Crypto Pirates

For years, cryptocurrency has garnered a favourable reputation in the investment world. To minimise duplicate spending and other counterfeiting difficulties, this virtual or digital currency makes use of highly secure cryptography. Numerous cryptocurrencies make use of blockchain technology, which is a decentralised ledger that records, tracks, and visualises cryptocurrency transactions, payments, and exchanges.

Numerous investors have taken advantage of this opportunity due to its 24-hour market operations, increased liquidity, and high dividends. Bitcoin is one of the most established and well-known cryptocurrencies in this sector. Numerous altcoins, like Binance, Ripple, and Ethereum, are already floating in the market.

Cryptocurrency is classified as property in Australia. As a result, many people have begun investing in altcoins on this continent. If you live in Australia and are considering investing in cryptocurrencies, you may want to learn more about crypto trading. In this instance, the following article will serve as a guide.

1) Cryptocurrency Analysis

Prior to opening a digital currency account, you should familiarise yourself with cryptocurrencies and how to trade it. Determine how you may profit from its volatility. Consider adjusting and improving your low returns.

2) Locate a reputable cryptocurrency exchange and open an account.

After familiarising yourself with digital currencies, you can open an account with a reputable crypto exchange. These exchanges are online markets where you can sell or purchase cryptocurrencies in exchange for other assets such as other virtual currencies or traditional fiat currencies.

Consider the following criteria before selecting an exchange:

* Security

* The number of digital currencies offered

* Ease of use

* Trading features

* The use of fiat currency in the purchase and sale of crypto, avoiding conversion fees

* Brokerage fees

* Authenticity

Additionally, you can speak with a colleague or an experienced cryptocurrency investor. Additionally, you can join cryptocurrency communities where these marketplaces are frequently appraised and compared.

3) Select your cryptocurrency

After deciding on a brokerage and establishing an account, you may begin selecting a virtual currency. Numerous seasoned crypto investors recommend well-established digital currencies such as Bitcoin and Ethereum due to their lower risks and longevity in the market. Additionally, conventional currencies have developed a greater degree of predictability than the new digital currencies.

Alternatively, you can use newer currencies, but be sure to check their performance during the last few months and weeks. Bear in mind that, in most situations, new altcoins are riskier, but provide a bigger potential return.

4) Select a technique

After registering and selecting your cryptocurrency, you can begin developing your investment strategy. Due to the fact that cryptocurrency trading is similar to stock trading, you can incorporate tactics from the latter, such as Elliot Wave Theory. Additionally, you may have some newer perspectives on red flags and advice that might assist you in managing your virtual currency in various crypto forums.

5) Take control of your virtual currency

If you intend to keep your cash for an extended period of time, you may wish to consider purchasing a bitcoin wallet. You can choose from a variety of free solutions on Android and iOS. Additionally, you can utilise trading bots to automate your buying and selling.

You should be aware of the following cryptocurrency trading tips.

To assist you in navigating your first few weeks of cryptocurrency trading, you may want to examine the following tips to help you manage your trades and decisions more effectively:

Make a profit and loss account.

Establish a goal for your cryptocurrency trading in order to choose when to continue or quit. On the other hand, you may want to consider setting a profit target.

Consider the dangers.

Consider allocating more time, money, and effort to small but secure transactions rather than large ones. If you choose the currency with the largest return potential, make certain it has a long track record of positive performance in the cryptocurrency business.

maintain vigilance

Due to the volatility of cryptocurrency, you must keep informed in order to choose whether to purchase, sell, and trade.

Adhere to what has been established.

In the majority of cases, the prices of virtual currencies are substantially influenced by the market behaviour of Bitcoin. As a result, you may want to begin investing in Bitcoin, as it is a critical component of crypto trading. El Salvador and some countries have even legalised Bitcoin.

Final Remarks

If you're ready to invest in digital currencies, you might want to consider the information in this press. While they do not provide all of the necessary knowledge about cryptocurrency trading, they may provide some valuable ideas for getting started with virtual currencies.

Bear in mind that regardless of your preparation, cryptocurrencies will experience ups and downs. As a result, you should maintain an open mind and make informed decisions during the negotiation process.

