus on than virtual ones, which will also be transferred after which saved moderately inconspicuously, all from the relaxation of a pc any place on the planet.
Of direction, this has made cryptocurrencies a first-rate candidate for web scams. According to CipherTrace’s quarterly Cryptocurrency Anti-Money Laundering Report, simply close to $1 billion of cryptocurrency property had been stolen this yr. That places the level of crypto theft at a new all time high.
Brad Garlinghouse is healthier referred to as the CEO of Ripple, the root in the back of the remittance token XRP. With now not even the slightest doubt, he’s pleased with the paintings that Ripple and XRP are doing to supposedly revolutionize the best way cash is distributed and won.
In a contemporary interview, he stated that “last week [Ripple] signed up a remittance company. Overnight they went from 20 USD per transaction to 2 USD per transaction and an 800% increase in transactions.” This in point of fact does display the ability of a centralized cryptocurrency challenge, whether or not or now not that is going in opposition to the crypto motion’s core values!
Crypto has noticed some usaand downs, but it surely used to be this present day precisely twelve months in the past when the cryptocurrency marketplace noticed the large bull ran that took the blockchain mainstream. The query is, how will the cryptos behave in opposition to the top of this yr?