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FBI Claims Arrested Cyber Crime Syndicate Co-Founder Medvedev Worth $800M+ in BTC

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Accused Cyber Crime Syndicate Co-Founder Arrested in Thailand

Cyber Crime Syndicate Co-Founder Worth 100,000 BTC Arrested in Thailand
Sergey Medvedev arrested by Thai police

Sergey Sergeyvich Medvedev is accused of being the co-founder and second in command of the transnational crime syndicate, Infraud. The dark-web marketplace associated with the group was seized and taken offline by U.S. authorities.

Mr. Medvedev, a Russian national, fled to Thailand six years ago. Thailand’s Crime Suppression Division (CSD) identified the thirty-one-year-old as being located in Bangkok following an investigation prompted by American requests for cooperation with the FBI.

Maj. Nathapol Ratanamongkolsak of the CSD stated that “The United States […] requested assistance from Thai police, and the police commissioner ordered the Crime Suppression Division to work on this case in late 2017.”

Mr. Medvedev in Possession of Over 100,000 Bitcoins

Cyber Crime Syndicate Co-Founder Worth 100,000 BTC Arrested in ThailandMr. Medvedev was arrested during a raid on his apartment in the Sukhumvit area, conducted by 30 CSD officers. The CSD officers seized numerous documents and a notebook computer from Mr. Medvedev.

CSD investigators have claimed that Mr. Medvedev was trading illegal products online in exchange for bitcoin. Thai media outlet, Bangkok Post, has reported that “judging by the evidence obtained during the Feb 2 raid, [Mr. Medvedev] had more than 100,000 bitcoin[s]” – at the time valued at approximately $800 – $900 million USD.

Thailand’s Central Investigation Bureau (CIB) chief, Thitiraj Nhongharnpitak, has confirmed that the raid took place. However, the CIB chief has declined to issue further details regarding the operation, stating that such is an international police matter and that more information will be made public soon.

FBI Cracks Down on Infraud

Cyber Crime Syndicate Co-Founder Worth 100,000 BTC Arrested in ThailandIt is alleged that Infraud was created during 2001 by Mr. Medvedev in partnership with Svyatoslav Bondarenko in Ukraine. Infraud has been described as a major hub for credit card fraud, with Deputy Assistant Attorney General David Rybicki stating that the site was “the premier one-stop shop for cybercriminals worldwide.”

Reports have indicated that similar operations designed to arrest 18 members of Infraud have been carried out in over a dozen different countries – expanding on prior efforts by the FBI to crack down on Infraud, which have previously seen the arrest of 32 individuals suspected of criminal involvement with the group.

Maj. Nattapol Rattanamongkol stated “This is an operation by the [US] Department of Homeland Security that involves spontaneous [raids] in 14 countries.”

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Bitcoin will drop to $3,500 before we see a major bull run, says trader

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While Bitcoin has managed to hold above $4,000 according to Coinmarketcap, one trader believes that BTC will drop to $3,500 before the next bull run.

Speaking to CCN, crypto trader known as The Crypto Dog in the community said that it’s still possible Bitcoin sinks to $3,500 in the short term, adding that market conditions haven’t changed over the last several days.

“I think we could still see $35XX,” the trader said, adding, it [Bitcoin] hasn’t changed much. It wasn’t a particularly significant move. It bounced at a clear support, but there’s been no positive reaction yet. If this support holds, I expect a sweep of the highs near $4,100-$4,140.

“Decent chance we just saw that ‘one more leg up.’ I greatly reduced exposure up here above $4,000. Waiting for $3,5XX for long entries. I’d love an opportunity to short $4,1XX, but not sure if we’ll see it,” he said.

Bitcoin’s struggle to maintain momentum is likely the reason for cautious optimism shown by traders and analysts.

Recently, technical analyst knew as DonAlt explained that we can’t safely conclude the bear market is over until Bitcoin breaks out above $4,600.

Source :chepicap

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Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues

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Bitcoin SV [BSV] continued its bearish run on the back of the collective market dropping below the $140 billion mark. After two successive bullish waves in the past week, the coin market turned red.

At press time, the BCH hardfork fell against the US dollar by 1.26 percent, and was trading at $65.88. The market cap of the coin stood at $1.16 billion, trailing Cardano [ADA] by over $220 million.

