Flash Hike: Bitcoin [BTC] surges above $3,700; shatters short-term resistance points

The price of Bitcoin [BTC] saw a massive surge on January 19, 2019, at 10:00 UTC. The prices have now increased by a massive $110 in a matter of hours. The one-hour chart for Bitcoin shows that the price candle opened at 10:00 AM UTC [3:30 IST], and 15mins later, the prices jumped from $3,624 […]
Source: bitcoinwarrior
Flash Hike: Bitcoin [BTC] surges above ,700; shatters short-term resistance points

Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M

Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M

The plaintiff in a $224M lawsuit against wireless carrier AT&T has turned his attention to a new target. Michael Terpin’s legal team have filed a second suit, this time against 21-year-old Nicholas Truglia, dubbed the “bitcoin bandit� by the New York press. The Manhattan resident, who was arrested on unrelated SIM-swapping charges in November, now finds himself the target of an $81 million suit that seeks to invoke the RICO Act and land the fresh-faced defendant with a racketeering charge into the bargain.

Also read: Report: Bitcoin Use on Darknet Markets Doubled in 2018

Bitcoin Bandit Faces Fresh Legal Woe

Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M
Nicholas Truglia

Michael Terpin’s recent lawsuit, filed in the Superior Court of California on Dec. 28, 2018, names the defendant he believes responsible for stealing his cryptocurrency through a social engineering attack. Terpin has been fighting an ongoing battle against network operator AT&T for its complicity in facilitating the unauthorized transfer of his cell number to the thief’s handset. The incident enabled the attacker, who Terpin believes to be Nicholas Truglia, to steal $24 million worth of cryptocurrency.

In December, news.Bitcoin.com reported on Truglia’s extradition to California to face charges of stealing $1 million of cryptocurrency through SIM swapping, noting that “high profile figures Truglia is accused of targeting in this manner include Saswata Basu, CEO of 0Chain, and Gabrielle Katsnelson, co-founder of SMBX.� This week, Michael Terpin shared his reasons for filing the latest suit with news.Bitcoin.com.

When asked whether the $81 million RICO Act conversion and racketeering charge against Truglia would affect the ongoing suit against AT&T in any way, Terpin noted that the two cases are independent actions, but “we expect to obtain evidence in this suit that will bolster our claims against AT&T. Naturally, any funds we would recover from this suit may adjust the amount of primary damages we can be rewarded against AT&T, but much of our claim against them is for punitive damages.�

Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M

$60 Million in Crypto on Two Trezors

A trove of documents filed by Terpin’s lawyers, Greenberg Glusker, outlines a compelling prima facie case against the so-called bitcoin bandit. This includes a former friend of the 21-year-old, providing a statement in which he recalls that “Nick [Truglia] showed me two thumb drives (Trezors). One had over $40 million in cash value of various cryptos, and the other one had over $20 million cash value of various cryptos.�

Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81MMichael Terpin is seeking for the devices to be confiscated via a court order to recover cryptocurrency worth close to $24 million – the amount stolen from the plaintiff last year. Terpin reiterated to news.Bitcoin.com his belief that Truglia still has the hardware wallets he was allegedly showing off, noting that his lawyers “are diligently using subpoenas to locate these funds.�

When asked whether he would reach a settlement with Nicholas Truglia, lifting the RICO Act charges and the $81 million being sought in damages in return for recouping his stolen cryptocurrency, Terpin confirmed that he would “consider this a good outcome.� Truglia remains in custody on a $1.4 million bond, pending another court appearance on April 10 on unrelated SIM-swapping charges.

Do you think Michael Terpin will be successful in his lawsuit against Nicholas Truglia? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for $81M appeared first on Bitcoin News.


Source: bitcoin.com
Plaintiff in AT&T SIM-Swapping Case Sues ‘Bitcoin Bandit’ for M

Bitcoin: After Breaking Above $3,700 It Could Soon Surge Towards $4,100, Says Analyst

After a several day period with little volatility in the cryptocurrency markets, Bitcoin has now surged above $3,700, which proved to be a level of resistance over the past week. Today’s price surge, despite being relatively small, could be significant in leading Bitcoin’s price back towards $4,100.

