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The Incredible Story of a Guy Who Became a Bitcoin Billionaire Through a Daring Theft
Have you ever dreamed of becoming rich overnight? Being in the right place at the right time and doing something risky but profitable? For Jimmy Zhong, that dream became a reality when he stole over 50,000 bitcoins from the shadowy Silk Road site in 2012. But his story is not just a dizzying rise to wealth. It's an exciting narrative about a guy who grew up in poverty but managed to outsmart an entire system in pursuit of financial freedom.
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Abakan resident lost 5 million rubles in an attempt to make money on cryptocurrencies
A young Abakan resident trusted a certain "trade manager" from the Internet, who convinced him to invest in cryptocurrencies. First, the "investor" transferred 100,000 rubles to the scammers, and over the next week, he was convinced to invest almost 5 million rubles more. To do this, the Abakan resident took out loans. The victim transferred the funds to the accounts and phone numbers of individuals.
At first, the scammers allowed the young man to withdraw 320,000 rubles of "profit", which strengthened his trust. However, then the funds stopped coming - the "trade manager" found various reasons to delay payments, and then completely stopped communicating. The police opened a criminal case under Part 4 of Article 159 of the Criminal Code of the Russian Federation "Fraud on an especially large scale".
In October, it was reported that a resident of Novorossiysk lost 12 million rubles on a fraudulent crypto platform.
A young Abakan resident trusted a certain "trade manager" from the Internet, who convinced him to invest in cryptocurrencies. First, the "investor" transferred 100,000 rubles to the scammers, and over the next week, he was convinced to invest almost 5 million rubles more. To do this, the Abakan resident took out loans. The victim transferred the funds to the accounts and phone numbers of individuals.
At first, the scammers allowed the young man to withdraw 320,000 rubles of "profit", which strengthened his trust. However, then the funds stopped coming - the "trade manager" found various reasons to delay payments, and then completely stopped communicating. The police opened a criminal case under Part 4 of Article 159 of the Criminal Code of the Russian Federation "Fraud on an especially large scale".
In October, it was reported that a resident of Novorossiysk lost 12 million rubles on a fraudulent crypto platform.
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The former German finance minister stated that "the time has come to recognize the potential of BTC in Germany"🇩🇪
Everything would be fine, but in July Germany sold all its 50,000 BTC at $53,000.
Everything would be fine, but in July Germany sold all its 50,000 BTC at $53,000.
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Thai Authorities Charge Singaporean With $657,000 Crypto Scam
According to police, the man was involved in creating a fake mobile app that resembled the cryptocurrency trading platform Tidex. The fake app promised investors high returns on their investment. The Bangkok Online Fraud Prevention Center found that victims who fell into the scammers' trap made at least 17 money transfers to the platform.
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Trader in meme coin PEPE increased investments by 1,900,000 times✅
A trader who invested $27 in the meme token Pepe received an incredible profit of $52 million.
A major holder of PEPE, who had been inactive for 600 days, transferred all of their 2.1 trillion meme coins to a new address. From $27 to $52 million — an incredible profit of 1,900,000 times!
Since the beginning of January, Pepe has risen by 1600% and has become the second most profitable cryptocurrency in 2024. Thanks to such a rapid rise, in May another enterprising investor in Pepe turned $3000 into $46 million.
This year, meme coins have proven to be some of the most profitable. For instance, the meme token Dogwifhat (WIF) based on Solana has risen by 1400%.
According to Hao Yan, head of the financial products department at the cryptocurrency exchange Bybit, the ongoing success of meme coins can be seen as a sign of disillusionment among the younger generation with the financial system.
The success of meme coins can be viewed as a sign of disappointment among young investors who have seen the opportunities available to their parents disappear.
$PEPE #meme_coin
A trader who invested $27 in the meme token Pepe received an incredible profit of $52 million.
A major holder of PEPE, who had been inactive for 600 days, transferred all of their 2.1 trillion meme coins to a new address. From $27 to $52 million — an incredible profit of 1,900,000 times!
