Bitcoin (BTC) experienced a decline, dropping towards $60,000, after a wallet linked to the US Government transferred approximately $240 million worth of seized BTC to a Coinbase Prime address. This move sparked concerns among traders that the government might sell these digital assets. 

The 3,940 bitcoin transferred originated from narcotics trafficker Banmeet Singh, confiscated during his trial in January 2024. This incident follows a previous sale of $2 billion worth of bitcoin by the government in April 2024, which also negatively impacted the digital market. In March 2023, the government sold 9,861 coins for $216 million.

This news impacted the broader cryptocurrency market, with the CoinDesk 20 Index also experiencing a decline.  Ether (ETH) dropped by 1.6% on the day. Bitcoin's price briefly recovered from its recent drop related to Mt. Gox repayments but then slid again upon this news, ultimately falling below $61,000. 

The bitcoin was seized from Silk Road vendor.

MarketsBitcoin Falls After U.S. Sends $240M Worth of Silk Road-Related BTC to CoinbaseAbout 4k bitcoin had been seized from narcotics trafficker Banmeet Singh at his January 2024 trial.By Aoyon AshrafJun 26, 2024 at 5:40 p.m. UTCUpdated Jun 26, 2024 at 5:42 p.m. UTCShare on FacebookShare on LinkedInShare on XBitcoin slips on government sale fear (mana5280/Unsplash)Share on FacebookShare on LinkedInShare on XBitcoin (BTC) fell back towards $60,000 on Wednesday, after a wallet tagged to the U.S. Government moved about $240 million worth of seized BTC to a Coinbase Prime address, igniting concerns among traders that the digital assets will likely to be sold.Some 3,940 bitcoin originally seized from a Silk Road vendor was moved by the the wallet, according to an Arkham Intelligence social media post. "This BTC was originally seized from narcotics trafficker Banmeet Singh, and forfeited at trial in January 2024," the post said.The last movement by the government— which in late 2022 seized roughly 50,000 bitcoin related to the Silk Road website—was $2 billion worth of bitcoin on April 2, which at the time also put pressure on digital markets. The last confirmed sale by the government was in March 2023, when it unloaded 9,861 coins for $216 million.Attempting a modest bounce from its Mt. Gox-related tumble earlier this week, bitcoin slipped back below $61,000 as the news hit. It's since edged back to $61,100 down 1% over the past 24 hours, with the broader CoinDesk 20 Index lower by about the same amount. Ether {{EHT}} also slipped on the news, falling 1.6% on the day.Read more: Mt. Gox to Begin Repayments in July; BTC Slides Under $61KEdited by Stephen Alpher.DisclosurePlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.Aoyon AshrafAoyon Ashraf is managing editor with more than a decade of experience in covering equity marketsFollow @Aoyon_A on TwitterRead more aboutBitcoinSilk RoadMarkets

Bitcoin Falls After U.S. Sends $240M Worth of Silk Road-Related BTC to Coinbase

Bitcoin Drops After US Moves $240 Million Worth of Silk Road-Related BTC

As the value of **Bitcoin** and other **cryptocurrencies** skyrockets, hackers are seizing the opportunity to exploit unsuspecting users. Over the past few months, some of the most dangerous **malware infections** in 30 years have infiltrated thousands of personal and business computers, leading to devastating consequences.

## How Hackers Are Targeting Victims
Hackers are employing a variety of tactics to steal personal information and funds. Some of the most common methods include:

- **Phishing Emails**: Hackers send out emails containing malicious links that appear legitimate. Clicking on these links takes users to fake websites designed to steal passwords. In addition, these sites can install malware that monitors your every move and sends your sensitive information, such as passwords and account details, directly to the hackers.
- **SIM Hacks**: One of the newest and most dangerous threats is the **SIM hack**. In this method, hackers steal your phone number, which allows them to bypass **two-factor authentication (2FA)** that uses SMS text messaging. Once they have access to your phone number, they can gain control of your accounts, including cryptocurrency wallets, bank accounts, and more.