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Join us for a Wall Street-style party in the NFT space, and while you're at it, help out a good cause. Wall Street Wolves, the hottest new NFT firm, is so new that it will not open until after the Wolf Moon on Monday the 17th. Wall Street Wolves is a community-based NFT project focused on financial independence and the education of the future generation in the Web3.0 domain. Its 9,999 wolf-themed NFTs act as a portal into their realm, which they refer to as the Wolfverse. Wolfpack members get access to a variety of utilities, including the investment centre, farmacy, penthouse, monthly airdrops, real-world events, and metaverse gatherings. The creators of the company take delight in giving back to the community and navigating this new sector ethically and deliberately. Their primary charitable endeavour is to provide monthly contributions to wolf sanctuaries worldwide and to sponsor three actual wolves. They intend to grow the site into a resource for community members seeking advise and financial assistance with their own Wolftank projects.

The Wolfpack began as a collaboration of long-time friends who possessed extraordinary abilities and boundless drive. They wanted to add something fresh to the NFT environment, and so they created a line of wolves inspired by the film The Wolf of Wall Street. Just as Jordan Belfort upended Wall Street's current quo, co-founders Arian Shahbazi, Ali Berro, Sina Shah, and Ashik Banjade plan to upend the NFT market's status quo.

According to the founders, "NFTs are fundamentally the gateway to financial independence." The NFT market is structured in the way it is today due to the novelty of the technology. The JPEGs that sell for hundreds of thousands of dollars demonstrate the tremendous and powerful capabilities of Web3.0 technology. It is an additional layer of protection on the internet that enables individuals to directly hold assets, bypassing intermediaries. Now, NFT art collections serve as a showcase for the technology. Within the next five years, we believe that NFTs will broaden buyer-seller transactions to include all sorts of intellectual property, as well as real estate, automobiles, and event tickets. It's effectively a power shift — the authority over sales and transactions will now rest with creators and consumers, rather than with the institutions that support them."

Wall Street Wolves' mission is to make their community happy and to provide maximum value to each individual. To that end, they've teamed with two cannabis dispensaries, UpNSmoke LLC and Vegas Treehouse, and the utility is obvious — own a Wall Street Wolf and receive free weed. UpNSmoke immediately recognised the project's social component (assisting participants in achieving financial independence and contributing to philanthropy), and thus positioned themselves as the project's first official collaboration and supplied real estate for the crew to paint its first NFT mural. The Vegas Tree House cooperation began with a mural collaboration between digital artist Becca of Las Vegas and the NFT project Vegas Panda's Club. The Pandas offered the Wolves access to the front lobby wall of the Vegas Tree House, where they collaborated to construct their largest collaborative NFT mural to date, which included various NFTs around the room. Wolf cardholders can now visit the lobby and experience NFT art, as well as request a monthly $50 gift card.

Becca is an artist and graphic designer working in Las Vegas. She is originally from the Washington, DC metropolitan region. She has considerable experience planning and directing graphic design projects, as well as a lengthy history of creating original, bright works as a freelancer, including murals, logos, website designs, and product branding. Becca's talents and artistic experience have aided in the execution of the Wall Street Wolves collection's design vision prior to its introduction, and she will continue to do so as the Wolfverse evolves.

Wall Street Wolves, like the majority of other NFT firms, is also into music. They have already secured a few artist collaborations, and once their real-world events begin to take shape, collaborating with musical artists will be critical to adding depth and colour to the events. After all, the NFT space would be nothing without artists.

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The world of cryptocurrencies has been waiting for the start of the alt season. Which is currently obscured by the fact that digital assets have been crabwalking their way up the charts. While the star cryptocurrency has been battered by economic uncertainty and regulatory concerns. The altcoin maestri has borne the weight of its flaws.

The space has seen an explosion of protocols that have emerged as Ethereum killers. Due to the protocol's shortcomings, including expensive gas fees, scalability, and transaction latency. Meanwhile, maximalists remain hopeful that Ethereum will restore its former grandeur following the completion of its triple halving. Additionally, investors have been staking ETH 2.0.

Will Triple Halving Be The Answer To The $10,000 Puzzle?

