PUMP breaks out on the charts as whales return. But is this rally here to stay?
A Canadian teen has been sentenced for a $37 million Bitcoin (BTC) heist and the hacking of several X accounts. This follows on-chain sleuth ZachXBT’s calls for stricter penalties against SIM swapping and social engineering fraudsters. Suspect’s Sentence ZachXBT revealed via a July 29 X post that Cameron Redman had been convicted and ordered to pay compensation following his involvement in a $37 million Bitcoin theft and a related X hacking case that the investigator had uncovered. Court documents show that Redman has been sentenced to 12 months and 1 day, followed by a three-year supervised release term for each count, with all sentences to be served concurrently. He has also been ordered to pay a $400 special assessment, $248,257.07 in restitution, and a $60,000 fine. On February 22, 2020, the Canadian teenager used a SIM swap attack to take control of crypto investor Josh Jones’s mobile number, allowing him to bypass two-factor authentication and access his wallets. He then stole 1,547 BTC and 60,000 Bitcoin Cash (BCH), valued at around $37 million at the time. Following the theft, Redman began laundering the stolen assets through hundreds of small transactions. These tokens were eventually funneled through centralized exchanges in an attempt to hide the trail. The perpetrator was later linked to phishing scams and the hacking of several NFT profiles on X. According to ZachXBT, in June 2022, Redman offered access to an internal X panel for sale on the platform SWAPD. This was then sold for 250 ETH and led to the compromise of over 10 accounts and the theft of millions through phishing scams. The detective added that the Canadian youth initially used fake identity documents on SWAPD before submitting his real information, withdrew the sale proceeds through Tornado Cash, and then deposited the funds into a Stake account. On-chain data linked the wallet he used to the compromised X accounts. The investigation identified victims, including Beeple, DeeKay, Zeneca, Nouns DAO, and JRNY Club. Calls for Tougher Rules The suspect was formally charged on November 17, 2021, by Hamilton Police in Ontario. Authorities recovered $5.4 million in crypto, but the remaining $31.5 million is still missing. At the time of his arrest, Redman was still legally underage, which meant his name remained sealed and his photo was not released. ZachXBT has previously highlighted how this kind of secrecy is part of the problem, saying the convicted criminal’s identity should have been revealed earlier on to prevent further unlawful conduct. Such cases are on the rise, with research from Keepnet Labs showing a 1,055% increase in SIM swap incidents in the UK in 2024. Elliptic’s State of Crypto Scams 2025 analysis also highlighted phishing as a key method used by cybercriminals like North Korea’s Lazarus, with attackers increasingly automating campaigns using AI tools. Meanwhile, ZachXBT previously reported that between November and December last year, a single hacker breached over 15 X accounts, stealing more than $500,000. The post Canadian Teen Convicted in $37M Bitcoin Heist and 2020 X Hacking Spree appeared first on CryptoPotato .
Although XRP has gained some ground in the last 24 hours in a bid to breach the $3 resistance, the asset’s technical structure is painting a concerning picture for the short term. According to analysis by Ali Martinez, the TD Sequential recently flashed a sell signal on the three-day chart, prompting a notable price pullback below the $3 mark, he noted in an X post on August 3. The warning signal came after XRP reached highs above $3.60, with the bearish cue suggesting that the latest rally could be running out of steam. The 9-count TD Sequential signal, known for predicting trend exhaustion, appeared just as XRP approached a resistance zone between $3.60 and $4. Since then, prices have been sliding steadily, and the token is now approaching a key short-term support level. XRP price analysis chart. Source: TradingView At the same time, on-chain data shows that past accumulation behavior points to $2.80 as a temporary buffer for XRP, but real support begins below $2.48. To this end, Martinez identified $2.40 as the critical zone to watch. If XRP continues to bleed lower, this level could act as a final line of defense for bulls to regroup. A failure to hold above $2.40 may open the door for deeper losses, possibly revisiting the $2.00 region. XRP URPD price chart. Source: Glassnode XRP price analysis At press time, XRP was trading at $2.92, having rallied over 5% in the last 24 hours. On the weekly timeframe, however, the asset has plunged nearly 10%. XRP seven-day price chart. Source: Finbold At the current value, XRP’s 50-day Simple Moving Average ( SMA ) of $2.65 shows the price is holding above the short-term trend, hinting at bullish sentiment. Meanwhile, the 200-day SMA at $1.875269 reflects a long-term upward trend. Featured image via Shutterstock The post XRP flashes major ‘sell signal’ as temporary price buffer is identified appeared first on Finbold .
