Connect with us

Coin Market

‘Painful to think about’: NFT Creator Nate Alex on selling 70 CryptoPunks too early

Published

1 year ago

on

Nate Alex (Chainfaces) dove into CryptoKitties in 2017 alongside j1mmy and Pranksy & snapped up 70 CryptoPunks when no one cared: NFT Creator

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Coin Market

BTC bulls get 'biggest signal' — 5 Things to know in Bitcoin this week

Published

13 minutes ago

on

May 12, 2025

By

Bitcoin (BTC) launches into US CPI week with new multimonth highs as traders dig in for volatility.

BTC price action is giving increasingly bullish signals, joined by a key cross on the weekly MACD indicator.

The weekly close fell just short of expectations, raising doubts over whether price discovery will return in the immediate future.

CPI and PPI headline the week’s US macro data drops, but markets are all about the US-China trade deal and its implications.

Bitcoin supply in loss drops below 2% in a rare test of hodlers’ staying power.

Despite the gains, crypto market sentiment remains cool amid a lack of mainstream interest.

Bitcoin MACD cross copies October 2024

Bitcoin managed to preserve its highest levels since January around the weekly close as bulls battle resistance below all-time highs.

Volatility was visible over the weekend thanks to BTC/USD staying sensitive to developments around US trade tariffs.

On the hourly chart, these manifested as snap moves up and down before a broad sideways trend continued, resulting in several “long wick” candles. 

That pattern continued into the week’s first Wall Street open, with Bitcoin hitting new highs of $105,706 on Bitstamp, per data from Cointelegraph Markets Pro and TradingView.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

“Price action was making it seem like something big was coming. Any tiny dip was getting scooped up instantly and price started to move ~1 hour prior to the announcement,” popular trader Daan Crypto Trades wrote about the tariffs phenomenon in part of a post on X. 

“We’re seeing quite a lot of ‘aware’ price action precede big announcements lately. The insider/leaking is real and it’s used to trade our markets. Keep in mind, seeing this is such a big one including two major countries, it could be anyone anywhere.”BTC/USDT perpetual swaps 15-minute chart. Source: Daan Crypto Trades/X

Fellow trader James Wynn continued by forecasting additional volatility to come.

“It’s about to get seriously volatile for $BTC. Sharp wicks down, sharp wicks up,” part of his own X post stated.

An accompanying chart showed exchange order book liquidity from monitoring resource CoinGlass. To the upside, $106,000 was the key area to break through on low timeframes. 

BTC liquidation heatmap. Source: CoinGlass

Others pointed to a bullish cross on the moving average convergence/divergence (MACD) indicator, which on weekly timeframes provided a key upside impetus.

“Probably the biggest signal you can get at the moment,” popular trader Moustache summarized to X followers, noting that the last such cross was in October 2024.

BTC/USD 1-week chart with MACD data. Source: Moustache/X

As Cointelegraph reported, MACD had previously offered mixed signals, with daily performance giving traders pause for thought.

Bitcoin bulls narrowly miss key weekly target

Despite hitting its highest levels in three-and-a-half months after the weekly close, Bitcoin failed to flip a key support line that would secure a fresh breakout.

The weekly candle closed at around $104,100 — a stone’s throw from what analysis previously described as the ticket to price discovery.

BTC/USD 1-week chart. Source: Cointelegraph/TradingView

Updating X followers on the topic, popular trader and analyst Rekt Capital confirmed a rejection at $104,500.

“Going forward, it’ll be worth watching for Bitcoin to form Lower Lows on the price action and Higher Lows on the RSI for a Bullish Divergence to develop,” he concluded.

BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X

Before the close, BTC/USD had given strong cues that a retest of all-time highs could be on the cards and even a venture beyond.

“Bitcoin is on the cusp of beginning Price Discovery Uptrend 2,” Rekt Capital stated at the time.

BTC/USD 1-week chart. Source: Rekt Capital/X

Price thus returned to a trading range only recently reclaimed during a week in which bulls enjoyed gains of 9.9%.

As Cointelegraph reported, BTC price targets already included $150,000 and higher during June.

CPI week dawns with uncertainty “everywhere”

Another crunch macroeconomic data week for risk-asset traders makes for a potentially volatile environment for Bitcoin and altcoins.

Two key inflation markers, the Consumer Price Index (CPI) and Producer Price Index (PPI) print for April, are due in the coming days.

At the same time, markets are on edge over US trade policy, with news of a deal with China sparking flash moves in crypto over the weekend.

“We have yet to receive a statement from Trump directly on the US-China trade deal,” trading resource The Kobeissi Letter noted in part of ongoing X coverage. 