For novices who are unfamiliar with triple halving, the cryptoverse is highly versed in it. The combination of EIP-1559 with ETH 2.0 completes the "triple halving" process.

EIP-1559 has been continuously burning coins, resulting in a depletion of supply. As of the time of publication, 1,512,076 ETH had been burned since the inception of EIP-1559. We've also discussed the burn rate reaching 11.40 ETH/min.

Although additional blocks are being added, the burn has created a supply shock, putting the network under "deflationary pressure." The price has been consistently pushed higher by the pressure. The transition to PoS, which is expected to occur somewhere in Q2 of this year, would alleviate around 90% of the sell pressure.

While also reducing emissions by 90%, the ramifications of which will be dealt with through block rewards and inflation. With Ethereum becoming scarce, the price of ETH will eventually skyrocket. Additionally, because PoS encourages saving, we would expect a rise in diamond hands, which would dampen price volatility.

Additionally, as CoinPedia previously revealed, veterans of the sector have been staking their assets in deposit contracts. The number of which has been progressively increasing as belief in the implications of ETH 2.0 has grown.

To summarise, once the triple-halving process is complete, the network will offer a variety of benefits. This includes reduced price volatility, price spikes, reduced energy use, and scalability. And receptive to the development of additional Ethereum-based apps. While some netizens have criticised EIP-1559, the upgrade has pushed the price higher despite market wide corrections.

Where the numbers appear to be smaller than they should. With the end of the triple halving, we can expect Ethereum to resume its bullish run on the charts while maintaining its utility supremacy.

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Bitcoin began the year 2021 with a solid performance and experienced a quick surge in both use and interest over the course of the year. The cryptocurrency had numerous milestones, from the launch of the first Bitcoin-linked exchange-traded funds (ETFs) to the announcement by big corporations that they would accept it as a means of payment. (And then, in Tesla's case, rescinding it.) While Bitcoin ended the year lower than many predicted and is off to a slow start in 2022, it is critical to remember that the cryptocurrency outperformed other asset classes in 2021, including commodities, stocks, and gold.

NYDIG, a Bitcoin-focused technology and financial services company, has presented its year in review and outlook for 2022, stating that key themes from last year—including regulation and institutional adoption—will carry over into the new year.

Take a look at NYDIG's Bitcoin projection for 2022 and the reactions of experts:

Correlations at the Macro Level Remain Elevated

"In the future, we should anticipate correlations to stabilise at these new higher values; there is no reason to believe they will revert to zero correlation. However, similar to commodities, despite moderate positive correlations, Bitcoin should continue to operate as a portfolio diversifier," NYDIG stated in the research.

According to Reeve Collins, Co-Founder of BLOCKv, a leading platform for generating highly programmable and customisable digital assets, Bitcoin is continuing to open up new avenues for more individuals, even those who have never had access to banks, to pay and connect with global ecosystems.

"It is critical that Bitcoin is recognised as a portfolio diversifier in order for people to continue to have access to this currency and its associated technology. Due to the asset's youth and the fact that it is only now becoming widely embraced, correlation with equities is to be expected," Collins added. "However, over time, this acceptance will likely result in Bitcoin being viewed as a hedge, diminishing its link with stocks."

Jorge Pesok, general counsel and chief compliance officer at legal-first crypto software company Tacen Inc., echoed the sentiment, telling GOBankingRates that while there is a correlation at the moment, he expects it to dissipate in the coming years — in part because the functionality of so many of these crypto assets and protocols is so diverse that they will cater to different markets in unique ways.

"For instance, it's difficult to see how DeFi or NFTs can remain associated with, say, ETH or BTC, given that they all serve so many diverse activities for customers," Pesok explained. "Moreover, as Bitcoin's acceptance continues to expand, it is expected to evolve into a risk-free asset similar to digital gold. However, this will require time and additional adoption."

At the Forefront of Stablecoin Regulation

According to NYDIG, there appears to be an expected ideological divide on the topic, with Republicans favouring a softer approach to regulation than Democrats, and Democrats not always having the necessary Congressional control to avoid compromise.

"In any case, we anticipate that finalising a strategy to stablecoins will remain a top regulatory priority in 2022," the paper states.