To combat this, security experts recommend using an **authentication app** like **Google Authenticator**, which provides more secure two-factor authentication than SMS-based 2FA.

## How You Can Protect Yourself
With these cyber threats on the rise, it’s essential to take proactive steps to protect your devices and accounts. Here are some tips to stay safe:
- **Be cautious with emails**: Don’t click on any links or attachments from unfamiliar or suspicious senders.
- **Use secure 2FA methods**: Avoid using SMS-based two-factor authentication for sensitive accounts and switch to an authenticator app like Google Authenticator.
- **Keep your software updated**: Ensure that your operating system, antivirus software, and any other security tools are regularly updated to protect against new malware.
- **Backup your data**: Regularly back up important files to an external drive or cloud service to safeguard against data loss in case of an attack.

## Free Malware Scanning at PC Laptops
To help protect the community from these increasing cyber threats, **PC Laptops** is offering free virus and malware scans for anyone who brings in their desktop or laptop computer. This service comes with no obligation—just a simple way to ensure your device is free from harmful malware or viruses. **PC Laptops** also offers comprehensive virus and malware protection software to help safeguard your devices from future attacks. With cybercriminals on the rise, it’s more important than ever to take action before it’s too late.

With the rise of cryptocurrency values, hackers are more motivated than ever to target vulnerable users. Don’t let them gain access to your personal information, bank accounts, or cryptocurrency wallets. Protect yourself by bringing your computer into any **PC Laptops** location today for a free scan, or visit **PCLaptops.com** for more information.

As the value of Bitcoin and other cryptocurrencies skyrockets, hackers are seizing the opportunity to exploit unsuspecting users.Over the past few months, some

Protect Yourself from Malware as Bitcoin Prices Surge: Essential Tips and Strategies

### Larry Fink Ignites the Crypto Market

This week, **Larry Fink**, CEO of **BlackRock**, made waves in the cryptocurrency world with his comments that helped fuel a significant **Bitcoin rally**. His comparison of Bitcoin's evolution to the **mortgage-backed securities** market of the 1980s electrified crypto enthusiasts, prompting many to speculate on why the cryptocurrency **will rise rapidly**.

### The Power of BlackRock in the Crypto Space

BlackRock, the world's leading investment firm, manages the largest **Bitcoin exchange-traded fund (ETF)**, boasting over **$25 billion** in net assets. Fink's remarks have shown how influential his views can be on the market. He emphasized that the **regulatory environment** is not the primary driver of Bitcoin's growth; instead, it's about **analytics and data**.

### Bitcoin's Recent Surge

In the past week alone, Bitcoin surged by **11%**, nearing the **$70,000** mark, a level it last reached in June. This year, Bitcoin has risen **61%**, indicating a robust market with even **memecoins** experiencing dramatic growth.

### Key Takeaways from Fink’s Insights

- Fink highlighted that **analytics and data** will propel the growth of Bitcoin, similar to how they did for mortgage bonds.
- His comments suggest that the **future of Bitcoin** is not solely dependent on regulatory actions.
- The cryptocurrency market is showing signs of increased enthusiasm, with even the most obscure coins seeing significant gains.

Fink's perspective has provided a fresh reason for investors to be optimistic about Bitcoin's trajectory, contributing to a more **bullish sentiment** in the market.

Larry Fink added some fuel to the Bitcoin rally this week.

BlackRock's Larry Fink Sparks a Bitcoin Revival: What You Need to Know!

### Bitcoin's Current Performance

Bitcoin (**BTC-USD**) is currently **struggling to make consistent new highs**, unlike **gold** (**XAUUSD:CUR**). According to **Jurrien Timmer**, director of global macro at **Fidelity**, this lack of momentum is significant. He suggests that Bitcoin may have **already frontloaded its gains** during its recovery from the dip to **$15,000** in late **2022**.