Mark Yusko, CEO of Morgan Creek Capital, expects roughly $300 billion to pour into Bitcoin and crypto markets over the next 12 months.
Tech companies race to develop quantum computing technology, impacting digital asset security. Elon Musk questions Bitcoin's resilience against quantum computing, sharing insights via AI. Continue Reading: Elon Musk Raises Concerns About Bitcoin’s Quantum Computing Challenge The post Elon Musk Raises Concerns About Bitcoin’s Quantum Computing Challenge appeared first on COINTURK NEWS .
Altcoin investors are known for their agility—moving capital toward the next breakout before it hits the mainstream. That’s why all eyes are now on the meme coin sector, where legacy players like Shiba Inu (SHIB) are starting to show signs of exhaustion. SHIB, despite its iconic run, has stalled in recent weeks, leaving some holders to explore fresher, lower-cap alternatives. These moves often happen before the crowd notices, and this time, one particular token is drawing that attention. Analysts now predict a potential 27x return from MAGACOIN FINANCE if current adoption patterns hold. Why SHIB Momentum May Be Peaking After peaking in early 2021, SHIB’s community remained one of the strongest in crypto. But in 2025, price action has been relatively flat. As market-wide liquidity picks up, especially in the meme sector, investors are beginning to rotate funds from older assets into tokens that have yet to experience exponential gains . Blockchain data already shows capital migration toward emerging tokens with meme power, tight supply curves, and high virality. For SHIB holders seeking the next wave, the challenge lies in identifying early-stage projects before listings drive prices up . MAGACOIN FINANCE: The Quiet Giant Before the Roar One such project now gaining momentum is MAGACOIN FINANCE. With politically charged branding, a fast-expanding online community, and explosive early-stage engagement, it’s emerging as a major contender. According to recent projections, a 27x price explosion might be on the table if current trajectory and adoption patterns continue. What makes MAGACOIN FINANCE unique is its combination of viral market appeal and early access scarcity. Market researchers now compare its adoption velocity to the early days of SHIB itself – a coin that also saw explosive early growth due to community intensity and narrative pull. MAGACOIN FINANCE is currently in a limited-access stage, and as new investors pile in, the window for strategic entry narrows with each passing day. Analysts and early traders are calling this moment one of the final chances to participate before it hits broader exchanges. Conclusion As the meme coin cycle enters a new phase, projects with strong branding and active communities are dominating social charts. While SHIB’s role in the meme ecosystem remains foundational, capital tends to flow toward asymmetrical opportunities. That dynamic shift is now favoring tokens still in their early momentum phase. Meme coin cycles reward timing. SHIB had its moment, but new tokens are attracting both retail attention and analyst optimism. With MAGACOIN FINANCE’s 27x upside now circulating among researchers and trading desks, many believe it may be the next to explode. Whether it surpasses SHIB remains to be seen—but the clock for early access is ticking . To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com X: https://x.com/magacoinfinance Telegram: https://t.me/magacoinfinance Continue Reading: Shiba Inu Faces New Competition—Altcoin Investors Shift to This Trending Token
Eight days ago, the network hit a peak of 943 exahash per second (EH/s). Since that high point on July 26, roughly 44.8 EH/s has vanished. Bitcoin Hashprice Falls 11.65% in 30 Days Hashrate has dipped 4.75% over the past eight days, slipping below the 900 EH/s threshold. As of Aug. 3, it’s hovering at
Macro guru Luke Gromen says the rise of Bitcoin ( BTC ) treasury companies is a logical response to the US government’s continued debasement of the dollar. In a new video update on YouTube, Gromen says investors are currently reacting to a large-scale financial bubble that has been “kicked upstairs” through the stock, banking, and housing markets before finally being pushed into the Treasury market. Gromen notes that the only way for the US government to maintain the bubble – rather than face a default or a severe depression to get its fiscal situation back in order – is to devalue its debt via inflation. Now that such a reality is becoming clear to market participants, Gromen says it makes perfect sense that many corporate entities are creating shareholder value by taking advantage of BTC’s strict supply cap. “In my opinion, it’s critical to remember how we got here. We had an equity bubble, it popped, we kicked the problem upstairs to the banking sector and the housing sector, it created a housing bubble, it popped, we kicked the problem upstairs to the Treasury market by backstopping virtually everything… Now the credit risk is at the Treasury market level, except, Treasuries have no credit risk. The government can always just print the money to make interest payments and avoid default. So there’s no credit risk in Treasuries, only inflation risk. So in my opinion, what we’re seeing in Bitcoin treasury companies in particular is logical, in light of this primrose path we’ve followed over the past 25 years. As more and more people begin to realize the only way out of this is severe devaluation of US debt, of US sovereign debt, of Western sovereign debt. In that case, I would expect credit spreads to remain relatively low, because all else equal, I’d rather own an Apple bond or a Microsoft bond than a US Treasury bond.” At time of writing, the US government’s national debt is about $37 trillion. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bitcoin Treasury Companies Are ‘Logical’ As Government Severely Devalues $37,000,000,000,000 US Debt: Macro Guru Luke Gromen appeared first on The Daily Hodl .