“This explains why markets are only up ~1.3% on this otherwise massively bullish news. Uncertainty is still everywhere.”S&P 500 E-mini futures chart. Source: Cointelegraph/TradingView

Kobeissi added that retail earnings reports could also shape market performance over the coming week.

Continuing, trading firm Mosaic Asset argued that trade news aside, risk assets lacked bullish impetus thanks to an ongoing hawkish policy stance from the US Federal Reserve and Chair Jerome Powell. 

The Fed left interest rates unchanged at its meeting last week, with markets increasingly pricing out a cut before July.

“While there is some easing of tensions on the trade front, the latest interest rate setting meeting by the Federal Reserve isn’t delivering any bullish catalysts,” Mosaic Asset wrote in the latest edition of its regular newsletter, “The Market Mosaic.”

“Despite capital market volatility this year, Fed Chair Powell reiterated his message that the Fed can take a ‘wait and see’ approach to how tariffs are impacting the economy and inflation.”Fed target rate probabilities (screenshot). Source: CME Group

The latest data from CME Group’s FedWatch Tool puts the chance of a rate cut in June at under 15%, while the Fed’s July meeting attracts around 50% odds.

Euphoria vs. “smart distribution”

The proportion of the Bitcoin supply held in profit has reached more than 98% — something barely seen before, new research says.

In one of its “Quicktake” blog posts on May 11, onchain analytics platform CryptoQuant examined whether the Bitcoin investor base was inclined to “smart distribution” at current levels.

“When BTC’s supply in loss drops to between 0–2%, it typically coincides with late-stage bull runs,” contributor Kripto Mevsimi summarized. 

“As shown in the chart, these moments cluster near macro tops — a zone often characterized by overconfidence.”BTC supply days in loss (screenshot). Source: CryptoQuant

The post added that long-term holders — those hodling for at least six months — may see the return to six figures as a suitable opportunity to reduce BTC exposure. Newcomers and speculators, on the other hand, may only now be planning an entry.

“With nearly all BTC holders in profit, distribution risk increases. Long-term holders may see these conditions as a signal to derisk, especially with BTC near all-time highs,” Kripto Mevsimi continued. 

“Meanwhile, newer entrants could interpret this strength as confirmation to chase, creating a potential sentiment mismatch.”

Last week, research nonetheless suggested that buy-side and sell-side pressure was broadly balanced, with the implication that Bitcoin could continue moving higher without a significant rush to the exit.

Mainstream retail ignores $104,000 Bitcoin

In an interesting development — one potentially supporting sustained BTC price upside — the market is less “greedy” at $104,000 than it was when Bitcoin traded more than 10% lower.

Related: Ethereum chart pattern supports ‘moon shot’ rally to new price highs if confirmed — Trader

The latest data from the Crypto Fear & Greed Index shows that while “greed” does characterize the general mood, the initial push to $94,000 on April 23 delivered higher readings.

Fear & Greed measured 70/100 on May 12, while on April 23 it reached 72/100, just inches from “extreme greed” territory.

Lower levels of greed in the face of higher prices could potentially signal more sustainable price growth as investors resist the urge to act erratically.

Crypto Fear & Greed Index (screenshot). Source: Alternative.me

Analyzing Google Trends volumes for “Bitcoin” in particular, market commentators have come to similar conclusions.

Despite being close to new all-time highs, Bitcoin is still not attracting significant mainstream retail interest.

Google Trends searches for Bitcoin indicate that $BTC is no longer a retail game.

Which confirms my theory as to why CT isn’t crazy about a 100k $BTC.

Graphic: @invest_answers pic.twitter.com/R56JjQpZXa

— Westy💾 (@Westy_Dev) May 11, 2025

“Google searches for ‘Bitcoin’ at close to a 5-year low. Price over 100k,” Vijay Selvam, author of “Principles of Bitcoin,” summarized on X at the weekend. 

“Retail hasn’t even properly checked back in since 2020.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Continue Reading

Coin Market

Crypto custodian BitGo secures MiCA license in Germany

Published

1 hour ago

on

May 12, 2025

By

Goldman Sachs-backed cryptocurrency custody firm BitGo is the latest cryptocurrency company to secure regulatory approval to operate across the European Union.

Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to provide digital asset services in the EU, the firm announced on May 12.

The license allows BitGo to offer services to crypto-native firms and traditional finance institutions, including banks and asset managers within the EU.

Source: BitGo

“This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said.

BitGo set up the EU headquarters in 2023

Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its clients. 