### Bitcoin and Gold: Different Players?

Timmer posits that both Bitcoin and gold are **"different players on the same team"**, but they may not be **operating in sync**. He believes that Bitcoin aspires to have the **utility of money**, describing it as **"exponential gold"**—gold with an **exponential network feature**. However, for Bitcoin to effectively compete with gold, its **adoption curve** must continue to grow.

### Adoption and Valuation

According to **Metcalfe’s Law**, as the adoption curve for Bitcoin grows, its **valuation and price should increase** as well. Nevertheless, Bitcoin has experienced a **boom-bust cycle**, often overshooting and undershooting its underlying value, a phenomenon typical for an **asset in price discovery**.

![Bitcoin Chart](https://static.seekingalpha.com/uploads/2024/10/18/saupload_pic.jpg)

*Credits to Fidelity.*

### Recent Price Trends

Recently, Bitcoin's price has **flattened**, remaining between **$60,000 to $70,000** since late February, with the number of addresses holding at least **$1** stagnating at **46 million**. Despite a steep gain at the beginning of the year—driven by the anticipation of **ETFs**—the index is up **55.65% year-to-date**.

### The Future of Bitcoin

If Bitcoin has indeed matured and become less susceptible to **boom-bust swings**, its **adoption curve** will ultimately dictate its future price movement. Timmer concludes that while a potential **acceleration** in growth may be on the horizon—especially if the world moves towards **fiscal dominance**—currently, **gold** is **"stealing the show"**.

Bitcoin (BTC-USD) is not making consistent new highs in the likes of gold, (XAUUSD:CUR), and its lack of momentum is notable, said Fidelity&amp;amp;#39;s Jurrien Timmer.

Is Bitcoin Losing Momentum? Analyst Weighs In on Its Recent Performance

## IPYE's New Security Enhancements

Omaha, Nebraska, Oct. 18, 2024 (GLOBE NEWSWIRE) -- **IPYE** is thrilled to announce the launch of its latest **security enhancements**, designed to provide users with an unparalleled trading experience in the cryptocurrency market. These advanced features underscore the platform's commitment to **safeguarding user assets** and fostering confidence in Bitcoin trading.

![IPYE Security Enhancements](https://blockchainwire.s3.amazonaws.com/9e61e5b4-fcef-0330-480e-ddf5e5d4c6da/editor_image/b5fb2494-ccb6-433d-a303-53691149ab4c.jpeg)

## Innovative Security Measures for Bitcoin Transactions

The newly implemented security measures include **advanced cold and hot wallet separation**, ensuring that the majority of user funds are stored **offline**, minimizing exposure to potential cyber threats. Hot wallets, used for everyday transactions, will only hold a minimal amount of funds necessary for trading, thus reducing hacking risks and ensuring user accessibility.

Additionally, IPYE has introduced **multi-signature protocols**, requiring multiple approvals for transactions, creating an extra layer of security. This feature safeguards funds by requiring confirmation from several key holders before executing any transaction, significantly reducing the risk of unauthorized access.

These innovations are timely, as Bitcoin is increasingly viewed as a **safe haven** during economic uncertainty. By implementing these robust protocols, IPYE aims to provide traders with peace of mind, allowing them to concentrate on their investment strategies without worrying about asset safety.

## Real-Time Monitoring and Enhanced User Control

IPYE is also launching **real-time security monitoring**, operating 24/7 to detect and respond to threats instantly. Utilizing advanced analytics and **machine learning algorithms**, this system identifies unusual activity and alerts the security team for immediate action, ensuring user funds remain protected.

Moreover, users will gain greater control over their Bitcoin holdings through enhanced **private key management** options, allowing them to manage their assets more securely. This feature enables individuals to generate and store their private keys **offline**, reinforcing the decentralized ethos of cryptocurrency.

## Commitment to User Education and Support

Accompanying these technological advancements, IPYE is launching a series of **educational resources** to empower users with knowledge about new security features and best practices for safe trading. Resources will include webinars, tutorials, and detailed guides on secure wallet practices and recognizing phishing attempts.