Since the beginning of January, Pepe has risen by 1600% and has become the second most profitable cryptocurrency in 2024. Thanks to such a rapid rise, in May another enterprising investor in Pepe turned $3000 into $46 million.
This year, meme coins have proven to be some of the most profitable. For instance, the meme token Dogwifhat (WIF) based on Solana has risen by 1400%.
According to Hao Yan, head of the financial products department at the cryptocurrency exchange Bybit, the ongoing success of meme coins can be seen as a sign of disillusionment among the younger generation with the financial system.
The success of meme coins can be viewed as a sign of disappointment among young investors who have seen the opportunities available to their parents disappear.
$PEPE #meme_coin
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Detective uncovers 'pig butchering' scam and helps recover $500,000
Happycoin.club - source
A harmless friendly message from a stranger on social media can sometimes lead to financial ruin. This bitter conclusion has already been reached by tens of thousands of people.
Fraud known as 'pig butchering' often involves a lengthy establishment of trust and the scammers offering to invest in popularizing cryptocurrencies.
A harmless friendly message from a stranger on social media can sometimes lead to financial ruin. This bitter conclusion has already been reached by tens of thousands of people.
Fraud known as 'pig butchering' often involves a lengthy establishment of trust and the scammers offering to invest in popularizing cryptocurrencies.
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Drake's Twitter account with 39 million followers was hacked to promote a shitcoin on Solana✖️
The trading volume of the token at its peak reached $5 million, the number of affected users is currently unknown.
The trading volume of the token at its peak reached $5 million, the number of affected users is currently unknown.
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As reported by the spokesperson of the regional police department Shukhrat Jalilov, the police have initiated a criminal case under part 3 of article 278-8 of the Criminal Code (violation of legislation in the field of cryptocurrency circulation in particularly large amounts). The teenager faces imprisonment for a term of 3 to 5 years. However, if he actively assists in solving the crime, he may avoid liability.
It is still unknown on which platforms the suspect traded. According to the Milliy TV channel, a resident of the mahalla (Muslim community) 'Zarafshan' was engaged in the illegal circulation of cryptocurrency. A preliminary investigation is currently underway to establish all the circumstances of the crime.
We remind you that at the beginning of this year, the authorities of Uzbekistan introduced criminal liability for illegal mining and illegal circulation of crypto assets. At the same time, Uzbekistan became the leader in the RISE Research ranking for cryptocurrency adoption.
It is still unknown on which platforms the suspect traded. According to the Milliy TV channel, a resident of the mahalla (Muslim community) 'Zarafshan' was engaged in the illegal circulation of cryptocurrency. A preliminary investigation is currently underway to establish all the circumstances of the crime.
We remind you that at the beginning of this year, the authorities of Uzbekistan introduced criminal liability for illegal mining and illegal circulation of crypto assets. At the same time, Uzbekistan became the leader in the RISE Research ranking for cryptocurrency adoption.
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Riot Platforms announced that it acquired 5,117 bitcoins
On Friday, Riot Platforms announced that from December 10 to 12, 2024, it acquired 5,117 bitcoins.
The latest acquisition by the bitcoin miner of the largest digital asset cost approximately $510 million at an average price of about $99,669 per bitcoin, including fees and expenses.
The company has now increased its total bitcoin holdings to 16,728.
The latest acquisition by the bitcoin miner of the largest digital asset cost approximately $510 million at an average price of about $99,669 per bitcoin, including fees and expenses.
The company has now increased its total bitcoin holdings to 16,728.
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Bank of Zoomers
Students jokingly created FPI Bank (fpifpi ru) and launched a token on TON – FPIBANK. Trading on the first day amounted to $1.1 million.
Now the guys, instead of doing algebra, are planning an attack on Reddit and Twitter.
The main ideologist already calls himself the CEO and plans to launch a real bank.
FPI stands for "Fufelshmertz Malice Incorporated". It seems we've found Satoshi's grandson?
Students jokingly created FPI Bank (fpifpi ru) and launched a token on TON – FPIBANK. Trading on the first day amounted to $1.1 million.
Now the guys, instead of doing algebra, are planning an attack on Reddit and Twitter.
