🛑 P2P Scams: Risе of P2P Trading Scams in India 🇮🇳 in binance and wazir x

-Ricky roy , entrepreneur
+919150532967
INDIA

The rise in P2P trading has led to a surge in fraudulent activities, particularly scams involving personal and financial data misuse or promises of high profits. In July, a notable incident in Ujjain, India, involved individuals apprehended for a P2P scam related to the Binance platform, using fake accounts and documents to exploit users for a fee of 1,500 Indian rupees ($18).

P2P scammers often use fraudulent crypto-focused Telegram channels to lure users with promises of returns or airdrops, tricking them into sharing sensitive banking information. They then create P2P accounts on platforms like Binance and WazirX to execute scams, targeting sellers and disappearing with cryptocurrency after completing transactions.

Victims often report to the police, leading to frozen bank accounts linked to scams, affecting unsuspecting traders on P2P platforms. In one case, a seller faced police intervention and threats due to a $40 transaction on WazirX, despite completing a P2P transaction. Resolving these issues involves complex processes and limited access to funds, causing significant challenges and fear among victims of P2P scams.

CONCLUSION -ALWAYS DEAL WITH TRUSTED DEALER

#BTC‬ #ScamRiskWarning #P2PScamAwareness #P2PScams #P2PScamPrevention

Why was the Crypto Market Down on 30 April 2024? $140 Million Liquidated in the Past 4 Hours

-Ricky roy ,india
+919150532967
Entrepreneur cum international promoter

Cryptocurrency enthusiasts find themselves on a rollercoaster ride as the crypto market takes a tumble over the past day, leaving traders scratching their heads in confusion. Despite a surge in positive sentiments surrounding cryptocurrencies in recent months, the Bitcoin price has stumbled in its attempt to maintain its bullish stride, stumbling at the significant $74k threshold.

The latest market data paints a somber picture, with Ethereum (ETH) witnessing a plunge of over 5 percent on Tuesday, dipping to a low of approximately $2,962. To weather the storm of volatility, more investors are shifting their focus from the unpredictable altcoin market to the relatively stable realms of both stablecoins and the Bitcoin market.

This shift is reflected in Bitcoin’s dominance, which surged by 1 percent to around 55.16 percent on Tuesday.

Liquidations Mount as Volatility Peaks
As the crypto landscape becomes increasingly volatile, the fallout is palpable, with over $100 million worth of long traders liquidated in the past four hours alone, adding to the staggering tally of nearly $300 million wiped out in the past 24 hours.

The tumult in the crypto sphere is poised to intensify in the days ahead, with all eyes on high-impact events, notably the impending release of crucial data by the United States Federal Reserve concerning interest rates and the Federal Open Market Committee (FOMC) on Wednesday.

Additionally, the looming sentencing of former Binance CEO CZ threatens to further roil the already turbulent waters of the market.

Is There Hope Still?
The cryptocurrency market is already in a macro bull cycle following the recent Bitcoin halving and the approval of spot BTC ETFs in Hong Kong and the United States. As a result, a possible crypto rebound could send Bitcoin price to a new all-time high (ATH) anytime in the coming months

BITCOIN HALVING 2024: HOW MEGA CRYPTO EVENT IMPACTED BTC PRICES, INVESTORS

-Ricky roy ,india
+919150532967

The halving coincided with a surge in transaction fees as many users competed for limited space. Bitcoin users collectively spent 37.7 BTC in fees, equivalent to over $2.4 million at current prices, to secure transactions within this block.



Bitcoin has completed its fourth halving. This historic moment, which occurred on April 19, 2024, saw the block reward for Bitcoin miners reduced by half, from 6.25 BTC to 3.125 BTC.
 Ryan Lee, Chief Analyst at Bitget Research, commented on the event, “Less than 48 hours since the BTC halving, we’re witnessing a pivotal moment in the cryptocurrency market. This event, which is designed to regulate the supply of Bitcoin, has historically spurred intense market speculation and volatility. Historically, each halving has paved the way for a bull market in the subsequent 6-12 months.”Surge in Transaction Fees and Market Corrections The halving coincided with a surge in transaction fees as many users competed for limited space. Bitcoin users collectively spent 37.7 BTC in fees, equivalent to over $2.4 million at current prices, to secure transactions within this block. The halving block saw a record-high 37.6 BTC fee (worth more than $2.4 million) attached to it. Lee added, “Recent market corrections have brought challenges, causing some investors to incur losses. Despite this Bitcoin price momentum, there are significant opportunities ahead. The investment logic remains sound, with a short-term focus on BTC ETF fund flows, a medium-term outlook on stablecoin market value, and a long-term consideration of the Federal Reserve’s Monetary Policy.”Impact on Bitcoin Miners and Market The immediate impact of the halving is felt primarily by Bitcoin miners, who see their block rewards cut in half. This affects their profitability and could lead to changes in the cryptocurrency mining industry. As the rate at which new bitcoins enter circulation is reduced by 50 per cent, the asset becomes increasingly rare.