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đ¨ FOMO Gone Wrong: A Costly $166K Lesson!
Donât let #FOMO drain your portfolio! One trader learned this the hard way, losing $166.2K in just 2 days:
Day 1: FOMO-bought $Quant, but it dipped, leading to a loss of $83.9K.
Day 2: Sold $Quant to chase the hype around $LETHIMCOOK, which promptly crashed, adding another $81.3K loss.
Wallet in Question: 5zUfQm6FQRTzoWTVwQHmtXJPv8DVVoEdg9RPiJ7f67Mp.
Lesson Learned: Hype can burnâdo your own research (DYOR) and trade wisely! đĄ
#memecoinđđđ #loss #sol
Donât let #FOMO drain your portfolio! One trader learned this the hard way, losing $166.2K in just 2 days:
Day 1: FOMO-bought $Quant, but it dipped, leading to a loss of $83.9K.
Day 2: Sold $Quant to chase the hype around $LETHIMCOOK, which promptly crashed, adding another $81.3K loss.
Wallet in Question: 5zUfQm6FQRTzoWTVwQHmtXJPv8DVVoEdg9RPiJ7f67Mp.
Lesson Learned: Hype can burnâdo your own research (DYOR) and trade wisely! đĄ
#memecoinđđđ #loss #sol
When $PNUT was launched at half the price of USD, i bought them for about 8 or something dollars, i gathered 18+ coins, but i thought that it doesn't have what it takes to bring ROI, so i sold those coins for $CETUS ..
Now cetus is at The same price but $PNUT reached nearly 2 usd... lost the opportunity i think đ...
#pnut #cetus #loss
Now cetus is at The same price but $PNUT reached nearly 2 usd... lost the opportunity i think đ...
#pnut #cetus #loss
Loss again.
So I have to say this, if you know you ain't a guru or expert in trading stop giving signals on your page and focus on something else, like sharing crypto news on legit news site. I just lost the 100$ that took me ages to rise because it very hard for the poor to help the rich this days.
You can't be doing that to innocent people.
Because it's ain't easy starting over and over again please. Let the poor breath.
#loss #CryptoTalks #crypto2023
So I have to say this, if you know you ain't a guru or expert in trading stop giving signals on your page and focus on something else, like sharing crypto news on legit news site. I just lost the 100$ that took me ages to rise because it very hard for the poor to help the rich this days.
You can't be doing that to innocent people.
Because it's ain't easy starting over and over again please. Let the poor breath.
#loss #CryptoTalks #crypto2023
2022 Report Reveals: Web2 Weaknesses Contribute to Nearly Half of Crypto Losses
- A recent study by Immunefi, a security auditing company, revealed that in 2022, 46% of crypto losses were attributed to Web2 vulnerabilities.
- Within Web3 vulnerabilities, the report identified three main categories: design flaws, implementation flaws, and infrastructure weaknesses.
- The study highlighted the shift towards a more community-driven approach to Web3 security, with increased collaboration among projects, users, and security experts to address vulnerabilities.
- To brace for the 2024 bull cycle, the report suggests that Web3 projects invest in security measures, conduct thorough testing and audits of their smart contracts, and actively engage with the security community.
- By adopting these measures, Web3 projects can fortify themselves against the expected rise in hacks and exploits as cryptocurrency prices surge once more.
Amidst the prevailing concern over the hazards within Web3 technology, discussions abound regarding its inherent risks, from the peril of losing investments to rug-pulls, scams, and hacking incidents.
The discourse unveils a compelling narrative, attributing the vulnerabilities and losses not solely to Web3 but also highlighting the culpability of Web2 technology. This narrative, particularly prominent during the 2022 bear market, spotlighted major exploits like the BNB Chain, Ronin, and Qbit hacks, tarnishing Web3's reputation. Instances like the Terra Ecosystem crash, wiping out billions in a day, serve as stark reminders of the sector's susceptibility.
However, a fresh perspective emerges: Could Web2 be equally responsible for these crypto losses? Recent findings from security audit firm Immunefi suggest so. Contrary to popular belief, it's not solely bad smart contracts driving the hacks; nearly half, approximately 46%, stemmed from flaws within Web2 infrastructure.
Immunefi's in-depth analysis also reveals common vulnerabilities across both Web2 and Web3, such as leaked private keys, weak encryption, and DNS hijacking. The report categorizes security loopholes into three groups: design flaws, implementation glitches, and infrastructure weaknesses. Each category poses unique threats, as seen in exploits like the BNB Chain bridge hack, QBit hack, and Ronin bridge attack.
