Crypto Market Struggles to find Support
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Cryptocurrency prices today: Bitcoin & Alts struggling to find a good support
Being down more than 4% over the previous 24 hours, the market capitalization of all cryptocurrencies today remained below the $1 trillion threshold.
Bitcoin, the largest cryptocurrency in the world, was trading more than 6% lower at $18.641 as cryptocurrency prices struggled to cling onto gains. Today's worldwide crypto market valuation was $956 billion, down more than 4% from the previous day, and so remained below the $1 trillion mark.
However, Ether, the second-largest cryptocurrency and coin linked to the Ethereum network, fell more than 7% to $1,275.
Shiba Inu decreased more than 5% to $0.000011, while Dogecoin's price gained about 5% to $0.05
Cryptocurrency worth crores is frozen by Kolkata Police in a case involving a gambling app scam :
The police have now frozen Kolkata-based businessman Aamir Khan's cryptocurrency wallet worth Rs 14.53 crore, which was maintained with the Binance platform in connection with a mobile gaming app E-Nuggets.
The mobile app fraud case was earlier registered by Kolkata Police in 2021 based on the complaint of a bank in which he had been on the run after the raid conducted by ED on his properties.
During the initial period, the users were rewarded with commission, and the balance in the wallet could be withdrawn in a hassle-free manner which provided initial confidence to the users, who started investing bigger amounts for greater percentage of commission and a greater number of purchase orders.
After collecting handsome amounts from the public, all of a sudden withdrawal from the said app was stopped on one pretext or the other. Thereafter, all data, including profile information, was wiped out from the said app server.
China foils a cryptocurrency-based money-laundering scheme worth up to $5.6 billion :
A big criminal organisation believed to have laundered up to 40 billion yuan ($5.61 billion) through the use of virtual currency has come under fire from authorities in China's Hunan Province, according to an official statement.
The Public Security Bureau of Hengyang in Hunan said the group was also suspected of being behind more than 300 cases involving telecommunications fraud.
According to a statement on the bureau's official social media account, authorities detained 93 people, confiscated 300 million yuan in cash, and also took possession of more than 100 laptops and mobile devices.
One dollar equals 7.1311 Chinese yuan renminbi.
Meanwhile, the cryptocurrency lender Voyager Digital was prevented from going out of business by the trade monster FTX US, which won the auction. the FTX US is founded by the Billionaire Sam Bankman-Fried
The agreement is worth $1.4 billion, $111 million of which is considered to have "incremental value." After the bankruptcy proceedings are heard, Voyager Digital customers will have access to their crypto assets, as stated by Voyager. According to Voyager Digital, this agreement between Voyager and FTX US has yet to be submitted to the US Bankruptcy Court for the Southern District of New York for approval on October 19.
Also, FTX US expected that existing Voyager customers were transferred to the FTX platform. On the platform, they could lay claim 'a pro rata share of the coins' the borrowers possess from the existing Voyager accounts. Now the market is yet to see how that will work out.