According to Collins, "stablecoin regulation is the most likely regulatory action in 2022, but given the lack of consensus in Congress, I anticipate a gentler touch."

Ari Redbord, Head of Legal and Government Affairs at blockchain intelligence firm TRM Labs, added that following the President's Working Group (PWG) on Financial Markets' report on stablecoins last year, it is possible that "while we are unlikely to see a comprehensive legal framework for crypto in 2022 given the issue's complexity and apparent partisan divide, we may see movement on stablecoins given the PWG report's pressure and the laser focus on stablecoins."

Pesok said that there is rising support for stablecoin regulation among regulators and both political parties, and this is an area of the crypto business that is likely to see reasonably rapid and, ideally, constructive regulation.

"Such laws may include something close to FDIC-style insurance, similar to bank deposits, as well as more transparent measurements and criteria for stablecoins backed by dollars and dollar-like assets. The crypto business, in general, would welcome something along these lines, and so there might be significant movement in this area in the coming year," he stated.

Securities Classification of Cryptocurrencies

“Charmain Gary Gensler has stated repeatedly that he feels that many of the cryptocurrencies presently traded should be regarded as securities, according to NYDIG's investigation. Bitcoin investors, on the other hand, can take solace in Gensler's previous statements that he does not feel the digital asset is a security, which aligns with his predecessor, Jay Clayton, according to the story.

"However, it is possible that bitcoin lending products will be subject to securities legislation. Additionally, staking a proof-of-stake currency may be considered. The SEC has not said when (or if) it will begin cracking down on either conduct," the paper noted.

Pesok concurred, noting that a spate of crypto financing products have previously come under review by the SEC and various jurisdictions.

"However, support for prudent regulation of crypto-focused goods, including loans, continues to increase," he said. "And I have a feeling that there will be a constructive touch in terms of regulation that will allow such items to thrive," he added.

Payments as a Business Model Continues to Expand

"Bitcoin is best known today as an unbacked store of value, akin to a digital counterpart of gold. BTC rewards credit cards, which were initially offered in a limited capacity by several companies at the end of 2020, entered the mainstream in 2021. 'Get paid in bitcoin,' or 'bitcoin payroll,' has been a hot topic of conversation among mayors and professional athletes throughout 2021. We believe that 2022 will be the year that receiving payments in bitcoin will move out of the shadows and become available to the general public," NYDIG stated.

According to Collins, 2022 will be a watershed year for global cryptocurrency acceptance, as innovators begin to bridge the divide between decentralised currencies and the centralised world via underlying technology.

"Usability is currently a significant impediment to bringing bitcoin payments to the masses: custody, on-off ramps, trouble accessing funds on mobile devices, and interfaces not suited for the target population," Collins added. "As the industry evolves at a breakneck pace, I believe we will see products that provide users with a frictionless way to move decentralised, fiat, and digital currencies in and out of the global financial system without the use of middlemen, removing significant entry barriers currently in place and enabling the broader public to pay and be paid in cryptocurrency."

Added Themes

Collins of BLOCKv is bullish on Bitcoin's prospects in 2022, despite the Fed's tightening monetary policy in response to inflation, which has resulted in broad-based selloffs in both equity and crypto markets.

"This is understandable," Collins stated. "However, at some point, perhaps even now, selling will be viewed as an overreaction. And as the market stabilises, we will see significant price growth across the board in cryptocurrency. Therefore, looking beyond the next year or so, Bitcoin in particular is primed for rapid expansion."

For Redbord, the primary focus is on regulatory clarification in 2022, since "there is a notion that crypto is the Wild West" - a reference to Gensler's statements from 2021.

"What we actually see is a well-regulated industry in the United States, with crypto firms needing to implement risk-based compliance procedures. And there is greater visibility on financial flows than ever before," he added, noting that this visibility on the blockchain enables law enforcement to track the flow of illegal proceeds and regulators to get a bird's eye perspective of their regulated ecosystem.

"By 2022, regulations are projected to become more transparent. Certain cryptocurrencies are classified as securities or commodities. Should DeFi initiatives be regulated as money service businesses (MSBs) similar to exchanges? And how can we categorise and regulate the burgeoning NFT market?" he asked.