Looking ahead to the 2024 bull cycle, Immunefi's report forecasts a pivotal shift. Emphasizing the indispensable role of Web2 security alongside Web3, it underscores the vital role of user interface and a community-driven approach in fortifying security. As crypto projects gear up for the anticipated surge, the report advocates investment in security measures, meticulous testing and auditing of smart contracts, and active engagement with the security community.
While this insight serves as a guiding beacon, it's crucial to acknowledge the inherent volatility of cryptocurrencies. The Voice of Crypto aims to provide accurate information; however, readers are encouraged to conduct their research and exercise prudence in financial decisions within this unpredictable landscape.
#web2 #Web3Wallet #Web3 #loss
- Within Web3 vulnerabilities, the report identified three main categories: design flaws, implementation flaws, and infrastructure weaknesses.
- The study highlighted the shift towards a more community-driven approach to Web3 security, with increased collaboration among projects, users, and security experts to address vulnerabilities.
- To brace for the 2024 bull cycle, the report suggests that Web3 projects invest in security measures, conduct thorough testing and audits of their smart contracts, and actively engage with the security community.
- By adopting these measures, Web3 projects can fortify themselves against the expected rise in hacks and exploits as cryptocurrency prices surge once more.
Amidst the prevailing concern over the hazards within Web3 technology, discussions abound regarding its inherent risks, from the peril of losing investments to rug-pulls, scams, and hacking incidents.
The discourse unveils a compelling narrative, attributing the vulnerabilities and losses not solely to Web3 but also highlighting the culpability of Web2 technology. This narrative, particularly prominent during the 2022 bear market, spotlighted major exploits like the BNB Chain, Ronin, and Qbit hacks, tarnishing Web3's reputation. Instances like the Terra Ecosystem crash, wiping out billions in a day, serve as stark reminders of the sector's susceptibility.
However, a fresh perspective emerges: Could Web2 be equally responsible for these crypto losses? Recent findings from security audit firm Immunefi suggest so. Contrary to popular belief, it's not solely bad smart contracts driving the hacks; nearly half, approximately 46%, stemmed from flaws within Web2 infrastructure.
Immunefi's in-depth analysis also reveals common vulnerabilities across both Web2 and Web3, such as leaked private keys, weak encryption, and DNS hijacking. The report categorizes security loopholes into three groups: design flaws, implementation glitches, and infrastructure weaknesses. Each category poses unique threats, as seen in exploits like the BNB Chain bridge hack, QBit hack, and Ronin bridge attack.
Looking ahead to the 2024 bull cycle, Immunefi's report forecasts a pivotal shift. Emphasizing the indispensable role of Web2 security alongside Web3, it underscores the vital role of user interface and a community-driven approach in fortifying security. As crypto projects gear up for the anticipated surge, the report advocates investment in security measures, meticulous testing and auditing of smart contracts, and active engagement with the security community.
While this insight serves as a guiding beacon, it's crucial to acknowledge the inherent volatility of cryptocurrencies. The Voice of Crypto aims to provide accurate information; however, readers are encouraged to conduct their research and exercise prudence in financial decisions within this unpredictable landscape.
#web2 #Web3Wallet #Web3 #loss
#$ICP #Write2Earn! #loss $ICP
Guys Tell me about ICP
it will go up again or not ?
I am in Loss đđđđđđ
Guys Tell me about ICP
it will go up again or not ?
I am in Loss đđđđđđ
Did MicroStrategy Make $900 Million by Buying 6,067 Bitcoin? đ°
#MicroStrategy , founded by Michael Saylor, gained $900 million as they bought 6,067 Bitcoin in the third quarter, capitalizing on a price drop. The move was spurred by optimism around potential approval of spot Bitcoin ETF.
Despite a 3% year-on-year revenue increase to $129.5 million, the firm recorded a net #loss of $143.4 million due to digital asset impairment losses and income taxes.
MicroStrategy remains committed to its Bitcoin strategy and also sees growth potential in its business analytics products, with its #stock price increasing by 2.7% in after-hours trading.
#Binance
#crypto2023
#MicroStrategy , founded by Michael Saylor, gained $900 million as they bought 6,067 Bitcoin in the third quarter, capitalizing on a price drop. The move was spurred by optimism around potential approval of spot Bitcoin ETF.
Despite a 3% year-on-year revenue increase to $129.5 million, the firm recorded a net #loss of $143.4 million due to digital asset impairment losses and income taxes.