BitGo’s latest regulatory milestone in Europe follows efforts to increase its presence in the EU, including establishing local headquarters in Frankfurt in 2023.

Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in EU states, including Italy, Spain, Poland and Greece.

“With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement.

“Broad range of institutional-grade solutions”

BitGo did not specify the services it intends to roll out immediately under the new MiCA license.

“BitGo’s MiCA licence comes at a pivotal moment as BitGo expands its product suite to offer a broad range of institutional-grade digital asset solutions,” the announcement added.

Related: Tether CEO defends decision to skip MiCA registration for USDT

As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations.

BaFin data on BitGo’s registrations in Germany as of May 12, 2025, 8:30 am UTC. Source: BaFin

Cointelegraph approached BitGo for additional details on its MiCA license but did not receive a response by the time of publication.

As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Continue Reading

Coin Market

What is social engineering in crypto (and how to protect yourself)?

Published

1 hour ago

on

May 12, 2025

By

Social engineering in crypto, explained

In the world of cryptocurrency, security goes beyond just protecting your wallet with a password or private key. One of the most deceptive and increasingly dangerous threats to crypto users today is social engineering.

While you might think of cyberattacks as highly technical affairs, social engineering manipulates the most vulnerable aspect of security: human nature. 

At its core, social engineering refers to the act of manipulating people into divulging confidential information or granting unauthorized access to systems. 

Unlike traditional hacking, which typically exploits technological vulnerabilities, social engineering targets the human element. Attackers rely on deception, psychological manipulation and trust-building tactics to deceive their victims. By exploiting psychological weaknesses, attackers can trick individuals into giving up their private information, credentials or funds. 

In the world of crypto, this kind of manipulation is especially dangerous because transactions are irreversible, and the decentralized nature of cryptocurrencies can make it even harder to recover lost funds. Once funds are transferred or access is granted, it’s almost impossible to reverse the action. This makes crypto users a prime target for social engineering attacks.

Did you know? In 2024, phishing and spoofing topped the US Federal Bureau of Investigation’s list of reported cybercrimes, with victims also losing over $6.5 billion to crypto-related investment fraud, according to the Internet Crime Complaint Center.

Anatomy of a social engineering attack: Step by step

Social engineering attacks trick crypto users by gaining trust, creating urgency, and then stealing sensitive info to drain their wallets.

Step 1: The setup — Scouting for targets

Scammers start by lurking on social media platforms such as X, Discord, Telegram and Reddit.

They look for:

Newbies asking for helpPeople showing off their gains or NFTsUsers who accidentally leak wallet addresses or emails.

The more info they gather, the easier it is to craft a personalized attack.

Step 2: The approach — Gaining trust

Next, they reach out, pretending to be:

A helpful support agent (e.g., from MetaMask, Binance)A famous crypto influencerA friend or community manager.

They copy profile pictures, usernames (sometimes with slight changes), and even fake verification badges to seem real. This is all about lowering your guard.

Step 3: The hook — Creating urgency or fear

Now they trigger your emotions with urgent, scary or tempting messages:

“Your wallet is at risk — act now!”“Exclusive airdrop ending in 5 minutes!”“We detected suspicious activity — please verify your account!”They use fear, excitement and time pressure to force you into quick action without thinking.

Step 4: The ask — Extracting sensitive info

This is where the real trap springs. They ask you to:

Share your private key or seed phrase (a big red flag)Click a link to a phishing site that looks like MetaMask, Phantom or OpenSeaApprove a suspicious smart contract that drains your walletSend a small amount of crypto to “verify your account” or “unlock” funds.

If you fall for this step — game over.

Step 5: The heist — Draining your crypto

Once they get your sensitive info or get you to sign a malicious transaction, they:

Instantly drain your wallet of coins and tokensSwap your assets into privacy coins (e.g., Monero) to hide the trailLaunder the funds through mixers or exchanges.

Victims usually realize the theft too late; sadly, funds are gone forever in most cases.

Did you know? Onchain analyst ZachXBT uncovered an additional $45 million stolen from Coinbase users in early May 2025 through social engineering scams — a tactic he says is uniquely prevalent on the platform compared to other crypto exchanges.

Common types of social engineering scams in crypto

Scammers target crypto users via phishing, impersonation, giveaway and romance scams, and fake investment platforms.

Phishing

Phishing remains one of the most prevalent forms of social engineering in the crypto world. This can take several forms but typically involves fake websites, apps or emails designed to look legitimate.