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Ripple is pursuing
The crypto market is on the back foot after Bitcoin retreats below the $113K threshold, losing over 21% in trading volume over the past 24 hours. The community sentiment is also pushing into the bear zone as the Fear and Greed Index retreats to neutral. Despite the looming trend, one Bitfinex whale decided this is the right time to invest and started gobbling up Bitcoins at a rate of 300 per day. Blockstream CEO, Adam Back, is the one who pointed it out , while also reminding the community that the same whale was acquiring $BTC at a rate of 1,000 per day back in February. This type of investment in a crypto market has ‘buy the dip’ written all over it, in preparation of an even bigger bull. The Market Goes Down as Eric Trump Pushes ‘Buy the Dip’ Message Eric Trump joins the ‘buy the dip’ crowd by sending the message loud and clear on X . Eric posted the message just as Bitcoin was sinking to $112,724, displaying his undying confidence in Bitcoin’s ability to bounce back. This was expected, given that Eric Trump’s Bitcoin stake is about to get $367M fatter. This would be the direct result of the merger between American Bitcoin Corp. and Gryphon Digital Mining, which would give Eric Trump access to over 367M shares, each valued at $1. The deal is set to undergo stockholder approval on August 27, 2025, and 10 AM ET. The merger, announced on July 29 , would make Eric Trump one of the wealthiest individuals in the crypto sphere, which would rush in a new era for Bitcoin and, by extension, the entire crypto market. But why is the crypto market backpedalling? The most obvious reason is Trump’s tariff suspension ending on Friday , which puts pressure on the global economic system once more. On the bright side, the trade agreement saw tariffs go down for US’s trading partners, especially for countries like the UK, Vietnam, Indonesia, and the EU. Despite that, the feeling of economic uncertainty and turmoil lingers, which, ultimately, benefits the crypto market. This means that we should expect a crypto resurgence once Bitcoin bounces back, at which point projects like Snorter Token ($SNORT) will become top gainers thanks to their blockchain utility. Why Snorter Token ($SNORT) is Perfect for Opportunistic Investors Snorter Token ($SNORT) is the perfect ecosystem for opportunistic investors thanks to Snorter Bot, the trader’s best sniper friend. Snorter Bot is the ideal solution to manual coin hunting, which is typically ineffective and exposes you to scams like honeypots and rug pulls. The Bot circumvents these problems by: Instituting real-time alerts to protect against suspicious projects Sniping hot tokens in milliseconds after liquidity appears; so, no lost opportunity Operating in its Telegram chat-only, eliminating the need for multiple wallets, plug-ins, and browser extensions The Copy Trading perk is also great for replicating proven strategies to increase your chance of success. All these advantages recommend Snorter Token ($SNORT) as the best choice for opportunistic traders who lack the time or know-how to engage with the market actively. With Snorter Token, you just tailor the Aardvark Bot according to your needs, give it the sniper rifle, and set it loose. $SNORT is still in presale now with a cash pool of $2.7M and growing and a token price of $0.1001. So, if you want to join the project, you should do it while $SNORT is still at its presale price. Given the project’s utility and following post-launch mainstream adoption, $SNORT could experience a massive chart boost in 2025. You can buy your $SNORT by going to the presale page today. When Will the Crypto Market Recover? With Bitcoin already back above the $114K threshold and a 24-hour growth rate of 0.55%, it’s safe to say that the market is already pushing back. While it’s too early to say whether this is a small bump or the sign of a sustained climb, one thing is certain: Bitcoin will bounce back. And when it does, we should expect a new ATH, following July’s $123,153.22, which will drag the entire market along for the ride. That’s when utility-based projects like Snorter Token ($SNORT) could also see an investor surge. This isn’t financial advice. Do your own research (DYOR), manage risks properly, and invest wisely.