MicroStrategy remains committed to its Bitcoin strategy and also sees growth potential in its business analytics products, with its #stock price increasing by 2.7% in after-hours trading.
#Binance
#crypto2023
Impact of Political Tensions on Market Prices: The Roles of Elon Musk, President Milei, and the Brazilian Government
Recently, financial markets have experienced a notable decline in price indices, a phenomenon attributed to rising political tensions involving prominent figures such as Elon Musk, Argentine President Javier Milei, and the Brazilian government. These tensions have provoked uncertainties that reverberate through global economies, negatively impacting investor sentiment.
Elon Musk, known for his controversial statements and significant social media influence, has been central to various controversies affecting both the tech and political sectors. His recent interactions and political stances have contributed to an atmosphere of instability.
Similarly, President Milei, whose administration is characterized by a radically liberal economic approach, has sparked heated debates both locally and internationally. The policies implemented by his administration are viewed with concern by many analysts, who fear that his reforms may lead to greater economic volatility in Latin America.
In Brazil, the government has faced its own political challenges, which, combined with the external impacts of actions by figures like Musk and Milei, have contributed to an environment of uncertainty affecting the market directly. Domestic political decisions, along with tense foreign relations, have led to a reduction in investor confidence, reflecting in a downturn in market prices.
This situation highlights the interconnection between global politics and financial markets, demonstrating how leadership and political decisions can directly influence the global economy in profound and sometimes unpredictable ways. The repercussions of these tensions are still being assessed, but it is already clear that the impact is widespread, affecting not only local markets but also global economic stability.
#bear #crysis #down #loss
Recently, financial markets have experienced a notable decline in price indices, a phenomenon attributed to rising political tensions involving prominent figures such as Elon Musk, Argentine President Javier Milei, and the Brazilian government. These tensions have provoked uncertainties that reverberate through global economies, negatively impacting investor sentiment.
Elon Musk, known for his controversial statements and significant social media influence, has been central to various controversies affecting both the tech and political sectors. His recent interactions and political stances have contributed to an atmosphere of instability.
Similarly, President Milei, whose administration is characterized by a radically liberal economic approach, has sparked heated debates both locally and internationally. The policies implemented by his administration are viewed with concern by many analysts, who fear that his reforms may lead to greater economic volatility in Latin America.
In Brazil, the government has faced its own political challenges, which, combined with the external impacts of actions by figures like Musk and Milei, have contributed to an environment of uncertainty affecting the market directly. Domestic political decisions, along with tense foreign relations, have led to a reduction in investor confidence, reflecting in a downturn in market prices.
This situation highlights the interconnection between global politics and financial markets, demonstrating how leadership and political decisions can directly influence the global economy in profound and sometimes unpredictable ways. The repercussions of these tensions are still being assessed, but it is already clear that the impact is widespread, affecting not only local markets but also global economic stability.
#bear #crysis #down #loss
đ Crypto Markets Lose $70B in 2 Days as These Altcoins Bleed Out đĽ
Hey Crypto Community, The Blockopedia here, bringing you the latest from the volatile world of cryptocurrencies. Over the past 48 hours, the market has seen a significant downturn, with a massive $70 billion loss. Let's delve into what's happening in the crypto space.
đ The Highs and Lows of the Market
The crypto market, known for its volatility, has taken another dramatic turn. After a period of impressive gains, major altcoins have experienced steep declines, with red dominating the charts. Ethereum, Binance Coin, and other prominent altcoins have seen significant drops in value. đ
đŞ Avalanche and Altcoins: A Sudden Drop
Avalanche leads the pack with a 12% drop, closely followed by other altcoins like APT, LDO, FIL, and NEAR. From soaring highs to sudden lows, the market shift has been rapid, impacting investors and traders alike. đť
đ Bitcoinâs Uncertain Path
Bitcoin, while not suffering as much as its altcoin counterparts, has had its share of volatility. After a rally to $38,000, Bitcoin faced resistance and dropped below $36,000. Its market dominance, however, has seen an increase as altcoins face harsher declines. âż
đ Market Cap Takes a Hit
The total crypto market cap has witnessed over $70 billion evaporate, plummeting to below $1.4 trillion. This significant downturn is a reminder of the inherent risks and unpredictability of cryptocurrency investments. đš
đ¤ Navigating the Crypto Landscape
This recent market shake-up is yet another example of the crypto world's dynamic nature. Whether you're a seasoned trader or a newcomer, staying informed and cautious is key in navigating these turbulent waters.