The main ideologist already calls himself the CEO and plans to launch a real bank.
FPI stands for "Fufelshmertz Malice Incorporated". It seems we've found Satoshi's grandson?
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Happycoin.club - The elected president Donald Trump is once again in the spotlight after his new cryptocurrency project World Liberty spent 12 million USDC on the purchase of Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
According to EtherScan data analyzed by Lookonchain, the wallet associated with World Liberty spent 10 million USDC to purchase 2631 ETH at an average price of $3801 per coin. An additional 2 million USDC was converted into 41,335 LINK tokens (average price $24.2) and 3357 AAVE at $297.8 per token.
Currently, World Liberty Financial's cryptocurrency wallets hold 14,573 ETH, 3,108,000 USDT, 1,515,000 USDC, 41,335 LINK, and 3,357 AAVE. Among other project assets are LimeWire (LMWR), Alchemy Pay (ACH), Wrapped Ether (WETH), Safe (SAFE), and Uniswap (UNI).
Additionally, World Liberty Financial has its own token WLFI. The asset sale started on October 15 and was open to everyone on the "whitelist." According to the official project website, a total of 4.43 billion WLFI was sold for $66.2 million. Currently, about 15.592 billion tokens are available.
20% of the total WLFI tokens were allocated to the founding team, including Donald Trump and his sons. 17% is allocated for user rewards, while the remaining 63% will go to investors.
#ETH #LINK💰 #AAVE
According to EtherScan data analyzed by Lookonchain, the wallet associated with World Liberty spent 10 million USDC to purchase 2631 ETH at an average price of $3801 per coin. An additional 2 million USDC was converted into 41,335 LINK tokens (average price $24.2) and 3357 AAVE at $297.8 per token.
Currently, World Liberty Financial's cryptocurrency wallets hold 14,573 ETH, 3,108,000 USDT, 1,515,000 USDC, 41,335 LINK, and 3,357 AAVE. Among other project assets are LimeWire (LMWR), Alchemy Pay (ACH), Wrapped Ether (WETH), Safe (SAFE), and Uniswap (UNI).
Additionally, World Liberty Financial has its own token WLFI. The asset sale started on October 15 and was open to everyone on the "whitelist." According to the official project website, a total of 4.43 billion WLFI was sold for $66.2 million. Currently, about 15.592 billion tokens are available.
20% of the total WLFI tokens were allocated to the founding team, including Donald Trump and his sons. 17% is allocated for user rewards, while the remaining 63% will go to investors.
#ETH #LINK💰 #AAVE
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The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a pastor — he is accused of stealing $6,000,000 as part of a cryptocurrency Ponzi scheme that affected 1,500 people, including members of his church in Washington state.
According to the CFTC, the pastor claimed to run a cryptocurrency trading platform with guaranteed returns of up to 35%.
According to the CFTC, the pastor claimed to run a cryptocurrency trading platform with guaranteed returns of up to 35%.
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Bloomberg: The US Plan to Create a National Reserve in Bitcoins Will Be the Greatest Scam
Bloomberg does not understand what objectives this initiative will serve. When it comes to ordinary strategic reserves, such as oil, it is done to support the economy and protect the country's interests. The Bitcoin reserve has no such purpose, the editorial article points out.
“Bitcoin cannot find industrial application, it does not claim to have real cash flows and is not tied to the real economy. It is purely a speculative instrument. Its price entirely depends on how much a bigger fool is willing to pay,” writes Bloomberg.
“Bitcoin cannot find industrial application, it does not claim to have real cash flows and is not tied to the real economy. It is purely a speculative instrument. Its price entirely depends on how much a bigger fool is willing to pay,” writes Bloomberg.
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In the past day, traders have disposed of Ethereum worth $2.5 billion
Over the past 24 hours, traders have sold off Ethereum valued at $2.5 billion, causing a sharp decline in the coin's price.
On Monday evening, the price of Ethereum plummeted and by midnight had dropped by 12%, reaching a minimum value since the end of November at $3491. The dump occurred due to a sudden increase in the number of sold assets, as traders decided to take profits.