Additionally, IPYE will provide dedicated **customer support** to assist users in navigating the new features, demonstrating a commitment to understanding the challenges traders face in the evolving cryptocurrency landscape.

## Future-Proofing Bitcoin Trading

With these innovative security enhancements, IPYE is poised to lead in cryptocurrency trading, especially for Bitcoin, increasingly regarded as **digital gold**. The platform’s commitment to security and user empowerment will facilitate the growth of the digital economy, ensuring both new and experienced traders can navigate the market confidently.

As Bitcoin continues to transform the financial landscape, it is vital for trading platforms to adapt to sophisticated cyber threats. IPYE has proactively taken steps to protect its users, safeguarding individual assets and contributing to the overall integrity of the cryptocurrency market.

IPYE Revolutionizing the Digital Economy Through Advanced Technology and Community Engagement...

Unlocking Advanced Security Features for Bitcoin Trading with IPYE

### Bitcoin's Technicals and Fundamentals
VanEck's latest analysis of **Bitcoin** has reinforced the belief that it is primed for a **high-volatility catch-up rally**. The current landscape suggests significant movement ahead.

### Key Observations
- **Bitcoin Miners' Holdings**: Publicly traded bitcoin miners now control a record **30% of the global hashrate** and have notably increased their bitcoin holdings this month.
- **Corporate Treasury Strategies**: A growing number of public companies are adopting the corporate treasury strategy pioneered by **MicroStrategy**, indicating a broader institutional interest in bitcoin.
- **Institutional Flows**: Our findings highlight that **institutional flows** appear to be leading the price movements of bitcoin rather than merely following them.

![Bitcoin and Digital Wallets](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1488104305/image_1488104305.jpg?io=getty-c-w750)

*We believe bitcoin is set for a breakout due to increased BTC holdings by miners, rising corporate treasury investments, and higher Bitcoin ETP flows.*

### Key Takeaways for Mid-September – Mid-October
- **Increased BTC Holdings**: Miners’ increased holdings suggest confidence in future price movements.
- **Rising Investments**: The trend of corporate treasury investments in bitcoin is gaining momentum.
- **Market Dynamics**: Institutional activity is playing a crucial role in shaping bitcoin's price trajectory.

*Please note that VanEck has exposure to bitcoin.*

VanEck's recent check of Bitcoin’s technicals and fundamentals has strengthened conviction that bitcoin is poised for a high-volatility catch-up rally. Click to read.

Is Bitcoin on the Verge of a Major Breakout? Insights from VanEck's October Analysis

### **Musk's Dire Predictions for the U.S. Economy**  
Tesla's billionaire CEO **Elon Musk** has issued a grave warning about the U.S. economy, stating that the nation is on the brink of **"bankruptcy"** due to excessive government spending. Musk's comments come after a significant **$500 billion** increase in the national debt over just three weeks, which he claims is indicative of a government that is **"out of control."**  

### **Bitcoin's Rollercoaster Ride**  
In recent weeks, the **Bitcoin price** surged towards its all-time high of approximately **$70,000**. However, this momentum has slowed following Tesla's mysterious transfer of **$750 million** worth of Bitcoin to new addresses, raising concerns that the company may have sold off its remaining assets.  

### **Inflation Fears Amid Government Spending**  
During a town hall meeting, Musk emphasized the link between government spending and inflation, calling it a **"pernicious tax."** He advocated for a **radical reduction** in government expenditures to prevent an insurmountable national debt.  

### **Meetings with Bitcoin Advocates**  
Musk recently met with **Nayib Bukele**, the president of El Salvador, who famously adopted Bitcoin as legal tender in 2021. Bukele's predictions about the future of the U.S. economy have sparked discussions about the viability of Bitcoin as a hedge against economic instability.  