Pesok, on the other hand, is enthusiastic about Bitcoin's prospects this year.

"Bitcoin generated a revolutionary idea that has resulted in the introduction of a plethora of unique goods that provide significant value to people the globe over," he said. "In fact, the rapid adoption of Bitcoin and other crypto-assets shows that, zooming out, we are still in the early phases of a rapidly growing industry primed to enjoy huge growth over the next year. Indeed, it's difficult to remain pessimistic about the future of this business."

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The Crypto.com coin price analysis is now contained within a declining channel, which will break if support at $0.475 does not hold. Bears should aim for $0.30 to $0.35 as their nearest target.

CRO may retrace its steps within this downward channel rather than continuing down to the $0.30 to $0.35 range. If such is the case, bulls would be wise to buy at a lower price level in anticipation of a larger rebound.

In the last 24 hours, the following has occurred in the price of Crypto.com Coin: Momentum is bearish

Yesterday, CRO experienced a significant sell-off, falling below $0.45 and reaching an overnight low of $0.44. The price then recovered slightly but is again trading within a -$5 range of the overnight low, indicating that it has continued to fall from that level thus far today.

CRO made two attempts to break clear of falling wedge resistance before falling below $0.45 yesterday. There are now strong odds that the market will retest the lower bottom recorded at $0.46 sometime this weekend before attempting to break out of this collapsing wedge resistance.

Bears should aim for $0.30 to $0.35 as their nearest target. Another higher low might be formed on or near the daily support level of $0.475 since it has been performing as a strong support level thus far and was already challenged earlier this week following some minor bounces from there. CRO must first break above resistance at $0.534, indicating that the sell-off from yesterday's peak is complete. Then, if the current pattern becomes the one used to define Crypto.com Coin price, those higher highs may provide a major tailwind for a rally approaching resistance levels between $1 and $2.

CRO presently faces resistance at $0.46 and support at $0.475 (the previous day's high), which serve as reversal points for intraday trading tomorrow. The hourly chart shows that CRO broke above the morning cloud on Thursday but returned to it after failing to break above its starting level of $0.4735, indicating that bears remain in power and continuing to push the price lower.

The CRO currency pair is currently trading between $0.46 and 0.534, with resistance at $0.46 and 0.534 and support at $0.475 and 0.45. Crypto.com Coin price will almost certainly test the lower level, $0.475, before attempting to break out of the falling wedge resistance.

CRO presently faces resistance at $0.46 and support at $0.475, which serve as pivot marks for intraday trading tomorrow. On Thursday, CRO broke through the morning overcast but returned to it after failing to break above its opening level.

Is CRO set to continue its downward trend?

The hourly RSI is currently below 50 and declining, indicating that the bears are currently in control of CRO. Consider the chart's candlestick configuration. We'll see that it's a bearish 'Three lines' pattern, with the third line serving as the basis for our negative Crypto.com Coin price forecast for today, indicating that there was no impetus behind yesterday's $0.45 decline. CRO may continue to trend lower into the $0.30 and $0.35 range following a brief bounce from resistance at $0.475.

At the present, the Bolinger bands are compressing, indicating a sideways movement that is beginning to resemble range-bound behaviour. As was the case on Tuesday and Wednesday, this combination may only have one more downward push remaining.

The recently broken support line has now become resistant, with the prior high functioning as the initial hurdle for traders attempting to enter long positions. If CRO breaks over $0.475 again, it could rally to around $0.50 before encountering additional severe resistance between $1 and $2 per coin.

Analysis of the Crypto.com Coin Price:

CRO is currently trading at $0.4550 on Binance, holding above its lower support level of $0.45 – a level that has been tested several times previously and held each time – increasing the probability of a downwards continuation from here, as last week's high of 0.534 has yet to be broken and should therefore not be taken as support by traders looking to buy at current prices.

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ACA is pleased to announce the debut of HedgeBoard, a sophisticated social trading platform that complements the company's existing social mining rewards club protocol. Both of these developments could be advantageous for the ACA Token and its traders.

ACA Introduces HedgeBoard

Hedgeboard, the next generation social trading platform, has joined the ACA Eco-System.

