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Users Who Purchase Other People’s Gmail Accounts to Log in to Worldcoin Are at Risk of Fund Theft
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Today’s Cryptocurrency Headline
23pds, the Chief Information Security Officer of SlowMist, has issued a reminder on Twitter regarding recent scams related to WorldCoin. As WorldCoin requires iris authentication, some individuals seeking to exploit the system have resorted to purchasing pre-verified Gmail accounts. This is where the scam comes into play. The scammers provide buyers with Gmail account credentials. These individuals then log into WorldCoin, perform transactions and exploit the system. However, WorldCoin’s design mechanism directly backs up the private key in plaintext TXT format on the Google account’s cloud storage. This is where the trap is set. The seller retains control over the Gmail account through other methods such as email forwarding and Key client login, allowing them to gain direct access to the buyer’s account, Gmail, and steal their assets and coins, among other things.
BingX’s Bitcoin Chart
Source: TradingView& BingX
Although BTC broke below the recent strong support level of $26,500, it did not accelerate to breach $26,000 directly. Instead, it managed to stay above $26,000, indicating a potential washout phase where the chips of those who bought at $26,500 were shaken out. On the daily chart, BTC formed a bullish doji star pattern, but the volume did not keep up, suggesting a rebound with low trading volume. Currently, it finds support from the 120-day moving average (MA) and the Bollinger Bands are converging. The lower Bollinger Band provides support at $26,100, while on the 4-hour chart, the widening Bollinger Bands put pressure around the middle band at $26,800. Presently, the market is in a phase of rebound and adjustment.
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Blur Launches ETH Loan Batch Repayment Function
Today’s Cryptocurrency Headline
Blur, an NFT marketplace, has announced a new feature on Twitter. Users can now borrow ETH and repay the loan in installments over a specific period, instead of making a lump sum payment. This applies to NFTs purchased using the “Buy Now Pay Later” (BNPL) option and directly borrowed NFTs. In case of loan repayment reminders, users have the option to extend the loan by paying a fee as low as 0.1 ETH, instead of repaying the full amount immediately. This feature can also be used for refinancing loans to obtain better interest rates.
BingX’s Bitcoin Chart
Source: TradingView& BingX
The current BTC market has approached a crucial support level around $26,000. If the bulls fail to mount a swift and effective resistance, the potential for a downside breakthrough of $26,000 opens up. However, as the market remains at this critical support level, the outcome is still uncertain. Yesterday’s significant bearish candlestick suggests an increasing probability of a downward move, but no definitive conclusion can be drawn at this point in a neutral cryptocurrency market analysis.
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TRM Labs: Sanctions on Tornado Cash Key to Decline in Crypto Hacks Last Quarter
Today’s Cryptocurrency Headline
A recent report by blockchain intelligence firm TRM Labs reveals that sanctions on Tornado Cash played a crucial role in reducing cryptocurrency hacker attacks last quarter. The report states that hackers stole approximately $400 million from crypto projects in 40 attacks, marking a 70% decrease in stolen funds compared to the same period in 2022. While the number of hacking incidents remained stable, the average size of each attack dropped from $30 million to $10.5 million. Furthermore, the amount stolen by hackers in Q1 2023 was lower than in any quarter of 2022. The report attributes these positive trends to legal actions against hackers and the sanctions imposed on Tornado Cash last year, making money laundering more difficult.
BingX’s Bitcoin Chart
Source: TradingView& BingX
Although BTC bulls have regained some upward momentum, their overall performance is not convincingly strong. In the short term, there remains a certain probability of downside risk. The area below 25,500 is a highly concentrated zone of trading activity, which has formed a strong support level after the volume breakthrough. The price has already experienced a rapid decline near this level on May 12, but the fact that it did not break below further validates the strength of this support level. In the past 10 days, there have been oscillations, but no new lows have been established on the daily chart. Conversely, the lows are trending higher, and the rebound momentum of the bulls is increasing.
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Daily Cryptocurrency Trading Volumes Hit Lowest Level Since March Peak
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Today’s Cryptocurrency Headline
Crypto daily trading volume has hit its lowest level since the peak in March, according to Frank Chaparro, the Head of News at The Block. Previously, the daily trading volume reached a high of $46 billion on March 19th, but on May 21st, it was only $10.42 billion. Chaparro attributes this decline to three factors: reduced liquidity due to the exits of trading firms like Jump and Jane Street, the seasonal market weakness around May (“Sell in May and go away”), and the bankruptcies of banks like Signature and Silvergate.
BingX’s Bitcoin Chart
Source: TradingView& BingX
In the short term, BTC’s price is displaying evident oscillations within a relatively stable channel. The balance between bullish and bearish volume indicates a lack of strong momentum. Currently, the price is positioned around the middle band near 27,100, with some room for upward movement, but lacking significant support for a breakthrough. The recent price action shows a gradual consolidation phase without substantial pullbacks after testing higher levels. Bullish volume is gradually building up, while moving averages indicate a consolidation phase.
加密貨幣日交易量創下三月以來最低點
The Block 新聞主管 Frank Chaparro 表示，加密貨幣日交易量已達到自 3 月份峰值以來的最低點。此前，日交易量在3月19日達到460億美元的高位，但5月21日僅為104.2億美元。 Chaparro 將這種下降歸因於三個因素：由於 Jump 和 Jane Street 等交易公司的退出導致流動性減少，5 月左右的季節性市場疲軟（「5 月賣出並離開」），以及 Signature 和 Silvergate 等銀行的破產。
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ConsenSys: MetaMask Does Not Tax Cryptocurrency Transactions
Today’s Cryptocurrency Headline
ConsenSys took to Twitter to clarify inaccurate information regarding its terms of service, stating that MetaMask does not impose taxes on cryptocurrency transactions. ConsenSys aims to make Web3 more user-friendly, accessible, and buildable through its suite of products. The mentioned tax terms only apply to ConsenSys’ taxable products and paid plans, not to MetaMask or other tax-exempt products.
BingX’s Bitcoin Chart
Source: TradingView& BingX
BTC remains directionless, similar to yesterday. If it had held above $27,000, the trend would have been more promising. Unfortunately, it failed to sustain above that level and returned below $27,000. Oscillating at these lower levels increases the probability of a downward move over time. Uncertainty arises as the deadline for the US debt ceiling approaches, which could cause market fluctuations. Currently, the market is experiencing low volatility.
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Bitcoin Payments App Strike Expands Service to 65 Countries
Today’s Cryptocurrency Headline
According to CoinDesk, Jack Mallers, the founder and CEO of Bitcoin payment provider Strike, announced at the Miami Bitcoin Conference that the Strike app is expanding its services from the current three countries (United States, El Salvador, and Argentina) to over 65 countries. The Strike app utilises Bitcoin and the Lightning Network to offer global payment and remittance services. The app supports users to hold funds in BTC and USDT.
BingX’s Bitcoin Chart
Source: TradingView& BingX
Bitcoin reached a high around $27,100 and a low around $26,600 yesterday. Following the impact of the Federal Reserve news, BTC displayed volatile price action, but eventually returned to a sideways movement. The current market situation remains a battle between bulls and bears, with expectations of continued consolidation over the weekend. On the daily chart, BTC Bollinger Bands are trending downwards. Support is seen around $26,000, and the MACD shows a divergence. Currently, the market is still caught between bullish and bearish forces, without a clear breakout from the $26,000-$27,000 range.