One analyst also believes that Bitcoin’s latest price move could prove to be positive for the altcoin markets.

Bitcoin Surges Towards $3,800

At the time of writing, Bitcoin is trading up 2.6% at its current price of $3,750. Since last Monday, Bitcoin has been stuck below the $3,700 region, which quickly became a level of relative resistance for the cryptocurrency.

Yesterday, Luke Martin, a popular cryptocurrency analyst, noted that he thinks that Bitcoin was stuck below a trading range between approximately $3,700 and $4,100, which would mean a break above the former price could lead to surge towards the latter price in the low-$4,000 region.

He also noted that a break above $3,700 could prove positive for the altcoin markets.

“$BTC battling to reclaim the range all week. If price can get back above 3700 I’m more excited about alt positive momentum continuing,â€� Martin said in a tweet.

Today, after Bitcoin broke above $3,700, Martin followed up on this tweet, noting that he still agrees with the conditions mentioned in the first tweet, and that he still believes the range extends upwards of $4,000.

“$BTC breakout past 3630 level and the 3700 swing high resistance all week. Same thought as first chart and now the condition looks like it will met [sic]. I’ve loved mid-cap alt exposure this week for the first time in a while. Bitcoin moving higher means that window still there imo,� he said.

Analysts Have Conflicting Opinions on Current Trading Ranges

Although Martin believes Bitcoin is currently caught in a micro trading range between $3,700 and $4,100, other prominent analysts have offered somewhat different views.

Earlier this month, Mati Greenspan, the senior market analyst at eToro, said that he believes Bitcoin is currently caught in a range between $3,550 and $4,200, which, if this range is valid, somewhat negates the importance of $3,700.

“It seems now, that bitcoin has opened a new mini-range within that from $3,550 to approximately $4,200… unless there’s a breakout of the key levels there really isn’t much to write home about,� he said.

How the markets fare over the weekend will likely set the tone for the following week.

Featured image from Shutterstock.

The post Bitcoin: After Breaking Above $3,700 It Could Soon Surge Towards $4,100, Says Analyst appeared first on NewsBTC.


Source: newsbtc
Bitcoin: After Breaking Above ,700 It Could Soon Surge Towards ,100, Says Analyst

Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports

Venezuela, the country seeing new Bitcoin trade volume records on an almost weekly basis, is to get its first ever Bitcoin ATM.


Cryptobuyer: ATM Already In Caracas

In an interview with local radio and news media network Union Radio, Jorge Farias, CEO of Panama-based Cryptobuyer, said the machine had already arrived in the country’s capital Caracas.

“We are going to install the first cryptocurrency ATM in Venezuela over the course of the next two weeks,� he told the network.

…We already have the equipment physically installed in Venezuela, in Caracas; it’s in its final test stage and we will then be making an announcement on social networks.

The pioneering move comes amid ever more difficult times for Venezuelans.

Venezuela's Central Bank Unveils App to Convert New Crypto-Pegged ‘Sovereign Bolivar’

As Bitcoinist variously reported, a toxic mixture of hyperinflation, travel and forex restrictions has made life for the average citizen often impossible.

At the same time, Venezuela’s government has pushed an agenda involving its state-issued cryptocurrency Petro, recently beginning to require certain payments – such as passports – only use the asset.

Petro has had a dubious reputation since inception, reports claiming that despite its peg to Venezuela’s $6 billion oil float, its backer in the form of state oil company PDVSA has $45 billion debts which undermine its status as a store of value.

Localbitcoins ‘Not Working’

It is thus little surprise that P2P Bitcoin trading has exploded, especially over the last six months of 2018.

According to the latest data from Coin Dance, the week ending January 5 was the second busiest on record for the Venezuelan Bolivar (VES) on Localbitcoins, with a total of 5.15 billion changing hands.

This was followed a dramatic drop for the week ending January 12, will social media commentators reporting the service was no longer accessible from inside Venezuela.

Cryptobuyer is first and foremost a merchant acceptance platform for Bitcoin (BTC), Litecoin (LTC) and Dash (DASH), and at present only lists a modest network of five ATMs in Panama City. Its operational machines cater to all three cryptocurrencies.

