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🔍Bahrain-based crypto exchange Rain was hit by a $14.8M hack at the end of April, according to blockchain detective ZachXBT. The stolen funds, 137.9 BTC and 1,881 ETH, have been inactive since the exploit. 🕵️‍♂️ Rain's "pro" version, an advanced trading platform, has been intermittently down since May 5. Last year, crypto investors lost $2B to hacks and exploits across the industry, with an additional $333M stolen in Q1 this year. 😮 Rain, licensed to operate a virtual asset brokerage and custody service in the UAE since 2023, has yet to comment. What are your thoughts on this? How can exchanges better protect their platforms and users? Let's discuss! 💬👇 #CryptoNews #Blockchain

🔍Bahrain-based crypto exchange Rain was hit by a $14.8M hack at the end of April, according to blockchain detective ZachXBT. The stolen funds, 137.9 BTC and 1,881 ETH, have been inactive since the exploit. 🕵️‍♂️

Rain's "pro" version, an advanced trading platform, has been intermittently down since May 5. Last year, crypto investors lost $2B to hacks and exploits across the industry, with an additional $333M stolen in Q1 this year. 😮

Rain, licensed to operate a virtual asset brokerage and custody service in the UAE since 2023, has yet to comment.

What are your thoughts on this? How can exchanges better protect their platforms and users? Let's discuss! 💬👇 #CryptoNews #Blockchain

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🔥Hot off the press! Federal prosecutors have charged Thomas Pavey and Raheim Hamilton for operating Empire Market, a darknet marketplace that processed a whopping $430M in transactions from 2018 to 2020! 💰 Empire Market was a hub for all things illegal, from drugs to stolen credit card info, with all transactions made in cryptocurrency. The site shut down in August 2020, but the story doesn't end there. Pavey and Hamilton were already in custody for allegedly selling counterfeit currency on another darknet market, AlphaBay. Now, they face charges of drug trafficking, computer fraud, access device fraud, counterfeiting, and money laundering. If convicted, they could face life in prison. During the investigation, law enforcement seized $75M in cryptocurrency, cash, and precious metals. Arraignments are yet to be scheduled. What are your thoughts on this? How will this impact the perception of cryptocurrencies? Let's discuss! 💭 #CryptoNews #Blockchain #DarknetMarket
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🔥Hot off the press! #Bitcoin took a tumble this week, dropping to its lowest price in four weeks. It's been a rough ride, with BTC down 7.5% over the past seven days. 😱 Smaller #cryptocurrencies felt the burn too, with the CoinDesk 20 Index shedding almost 12% week-over-week. #Ether, #Solana, #Avalanche, #Cardano, and #Near all saw declines of 15%-20%. This swift tumble has liquidated nearly $180 million of leveraged derivatives trading positions across all crypto assets over the past 24 hours. This week's shake-out saw a total of over $870 million in liquidations. Just a few days ago, analysts were predicting an imminent breakout for bitcoin to new record highs, but attempts for rallies were quickly sold off. The Federal Reserve's projection of only one rate cut this year, less than previously forecasted, dashed investor hope for looser monetary policy. Political uncertainty in Europe and a stronger U.S. dollar index also put pressure on bitcoin. What's your take on this? Are we in for a bumpy ride or is this just a temporary setback? Share your thoughts below! 🚀 #CryptoNews #MarketAnalysis
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