Fake wallet apps: Scammers create fake versions of popular wallet apps like MetaMask or Trust Wallet. They trick users into downloading these apps, which then steal the private keys and funds stored within them.Fake exchanges: Similarly, attackers might impersonate well-known cryptocurrency exchanges. Victims are sent a link to a phishing site that looks identical to a legitimate platform, such as Binance or Coinbase. Once users log in and input their details, the attacker gains access to their funds.Fake MetaMask pop-ups: One common trick involves fake pop-ups that prompt MetaMask users to enter their seed phrase or private keys, thereby giving scammers control over their wallets.

Impersonation

Impersonation scams occur when attackers pose as legitimate figures — whether that’s support staff, crypto influencers or even friends — to convince victims to hand over their information or funds.

Fake support staff: In many cases, scammers will impersonate customer support agents for popular crypto wallets or exchanges. They might reach out to users claiming there’s an issue with their account and ask for sensitive information, such as a password or seed phrase.Influencers and friends: Attackers might pretend to be well-known crypto influencers or friends, asking for funds or convincing victims to participate in a scam. In some cases, attackers even go as far as to hijack a social media account of a crypto personality, offering fake giveaways or investment opportunities.

Giveaway scams

“Send 1 ETH, get 2 ETH back” — this is the classic giveaway scam that has made its rounds throughout the crypto community. Scammers pose as trusted entities, often mimicking celebrities like Elon Musk or official crypto exchanges, claiming they’re running a giveaway.

The catch? The scammer asks you to send cryptocurrency to a specified wallet address in exchange for a larger amount of crypto that you’ll receive “later.” Once the funds are sent, they disappear.

Romance and friendship scams

Romance and friendship scams, often known as pig butchering, occur when an attacker builds an emotional connection with the victim through messaging platforms like Telegram or even dating apps. Over time, the scammer gains the victim’s trust and then lures them into a fake investment opportunity, often involving cryptocurrency.

Victims are manipulated into sending funds to what they believe is a secure investment, only to lose all their money when the scammer disappears.

Fake investment platforms

Fake investment platforms promise extremely high returns with minimal risk — too good to be true. These scams might mimic legitimate crypto investment platforms, promising high returns on crypto investments or passive income streams. 

Once users deposit their funds, the platform either disappears or the scammer stops responding to communication.

Why social engineering works so well in crypto

Social engineering attacks thrive in the cryptocurrency world because they take advantage of certain vulnerabilities that are unique to the space. The combination of psychological manipulation, technical complexity and the irreversible nature of crypto transactions makes crypto users particularly susceptible to these types of scams. 

Below are the key factors that explain why social engineering is so effective in the crypto environment:

Fear and urgency: Crypto scams often create a sense of urgency to pressure victims into acting quickly. Common examples include emails or messages stating, “Your account is locked!” or “You need to verify your identity to avoid losing access to your funds!” These messages push users to make impulsive decisions that they later regret.Greed: Social engineering tactics often prey on a person’s desire to make quick, easy money. Scammers might promise users huge returns on investment or offer “exclusive” crypto deals that seem too good to pass up. This appeals to the greed of crypto investors, making them more likely to act impulsively.

Lack of crypto security knowledge: Many crypto users, especially beginners, may not fully understand how crypto security works. This makes them more susceptible to attacks like phishing, where they might unknowingly give up their private keys or passwords. Scammers take advantage of this lack of knowledge to manipulate and deceive.

How to protect yourself from social engineering attacks

While social engineering is hard to prevent entirely, staying vigilant, using 2FA, verifying links and practicing strong security habits can significantly reduce your risk.

Several steps you can take to minimize your risk include:

Be skeptical of unsolicited messages: Always be cautious when you receive unsolicited messages, whether by email, SMS or social media. If someone contacts you out of the blue asking for sensitive information or money, verify the authenticity of the message before acting.Enable two-factor authentication (2FA): Always use 2FA whenever possible. This adds an extra layer of security to your accounts, making it harder for attackers to gain access — even if they manage to obtain your password.Verify links and URLs: Before clicking on any link, hover your cursor over it to see where it leads. If the URL looks suspicious or doesn’t match the official site, don’t click it. Always double-check URLs for legitimacy, especially when dealing with crypto transactions.Educate yourself and others: The best defense against social engineering is knowledge. Stay informed about common scams and share this knowledge with others. The more you know, the less likely you are to fall for a scam.Use strong security practices: Consider using hardware wallets for storing your crypto assets, as these are considered much safer than keeping them on exchange platforms or software wallets. Always keep your private keys and seed phrases secure and never share them with anyone.

In a crypto world full of scammers, your best defense is vigilance, education and strong security practices — because even the smartest tech can’t protect you from a well-crafted con.

Continue Reading

Trending