đ Stay updated with The Blockopedia for more real-time market insights and analyses in the ever-changing world of cryptocurrencies. đđ
#loss #CryptoMarketSentimentđŹđđ #crypto #cryptocurrency #crypto2023
Hey Crypto Community, The Blockopedia here, bringing you the latest from the volatile world of cryptocurrencies. Over the past 48 hours, the market has seen a significant downturn, with a massive $70 billion loss. Let's delve into what's happening in the crypto space.
đ The Highs and Lows of the Market
The crypto market, known for its volatility, has taken another dramatic turn. After a period of impressive gains, major altcoins have experienced steep declines, with red dominating the charts. Ethereum, Binance Coin, and other prominent altcoins have seen significant drops in value. đ
đŞ Avalanche and Altcoins: A Sudden Drop
Avalanche leads the pack with a 12% drop, closely followed by other altcoins like APT, LDO, FIL, and NEAR. From soaring highs to sudden lows, the market shift has been rapid, impacting investors and traders alike. đť
đ Bitcoinâs Uncertain Path
Bitcoin, while not suffering as much as its altcoin counterparts, has had its share of volatility. After a rally to $38,000, Bitcoin faced resistance and dropped below $36,000. Its market dominance, however, has seen an increase as altcoins face harsher declines. âż
đ Market Cap Takes a Hit
The total crypto market cap has witnessed over $70 billion evaporate, plummeting to below $1.4 trillion. This significant downturn is a reminder of the inherent risks and unpredictability of cryptocurrency investments. đš
đ¤ Navigating the Crypto Landscape
This recent market shake-up is yet another example of the crypto world's dynamic nature. Whether you're a seasoned trader or a newcomer, staying informed and cautious is key in navigating these turbulent waters.
đ Stay updated with The Blockopedia for more real-time market insights and analyses in the ever-changing world of cryptocurrencies. đđ
#loss #CryptoMarketSentimentđŹđđ #crypto #cryptocurrency #crypto2023
When you lost everything then these ideas đĄ come to our brain and we think every possibilities of not loose only Gain and win situation
so let's start the idea
If I had invested at 2010
1,000 Dollars on Gold
1,000 Dollars on Real Estate
1,000 Dollars on Bitcoin ?
At current price you will be having 4X profits in Gold.
You will be having 10-15X profits based on location where you invest.
But if I would have invested 1000$ on $BTC  then I would have bought around 29,122 bitcoins for 1,000Dollars and I would have 1245984770 Dollars in my bank account. Any one who invested 1000$ would have been billionaire by now.
In my childhood, I use to think in business and gold investments and real estate would give higher profits but no other investment would have given this many times higher returns.
I know me and lot of people missed this opportunity but nothing to worry about. Still, we can try to invest in top 10 coins and always should think our investments as long term investment.
Even though Iâm in loss of 72% in my portfolio. Still, I believe I will get profits in long term. Itâs better to not make same mistakes which we make as a beginner. We need to improve our knowledge everyday with more information.
#story  #gains  #loss $BTC  $SOL  #Write2Earn #TrendingTopic
so let's start the idea
If I had invested at 2010
1,000 Dollars on Gold
1,000 Dollars on Real Estate
1,000 Dollars on Bitcoin ?
At current price you will be having 4X profits in Gold.
You will be having 10-15X profits based on location where you invest.
But if I would have invested 1000$ on $BTC  then I would have bought around 29,122 bitcoins for 1,000Dollars and I would have 1245984770 Dollars in my bank account. Any one who invested 1000$ would have been billionaire by now.
In my childhood, I use to think in business and gold investments and real estate would give higher profits but no other investment would have given this many times higher returns.
I know me and lot of people missed this opportunity but nothing to worry about. Still, we can try to invest in top 10 coins and always should think our investments as long term investment.
Even though Iâm in loss of 72% in my portfolio. Still, I believe I will get profits in long term. Itâs better to not make same mistakes which we make as a beginner. We need to improve our knowledge everyday with more information.
#story  #gains  #loss $BTC  $SOL  #Write2Earn #TrendingTopic
If I had invested at 2010
1,000 Dollars on Gold
1,000 Dollars on Real Estate
1,000 Dollars on Bitcoin ?
At current price you will be having 4X profits in Gold.
You will be having 10-15X profits based on location where you invest.
But if I would have invested 1000$ on $BTC then I would have bought around 29,122 bitcoins for 1,000Dollars and I would have 1245984770 Dollars in my bank account. Any one who invested 1000$ would have been billionaire by now.