One of the crypto whales who recently sold Ethereum was Justin Sun, the founder of the blockchain project Tron. On December 8, he sold 29,920 ETH for $119.7 million when the coin's price exceeded $4000. Since the beginning of the year, Sun has parted with 392,474 ETH at an average price of $3027 and has made nearly $1.2 billion from the coins.
Today, the price of Ethereum exceeded 23.6% of the Fibonacci level, taking into account the increase in the asset's value from $2364 to $4095 during the Trump pump. It can be assumed that the bearish trend has ended, and the altcoin will rise in value again. However, judging by the low demand for ETH, the upward movement will be slow, and traders should not expect sharp price jumps.
Likely trajectory of Ethereum's price change
#ETH
Over the past 24 hours, traders have sold off Ethereum valued at $2.5 billion, causing a sharp decline in the coin's price.
On Monday evening, the price of Ethereum plummeted and by midnight had dropped by 12%, reaching a minimum value since the end of November at $3491. The dump occurred due to a sudden increase in the number of sold assets, as traders decided to take profits.
One of the crypto whales who recently sold Ethereum was Justin Sun, the founder of the blockchain project Tron. On December 8, he sold 29,920 ETH for $119.7 million when the coin's price exceeded $4000. Since the beginning of the year, Sun has parted with 392,474 ETH at an average price of $3027 and has made nearly $1.2 billion from the coins.
Today, the price of Ethereum exceeded 23.6% of the Fibonacci level, taking into account the increase in the asset's value from $2364 to $4095 during the Trump pump. It can be assumed that the bearish trend has ended, and the altcoin will rise in value again. However, judging by the low demand for ETH, the upward movement will be slow, and traders should not expect sharp price jumps.
Likely trajectory of Ethereum's price change
#ETH
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Bitcoin Retreats as Euphoria Fades Around Trump's Policies
At the beginning of the week, the cryptocurrency market experienced a wave of sell-offs as the optimism triggered by Trump's victory began to fade, writes Bloomberg.
On Monday, Bitcoin briefly fell to $94,255, while the index of smaller digital assets dropped by 15%, marking one of the largest intraday declines this year.
On Monday, Bitcoin briefly fell to $94,255, while the index of smaller digital assets dropped by 15%, marking one of the largest intraday declines this year.
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Peter Schiff: 'Bitcoin is public enemy number one'
Peter Schiff has once again made critical remarks directed at the Bitcoin community. He is convinced that participants in the crypto industry are profoundly mistaken in thinking that gold is losing its utility and properties as a fundamental reserve asset. In Schiff's opinion, gold is the most useful metal, in demand, and capable of strengthening the country's economy, unlike Bitcoin.
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Happycoin.club - The Cardano Foundation account on the banned social media platform X (formerly Twitter) was hacked early last Sunday morning. The messages that followed announced major changes, including a halt in trading and an ADA burn.
One message claimed that the US Securities and Exchange Commission (SEC) had filed a lawsuit against the Cardano Foundation.
Due to the unexpected lawsuit, we have made the difficult decision to immediately stop all support for the ADA token to ensure regulatory compliance.
The timing of the fake news was well chosen, as the community is expecting increased enforcement against crypto projects ahead of Gary Gensler's resignation.
To "calm" the worried community, the scammers introduced a new token, ADASOL, supposedly "an improved version of Cardano, with the speed and innovation of Solana."
Luckily, the Cardano Community team was able to regain access to their account fairly quickly:
The Cardano Foundation X account has been hacked. Please ignore any messages from it until we have resolved the issue.
#ADA #CardanoFoundation #SEC
One message claimed that the US Securities and Exchange Commission (SEC) had filed a lawsuit against the Cardano Foundation.
Due to the unexpected lawsuit, we have made the difficult decision to immediately stop all support for the ADA token to ensure regulatory compliance.
The timing of the fake news was well chosen, as the community is expecting increased enforcement against crypto projects ahead of Gary Gensler's resignation.
To "calm" the worried community, the scammers introduced a new token, ADASOL, supposedly "an improved version of Cardano, with the speed and innovation of Solana."