Worldwide, the number of Bitcoin ATMs continues to expand. A deal announced this week between the first US operator, Coinme, and change counter Coinstar, could see up to 20,000 extra locations appear in the US soon.

What do you think about Venezuela’s Bitcoin ATM? Let us know in the comments below!


Images courtesy of Shutterstock

The post Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports appeared first on Bitcoinist.com.


Source: bitcoinist
Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports

Exchange Bitcoin Cash [BCH] to Bitcoin [BTC] or any other altcoin at best rates with this unique crypto-trading platform: CoinSwitch

What is Bitcoin [BTC] & what is Bitcoin Cash [BCH] Bitcoin is a digital currency in which a record of transactions is maintained and new units of currency are generated. Bitcoin Cash’s main goal is to raise the quantity of transactions that can be processed by the network, expecting that Bitcoin Cash will be capable […]
Source: bitcoinwarrior
Exchange Bitcoin Cash [BCH] to Bitcoin [BTC] or any other altcoin at best rates with this unique crypto-trading platform: CoinSwitch

Vinny Lingham: Crypto Market Won’t Recover Anytime Soon

Vinny Lingham, a general partner at Multicoin Capital and the CEO of Civic, believes the crypto market won’t recover any time soon. He said: The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory. Don’t underestimate the power of psychology in free markets. Why […]
Source: worldnewsoffice
Vinny Lingham: Crypto Market Won’t Recover Anytime Soon

Flash Hike: XRP crosses $0.34 resistance; Ethereum [ETH] registers 3% growth over the hour

The cryptocurrency marker that was laying low, has suddenly spiked, with most major coin noting a growth of over 2% in the past hour. This included the second-largest coin, XRP, and the third-largest coin, Ethereum [ETH]. XRP Source: Trading view At the time or press, XRP was valued at $0.3423, with a market cap of […]
Source: bitcoinwarrior
Flash Hike: XRP crosses {$permalink}.34 resistance; Ethereum [ETH] registers 3% growth over the hour

Cumulative Volume on Huobi Derivative Market Exceeds $20 Billion

Huobi has announced that its cryptocurrency derivative platform, Huobi DM, has surpassed $20 billion in cumulative trading volume. The announcement comes just one month after the platform exited beta mode.

Also Read: Eastern European P2P Markets See Strongest BTC Volume in Over 12 Months 

Huobi DM Cumulative Trade Volume Doubles in 2 Weeks

Cumulative Volume on Huobi Derivative Market Exceeds $20 BillionHuobi Derivative Market has announced that the cumulative trade volume on the platform has exceeded $20 billion as of Jan. 12, 2019. As such, cumulative trade on the platform doubled in just 15 days.

Huobi’s derivative platform launched in beta on Nov. 21, 2018, for BTC contract trading only. On Dec. 10, 2018, Huobi DM exited beta mode and was integrated with Huobi Global and posted a 24-hour volume of $195 million.

On Christmas day, Huobi announced that daily trade volume had surpassed $1 billion for the first time. On Dec. 28, 2018, Huobi DM claimed that cumulative volume on the platform had exceeded $10 billion alongside the launch of EOS contract trading.

Livio Weng, the chief executive officer of Huobi Global, stated that he is “pleased� with the strong response,� describing the platform’s growth as “explosive,� despite the cryptocurrency markets being “in the midst of an ongoing bear market.�

Bittrade Merger Facilitates Japanese Relaunch for Huobi

Cumulative Volume on Huobi Derivative Market Exceeds $20 BillionOn Thursday, Huobi announced that it had relaunched a fully regulated exchange under Japan’s Financial Services Agency (FSA) following a merger with Bittrade. As such, Huobi Japan has been granted one of the first 17 licenses issued by the FSA.

The founder of Huobi Group, Leon Li, stated that the relaunch was an “important milestone,� emphasizing the importance of the Japanese market to the company. Li also described working with regulators as “a longstanding priority for Huobi Group.�

Huobi Japan currently supports BCH, BTC, ETH, LTC, XRP, and MONA pairings.

Do you think that cryptocurrency derivative markets will come to dwarf the spot markets in trade volume in coming years? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Source: bitcoin.com
Cumulative Volume on Huobi Derivative Market Exceeds Billion