In my childhood, I use to think in business and gold investments and real estate would give higher profits but no other investment would have given this many times higher returns.
I know me and lot of people missed this opportunity but nothing to worry about. Still, we can try to invest in top 10 coins and always should think our investments as long term investment.
Even though Iâm in loss of 72% in my portfolio. Still, I believe I will get profits in long term. Itâs better to not make same mistakes which we make as a beginner. We need to improve our knowledge everyday with more information.
#story #gains #loss $BTC $SOL #Write2Earn #TrendingTopic
1,000 Dollars on Gold
1,000 Dollars on Real Estate
1,000 Dollars on Bitcoin ?
At current price you will be having 4X profits in Gold.
You will be having 10-15X profits based on location where you invest.
But if I would have invested 1000$ on $BTC then I would have bought around 29,122 bitcoins for 1,000Dollars and I would have 1245984770 Dollars in my bank account. Any one who invested 1000$ would have been billionaire by now.
In my childhood, I use to think in business and gold investments and real estate would give higher profits but no other investment would have given this many times higher returns.
I know me and lot of people missed this opportunity but nothing to worry about. Still, we can try to invest in top 10 coins and always should think our investments as long term investment.
Even though Iâm in loss of 72% in my portfolio. Still, I believe I will get profits in long term. Itâs better to not make same mistakes which we make as a beginner. We need to improve our knowledge everyday with more information.
#story #gains #loss $BTC $SOL #Write2Earn #TrendingTopic
Everyone is in lose ..But I will recover your loss By helping you but There are some rules That if you follow Then you can recover Your loss ..Never be greedy Avoid over trading playing with risk management + money management ..Iam going to give you personal signals For recovering your loss but profit 50% 50% If you want to work with me ..Message 03153634568#loss recovery
Whale Deposits Remaining 300B $PEPE to Binance, Closing First Trade with $2.28M Loss!
Approximately 4 hours ago, whale 0x837 deposited the remaining 300 billion PEPE, valued at $3.76 million, to Binance.
Address: 0x83768992b44f9afad68889ca59f36507fe00d8f7
In total, the whale deposited 1.4 trillion PEPE to Binance over the past 21 hours at an average price of $0.00001248, amounting to $17.47 million. This move allegedly marks the closure of the whale's first PEPE trade, resulting in an estimated loss of $2.28 million (-7.62%) after over a month of trading.
#pepe #Whaletraders #loss đ˘
Approximately 4 hours ago, whale 0x837 deposited the remaining 300 billion PEPE, valued at $3.76 million, to Binance.
Address: 0x83768992b44f9afad68889ca59f36507fe00d8f7
In total, the whale deposited 1.4 trillion PEPE to Binance over the past 21 hours at an average price of $0.00001248, amounting to $17.47 million. This move allegedly marks the closure of the whale's first PEPE trade, resulting in an estimated loss of $2.28 million (-7.62%) after over a month of trading.
#pepe #Whaletraders #loss đ˘
LIVE
EyeOnChain
--
Bearish
Whale 0x837 Transfers 1.1 Trillion $PEPE to Binance and Withdraws 1.21K ETH !
In the past 2 hours, whale 0x837 transferred 1.1 trillion PEPE, valued at $14.2 million, to Binance's deposit address 0x0b1. Concurrently, the whale withdrew 1.21K ETH, worth $4.098 million, from Binance.
Whale's Address: 0x83768992b44f9afad68889ca59f36507fe00d8f7
Binance Deposit Address: 0x0b12060099c0ec9c0ca818bf185192b3aea55b40
The whale still holds 300 billion PEPE, valued at $3.78 million, with an estimated total loss of $1.7 million (-5.69%).
In the past 2 hours, whale 0x837 transferred 1.1 trillion PEPE, valued at $14.2 million, to Binance's deposit address 0x0b1. Concurrently, the whale withdrew 1.21K ETH, worth $4.098 million, from Binance.
Whale's Address: 0x83768992b44f9afad68889ca59f36507fe00d8f7
Binance Deposit Address: 0x0b12060099c0ec9c0ca818bf185192b3aea55b40
The whale still holds 300 billion PEPE, valued at $3.78 million, with an estimated total loss of $1.7 million (-5.69%).