Luckily, the Cardano Community team was able to regain access to their account fairly quickly:
The Cardano Foundation X account has been hacked. Please ignore any messages from it until we have resolved the issue.
#ADA #CardanoFoundation #SEC
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In the latest report, analysts from CryptoRank named the 'fattest' Bitcoin wallets
The largest amount of Bitcoin (248,598 BTC) is held in the cold wallet of Binance. This is 1.26% of the total supply of the flagship cryptocurrency, with the asset value exceeding $24.33 billion.
Another cold wallet of Binance, discovered by CryptoRank, ranks fourth and holds 102,552 BTC.
This is 0.52% of the total volume of Bitcoins, which is currently valued at $10.03 billion. The second and third places are occupied by cryptocurrency wallets on centralized exchanges Bitfinex and Robinhood.
According to CryptoRank, the ten richest Bitcoin wallets account for 5.27% of the total volume of the flagship asset. At the same time, two addresses hold BTC seized by the US government after the hacking of the Mt. Gox exchange. Another wallet contains Tether reserves in Bitcoin.
Traders are monitoring the activity of wallets holding significant amounts of BTC, as the movement of large sums of assets can affect the price of the cryptocurrency.
Currently, many market participants are concerned about rumors that the Biden administration plans to sell digital assets from US government wallets.#BTC
The largest amount of Bitcoin (248,598 BTC) is held in the cold wallet of Binance. This is 1.26% of the total supply of the flagship cryptocurrency, with the asset value exceeding $24.33 billion.
Another cold wallet of Binance, discovered by CryptoRank, ranks fourth and holds 102,552 BTC.
This is 0.52% of the total volume of Bitcoins, which is currently valued at $10.03 billion. The second and third places are occupied by cryptocurrency wallets on centralized exchanges Bitfinex and Robinhood.
According to CryptoRank, the ten richest Bitcoin wallets account for 5.27% of the total volume of the flagship asset. At the same time, two addresses hold BTC seized by the US government after the hacking of the Mt. Gox exchange. Another wallet contains Tether reserves in Bitcoin.
Traders are monitoring the activity of wallets holding significant amounts of BTC, as the movement of large sums of assets can affect the price of the cryptocurrency.
Currently, many market participants are concerned about rumors that the Biden administration plans to sell digital assets from US government wallets.#BTC
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#Bitcoin Flash Crash Analysis: What Happened?
Market Overview
Bitcoin ($BTC /USDT) has faced extreme volatility, dropping sharply after reaching a new ATH (All-Time High) of $108,300. Within 20 minutes, $BTC plummeted to a low of $106,200, wiping out nearly $2,500 in value in an unusually rapid move.
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Key Observations
1. Sudden Drop:
$BTC experienced a dramatic fall, signaling heavy selling pressure or a potential liquidity issue. Such quick moves often occur due to liquidations of leveraged positions.
2. Market Reaction:
Volatility spiked as traders scrambled to react, leading to stop-loss triggers and panic selling, which further accelerated the decline.
3. Volume Surge:
A surge in trading volume during the drop suggests large market participants (whales) or institutions may have initiated the sell-off.
---
Technical Levels
Resistance: $108,300 (recent high) remains the key barrier. A break above this is required for bullish continuation.
Immediate Support: $106,200 – BTC is attempting to stabilize around this level.
Critical Support: If selling pressure continues, BTC could test the next key zone at $105,500, and failure there may lead to a further dip toward $103,800.
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Reasons for the Drop
1. High Leverage:
Excessive leveraged long positions could have triggered cascading liquidations.
2. Market Exhaustion:
After hitting a new high, traders might have started booking profits, creating downward momentum.
3. Whale Activity:
Large sell orders can disrupt the order book and cause sharp price declines.
---
Short-Term Targets
Bearish Scenario: If BTC fails to hold $106,200, expect a further drop toward $105,500 and potentially $103,800.
Bullish Recovery: BTC must reclaim $107,500 for any upward move. A breakout above $108,300 would shift momentum back to the bulls.
#BTCNewATH #PENGUOpening #BinanceAlpha #Write2Earn!
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