HedgeBoard can act as the MyFXBook of the bitcoin sector as a Trading Performance Verification Tracking System. Additionally, the use of blockchain technology enables new methods for recording, storing, and securing data on all traders' portfolios in real time via smart contracts.

By implementing this technology, traders lose the option to go back and enhance their data's visibility. More precisely, traders will occasionally change data after the fact to make it appear as if they were always correct, even when this is not the case. HedgeBoard eliminates this possibility by increasing the transparency, integrity, and accountability of all cryptocurrency traders.

ACA employs a Proof-Of-Rank methodology to ensure the maximum level of confidence in the trading rankings displayed on user profiles. This rank will always correlate to the trader's immovable results and cannot be altered in any way.

Additionally, HedgeBoard guarantees that users will never be charged for a bad trade again. It's a risk-free way for users to experiment with trading signals offered by other traders, as the system will reimburse them for the cost of entry via the staking mechanism.

A Gradual Implementation To Support Diverse Markets

To begin, the HedgeBoard solution will introduce fresh opportunities and trading indications to cryptocurrency enthusiasts. Today, there are thousands of currencies to investigate, and identifying the next profitable opportunity is critical. Additionally, crypto markets are open 24 hours a day, seven days a week, making them more accessible than any other trading vehicle available today.

In future iterations, HedgeBoard will incorporate more marketplaces to which individuals are attracted, such as sports betting, FX trading, and the stock market.

100% Refund on squandered trades

It's difficult to make accurate trading predictions in the cryptocurrency sector, as these markets remain extremely volatile and unpredictable. HedgeBoard also serves a purpose in this sense, as it is the sole way for users to be refunded if a deal goes wrong.

To be more exact, all traders enter into a contract referred to as a Blueprint. Traders that correctly forecast market signals will be rewarded with ACA tokens. If their forecast is inaccurate, however, the system will reimburse the buyers' tokens. The entire procedure is fully automated and is designed to assist traders build their credibility and incentive to succeed.

Traders can configure each Blueprint's settings via the HedgeBoard solution. Each Blueprint can be purchased by a member of the public, and the contract will execute an outcome if certain requirements are met. Each transaction fulfilled has an effect on a trader's reputation, rating, and the number of ACA tokens rewarded.

ACA Makes Use of Social Mining

Another perk for ACA ecosystem users is the social mining club. "Miners" will be rewarded for their contributions via Instagram and Twitter using this mechanism. All incentives are denominated in $SOSX, the SocialX project's native coin.

ACA is collaborating with SocialX to examine the benefits of social mining and how it influences the size and behaviour of crypto-related communities.

About ACA Token

The ACA Token is a cryptocurrency token that serves as the foundation for all ACA protocols. It is a utility token, and like any other cryptocurrency, it is available for sale and purchase on open marketplaces. ACA is using the Binance Smart Chain Network to tokenize its own technology in order to create ground-breaking new blockchain goods. ACA Token offers a plethora of features that benefit a variety of individuals wishing to profit from the Crypto Market.

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According to cybercrime experts, as the legitimate use of digital currencies grows, so does the abuse.

When cops apprehended scammer Evan Leslie McMahon in March 2019, they discovered much more than just the bootleg Netflix logins that allowed his clients to watch The Witcher on the cheap.

The hacker in his early twenties also had nine electronic wallets containing an alphabet soup of cryptocurrencies – bitcoin, bitcoin cash, ethereum, digibyte, XRP, stratis, bitcoin gold, and litecoin – that he purchased with the proceeds of his crimes.

McMahon avoided jail when he was sentenced in April last year for "providing a circumvention service" and "dealing with the proceeds of crime," receiving an intensive correction order that allowed him to serve his two-and-a-half-month sentence in the community.

What does it mean for you that Australian banks are becoming more open to cryptocurrency?

However, he forfeited the cryptocurrency, which was initially worth $460,000 but had risen to an estimated value of $1.2 million by the time of his sentencing, making it the largest stash of tokens seized by the commonwealth to date.

According to court documents, McMahon used 175 PayPal accounts with aliases such as Zac Kentish, Izabella Sjogren, and Samuel Binns to collect fees from customers of his websites, HyperGen, WickedGen, Autoflix, and AccountBot.