Bitforex took the top spots with respect to BSV trade volume, via the trading pairs BSV/USDT and BSV/BTC. The pairs accounted for 12.28 and 12.17 percent, respectively. Other notable exchanges on the list were HitBTC, IDAX, and IDCM.

1-hour

Source: Trading View

The one-hour BSV chart showed a massive downtrend stretching from $68.71 to $66.32, with the coin dropping further below. The sole uptrend was prior to this drop when the coin rose from $67.71 to $68.71.

Bitcoin SV found immediate support at $64.55, which the coin was hovering above. The immediate resistance level stood at $68.77.

The Bollinger Bands pointed to a massive increase in volatility as the price declined. The Moving Average line indicated a bearish swing.

The Chaikin Money Flow tool showed a decrease in the money inflow to BSV tokens as the CMF line was below 0.

The Awesome Oscillator showed a significant decrease in short term market momentum, but the concluding bars being green indicated an imminent bullish change.

1-day

Source: Trading View

Bitcoin SV saw two downtrends, with the first downtrend shaving the price from $75.71 to $67.15. The second downtrend pulled the price down from $70.39 to $67.65.

The coin found immediate support at $61.72, which the coin touched in February. Bitcoin SV’s immediate resistance level stood at $75.65.

The Parabolic SAR indicated a bearish market, as the dotted lines were above the coin’s trend line.

The Relative Strength Index showed a notable decrease in investor interest as the RSI dropped down from 55.65 to 46.38, at press time.

The MACD continued projecting bearish signs as the MACD line pushed below the Signal line.

Conclusion

Bitcoin SV failed to hold on to the bulls as the coin’s price declined below the $70 mark. In the short term, the coin’s volatility was high, while the money inflow dropped. Short-term momentum was negative, further pointing to the resoluteness of the bears. In the long-term, the MACD and the Parabolic SAR indicated a bearish market.

Source. ambcrypto.

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Bitcoin Price Drops Back Below $4K But Bull Outlook Still Intact

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  • Bitcoin failed to capitalize on a bull breakout above $4,040 yesterday, but the short-term outlook remains bullish as the higher-lows pattern is still intact.
  • A convincing break above the three-day chart resistance of $4,040 still looks likely and could be followed by a rally toward the recent high of $4,190.
  • The immediate outlook would turn bearish if prices find acceptance below $3,920 (previous day’s low). A bearish close, if confirmed, could yield a drop to $3,700–$3,658 (Feb. 27 low).

Bitcoin (BTC) has dropped back from levels over $4,000, but the short-term outlook will remain bullish as long as prices are holding above key support at $3,920.

The crypto market leader jumped to a 25-day high of $4,055 yesterday, having secured a bullish UTC close above the psychological hurdle of $4,000 on Wednesday, going by Bitstamp data. The breakout above the crucial three-day chart resistance of $4,040, however, was short-lived with prices falling back to a five-day low of $3,920 before closing the day at $3,974.

Notably, the negative price action engulfed the trading range seen in the previous four days, which is widely considered an early sign of bull exhaustion.

That said, the path of least resistance is still to the higher side, as the bounce from lows near $3,920 has left the bullish higher lows pattern intact along the trendline connecting the Feb. 8 and Mar.4 lows.

For the immediate outlook to turn bearish, the engulfing price action seen yesterday needs a strong follow through in the form of a convincing break below $3,920.

As of writing, BTC is trading at $3,980, representing a 1.28 percent drop on a 24-hour basis.

Daily chart

On the daily chart, BTC created a bearish outside reversal candle yesterday as trading began on an optimistic note but ended with pessimism.

A bullish-to-bearish trend change, however, would be confirmed only if prices close below $3,920 (low of the bearish candle) today. A move below $3,920 would confirm a downside break of the ascending trendline and shift risk in favor of a deeper drop toward the Feb. 27 low of $3,658.

On the higher side, a break above $4,055 would reinforce the short-term bullish setup and could fuel a rally toward the recent high of $4,190.

3-day chart

The odds of a rally toward $4,235 (inverse head-and-shoulders neckline) would strengthen if the current three-day candle closes (today) above $4,040, validating the bullish engulfing candle created in three days to March 16.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

 

source:coindesk.

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