How Jimmy Survived the Mount Gox Collapse and Found New Hope! đľđđ
Jimmy, an early Bitcoin investor from Manila, Philippines, saw his dreams shattered when the Mount Gox exchange collapsed. Back in 2014, Jimmy had 120 Bitcoins stored on Mount Gox, an amount that represented his entire savings and hope for the future. When the exchange went bankrupt, Jimmy lost everything overnight. The shock and despair drove him to the brink, and he almost attempted to take his own life. With the support of his family and friends, Jimmy found the strength to move forward, though the road was tough.
Years later, there is finally a glimmer of hope. Mount Gox is set to compensate its users, including Jimmy, not in Bitcoins but in dollars. While this does not fully make up for the loss, it provides a much-needed lifeline. Jimmyâs story is one of immense loss but also resilience and the power of support from loved ones.
How would you cope with such a devastating loss? Are you ready to explore the lessons Jimmy learned and find hope in the face of adversity?
#mountgox #loss #recover #bitcoin $BTC
Jimmy, an early Bitcoin investor from Manila, Philippines, saw his dreams shattered when the Mount Gox exchange collapsed. Back in 2014, Jimmy had 120 Bitcoins stored on Mount Gox, an amount that represented his entire savings and hope for the future. When the exchange went bankrupt, Jimmy lost everything overnight. The shock and despair drove him to the brink, and he almost attempted to take his own life. With the support of his family and friends, Jimmy found the strength to move forward, though the road was tough.
Years later, there is finally a glimmer of hope. Mount Gox is set to compensate its users, including Jimmy, not in Bitcoins but in dollars. While this does not fully make up for the loss, it provides a much-needed lifeline. Jimmyâs story is one of immense loss but also resilience and the power of support from loved ones.
How would you cope with such a devastating loss? Are you ready to explore the lessons Jimmy learned and find hope in the face of adversity?
#mountgox #loss #recover #bitcoin $BTC
Embrace Diamond Hands, Avoid the Paper Trail in Trading!
Witness BTC12 Capital (leishen.eth) plunge into the markets, investing a daring $1.14M into $TURBO on the exhilarating day of May 7, 2023. Yet, the fleeting winds of change swept their fortune, leading to a regrettable sale merely 5 days later, resulting in a staggering loss of $658K (-58%).
Ah, but what if they had clung steadfast to their investment until this very day?
The story could have unfolded quite differently, with potential returns soaring beyond $4M!
Address: 0x07c2af75788814BA7e5225b2F5c951eD161cB589
#profit to #loss
Witness BTC12 Capital (leishen.eth) plunge into the markets, investing a daring $1.14M into $TURBO on the exhilarating day of May 7, 2023. Yet, the fleeting winds of change swept their fortune, leading to a regrettable sale merely 5 days later, resulting in a staggering loss of $658K (-58%).
Ah, but what if they had clung steadfast to their investment until this very day?
The story could have unfolded quite differently, with potential returns soaring beyond $4M!
Address: 0x07c2af75788814BA7e5225b2F5c951eD161cB589
#profit to #loss
Everyone is in lose ..But I will recover your loss By helping you but There are some rules That if you follow Then you can recover Your loss ..Never be greedy Avoid over trading playing with risk management + money management ..Iam going to give you personal signals For recovering your loss but profit 50% 50% If you want to work with me ..Message 03362088349#loss recovery
How is Electricity Theft Impacting Bitcoin Mining in Indonesia and China? đ¸
Indonesian law enforcement seized 1,134 Bitcoin mining machines in a crackdown on 10 operations, alleging electricity #theft nearing $1 million.
The North Sumatra Police closed down the multi-site operation, claiming organizers tampered with electrical circuits to power the machines. This resulted in an estimated #loss of 14.4 billion Indonesian rupiahs.
Additionally, a Chinese official was sentenced to life for enabling electricity access to a $329 million #Bitcoin mining enterprise, which at one point consumed 10% of a city's electricity supply.
These incidents highlight the serious impact of electricity theft on Bitcoin mining in Indonesia and China.
#Binance
#crypto2023
Indonesian law enforcement seized 1,134 Bitcoin mining machines in a crackdown on 10 operations, alleging electricity #theft nearing $1 million.
The North Sumatra Police closed down the multi-site operation, claiming organizers tampered with electrical circuits to power the machines. This resulted in an estimated #loss of 14.4 billion Indonesian rupiahs.
Additionally, a Chinese official was sentenced to life for enabling electricity access to a $329 million #Bitcoin mining enterprise, which at one point consumed 10% of a city's electricity supply.
These incidents highlight the serious impact of electricity theft on Bitcoin mining in Indonesia and China.
#Binance
#crypto2023