According to federal authorities, he then converted some of the proceeds into cryptocurrency.

PayPal declined to comment when asked how McMahon managed to open 175 accounts with the company and what this said about its anti-money laundering systems.

"We devote significant resources to identifying, investigating, and stopping improper or potentially illegal activity on PayPal," a spokesman said.

Seizures of cryptocurrency are increasing.

According to Austrac, the criminal use of cryptocurrency is no longer limited to online scammers like McMahon, who ran a series of websites selling logins to Netflix, Spotify, and other subscription sites that he bootlegged using software that automatically generated the keys.

"As legitimate use of cryptocurrency increases, we're seeing a sort of comparable increase in abuse," says Michael Tink, Austrac's national manager of intelligence operations, who oversees teams focused on cybercrime, national security, and money laundering.

"For example, where a crime group might have previously sent money offshore using the banking sector or a remittance dealer, in some cases – not many – we might see them trying to deposit criminal proceeds through a digital currency exchange provider and send money to a counterpart offshore using cryptocurrency itself," he says.

Tink is quick to point out that using cryptocurrency to launder the proceeds of crime is still "fairly" niche – but it is growing.

While the seizure of McMahon's wallets was the largest crypto bust in Australia at the time, larger amounts have since been frozen by regulators investigating possible fraud.

The Australian Securities and Investments Commission obtained federal court orders in October last year freezing bitcoin estimated to be worth between $7 million and $22 million that were allegedly related to what the corporate watchdog claims was an unlicensed superannuation investment scheme run by Gold Coast couple Aryn Hala and Heidi Walters. In court documents, Asic claimed that at least $2.4 million in investor funds had been used to buy crypto-assets. Asic's investigation is ongoing, and no charges have been filed.

Large amounts of cryptocurrency have also been seized by law enforcement agencies in other countries. The US FBI seized 3,879 bitcoins last month, claiming in documents filed in the American federal court system that they are the proceeds of a $216 million fraud perpetrated against insurance company Sony Life by employee Rei Ishii. Ishii has been charged with fraud in Japan and has yet to stand trial.

Authorities allege bitcoin was used to launder ill-gotten gains in another crypto seizure case before US courts involving 9.881 bitcoin (approximately $590,000).

Between May 2019 and February 2021, suspected money launderer Fernando Berrocal, a perfume industry businessman, picked up US$2.3 million ($3.2 million) in bulk cash from locations both inside and outside the US, according to an affidavit filed in forfeiture proceedings in the federal court system by a Homeland Security agent.

In the affidavit, Homeland Security agent James Barden stated that the money was made up of "$1 million in illegal gambling proceeds and $1.3 million in narcotics proceeds."

Furthermore, bank accounts owned or controlled by Berrocal received "$1,789,628.40 in proceeds generated by various financial frauds, many targeting elderly US residents," according to Barden.

He accused Berrocal of having "multiple commercial and personal bank accounts and shell-companies in the United States and elsewhere," as well as "multiple virtual currency accounts and/or Bitcoin addresses" that were used to launder dirty money.

"Berrocal conducted numerous financial transactions, many involving virtual currency, specifically bitcoin, to launder and transfer criminally derived proceeds from the United States to individuals and organisations outside the United States," Barden said.

According to the agent, Berrocal admitted that the bitcoin was the proceeds of his criminal activity "during a consensual interview with law enforcement" in March of last year. No charges have been filed, and the investigation is still ongoing.

The regulators are keeping an eye on things.

Last year, cryptocurrency had another moment in the spotlight, with the Commonwealth Bank announcing it would allow customers to buy, hold, and transfer tokens through its app, ads for trading platforms dominating bus stops, and the treasurer, Josh Frydenberg, talking about bringing exchanges – which are prone to collapsing – into Australia's regulatory system.

But sceptics believe the hype hides a terrible truth: cryptocurrencies are fantastic for speculators but, despite numerous attempts, aren't much use as a means of exchange unless you're buying something you shouldn't be.

"Paying for things the government doesn't want you to buy was the first actual payment use case for cryptos – the Silk Road drug market – and it's still about the only one," says David Gerard, author of two books on cryptocurrencies and a keen and critical observer of the sector.