### **The Skyrocketing National Debt**  
The U.S. national debt has soared past **$34 trillion**, significantly impacted by COVID-19 stimulus measures. Analysts from **Bank of America** have warned that the debt could increase by **$1 trillion every 100 days**, potentially fueling another Bitcoin price surge.  

### **Geopolitical Tensions and Future Predictions**  
The evolving geopolitical landscape and the upcoming U.S. elections could further influence investor sentiment towards Bitcoin and **gold**, as analysts predict a **"debasement trade"** that favors these assets.  

![Elon Musk and Bitcoin](https://specials-images.forbesimg.com/imageserve/671227841b0887bd5a05283e/Tesla--Elon-Musk--bitcoin--bitcoin-price--crypto--Federal-Reserve--Donald-Trump-/960x0.jpg?cropX1=282&cropX2=1219&cropY1=137&cropY2=801)

Tesla CEO Elon Musk has warned that the U.S. is hurtling toward the brink of "bankruptcy"...

Elon Musk's Stark Warning: Is the U.S. Headed for Bankruptcy and What It Means for Bitcoin?

### SEC Account Hacked by 25-Year-Old

A **25-year-old** from Alabama, **Eric Council Jr.**, was arrested for hacking the **SEC’s X account** in January, which caused a **$1,000 spike** in Bitcoin's value, as reported by the Justice Department. This incident occurred on **January 9**, just before the SEC's anticipated approval of **spot Bitcoin exchange-traded funds**.

### The Hack and Its Consequences

The hackers used the compromised account to **falsely announce** that the SEC had approved the trading of Bitcoin ETFs. SEC Chair **Gary Gensler** quickly refuted the claim, stating that the SEC had not approved such listings. The **phony post** was deleted 25 minutes later, but it was enough to prompt investors to rush in, causing Bitcoin's price to rise by **$1,000** before correcting and falling by **$2,000**.

### Charges Against Council

Council, known online as **“Ronin,” “AGiantSchnauzer,”** and **@Easymunny**, faces charges of **aggravated identity theft** and **access device fraud**. The indictment claims he manipulated Bitcoin prices through this hack. The method used was a **“SIM swap”**, allowing criminals to bypass multi-factor authentication and take control of the account.

### The SIM Swap Attack

A **SIM swap attack** involves fraudulently convincing a carrier to reassign a phone number to a different SIM card controlled by the hacker. Council allegedly impersonated an individual with access to the SEC account by creating a **fake ID**, enabling him to access the account linked to the victim's phone number.

### Payment in Bitcoin

For his involvement in the hack, Council received payment in **Bitcoin**. During the investigation, it was found that he searched terms like **“SECGOV hack”** and **“federal identity theft statute”** on his personal computer.

### FBI's Statement

FBI Acting Special Agent in Charge **Geist** stated that the unauthorized actions of Council manipulated the **global financial market**. The FBI is committed to bringing those who violate U.S. laws to justice.

### Potential Penalties

If convicted, Council faces up to **five years in prison** for his actions.

Eric Council Jr. was charged with conspiracy to commit aggravated identity theft and access device fraud.

Bitcoin Drops After US Moves $240 Million Worth of Silk Road-Related BTC

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Protect Yourself from Malware as Bitcoin Prices Surge: Essential Tips and Strategies

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Is Bitcoin on the Verge of a Major Breakout? Insights from VanEck's October Analysis

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Protect Yourself from Malware as Bitcoin Prices Surge: Essential Tips and Strategies

BlackRock's Larry Fink Sparks a Bitcoin Revival: What You Need to Know!

Is Bitcoin Losing Momentum? Analyst Weighs In on Its Recent Performance

Unlocking Advanced Security Features for Bitcoin Trading with IPYE

Is Bitcoin on the Verge of a Major Breakout? Insights from VanEck's October Analysis

Elon Musk's Stark Warning: Is the U.S. Headed for Bankruptcy and What It Means for Bitcoin?

Young Hacker Arrested for SEC X Account Breach That Manipulated Bitcoin Prices