"People only use crypto for payments when they can't use good money for some reason, so they use this stuff instead." This has morphed into large-scale ransomware. Ransomware existed prior to crypto, but not on this scale – that's entirely due to cryptos."

Meanwhile, dirty money from crime continues to flow into a crypto ecosystem fuelled by speculative investment, which has driven the price of bitcoin up from a few hundred dollars in 2015 to close to $60,000 today, despite frequent crashes.

"The crypto system is not technically a Ponzi scheme – it just works like one," Gerard explains.

"Early buyers can only be compensated with money from later buyers." The entire goal is to sell magic beans to people for real money and persuade them that these objects are the future of anything other than being skinned.

How Australia's far-right uses cryptocurrencies to monetise hatred online

"The general answer is: there is no such thing as a get rich quick scheme, magic does not occur, and if there is ever 'one weird trick,' it is one weird trick for picking your pocket."

Austrac has little insight into what is going on in this thriving market. Currently, exchanges that register with it are only required to report suspicious or large movements of cash into their coffers or payments out – not crypto transfers between market participants.

Tink, on the other hand, claims that the notion that transactions on the blockchain – the distributed ledger that records crypto transactions – are completely anonymous is incorrect.

"Our analysts also have access to other open source commercially available and more classified tools and data sets that help them track transactions as they occur through the blockchain and also link that to other data and criminal intelligence holdings," Tink says.

He points out that one advantage of the blockchain technology that underpins cryptocurrencies is that the data is publicly available.

"You may not always know who is behind a specific coin address, but it allows you to track transactions through other data sets." It enables analysts to investigate attributing wallet addresses to real-world people."

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The adoption rate of blockchain technology is increasing, as evidenced by recent trends. The NFT sector exploded in 2021, primarily focusing on digitising art and in-game items and offering them on a variety of markets at both low and high prices.

The metaverse emerged as the new big trend near the end of the year, offering entire virtual worlds brimming with content and ripe for exploration. With the metaverse and NFTs usually going hand in hand, the two provided a perfect opportunity for the gaming industry to begin developing on a blockchain, and there are plenty of projects that recognised and took advantage of this opportunity.

There are many blockchain games to choose from these days, and we have compiled a list of our top 5 favourite crypto games to watch in January 2022.

1. Axie Infinity

Axie Infinity (AXS) is the largest and most popular blockchain game at the moment, involving a metaverse, NFTs, GameFi, and other features. The game was inspired by Pokemon, and it revolves around you, the player, exploring its world, training your monsters, and using them in battle to defeat your opponents and earn rewards.

Because all monsters are in the form of NFTs, you can buy or sell them on any of the crypto industry's marketplaces. They are yours once you introduce them to the game, and they will remain yours for as long as you own the NFT to which they are linked. Monsters can also be upgraded with new body parts from the game's collection of over 500, which includes aquatic and bird-type beasts, as well as reptiles, bugs, and other creatures.

You can even breed your monsters, allowing you to create new NFTs that you can either sell or keep. And, as previously stated, when you win battles, you receive AXS rewards, which you can cash out, use to buy more NFTs, stake, or HODL.

2. MyNeighborAlice

The following game is MyNeighborAlice (ALICE), which was inspired by a popular game called Animal Crossing. MyNeighborAlice, on the other hand, is a multiplayer builder game based on blockchain technology that provides a metaverse where users can buy and own virtual islands. They can gather materials and construct various items on the islands. The game is also a fun way to meet new players and make friends, and it combines a fun gameplay experience with a high earning potential.

So, how do you make money with MyNeighborAlice? Simple. Your goal is to collect and trade NFTs while also using the game's native token ALICE to buy assets, invest in skill sets, and even participate in project governance via a DAO by voting on proposals or submitting your own.

3. Illuvium

Moving on, Illuvium (ILV) is an open-world fantasy battle game that is widely regarded as the first AAA title to appear on Ethereum's blockchain. The game is a great source of entertainment for gamers and DeFi fans looking for new challenges, as it allows users to enter the world of Illuvium, which is inhabited by creatures known as Illuvials.

Players can capture these creatures by defeating them in battle, then nurse them back to health, train them, and use them to win future battles. The game incorporates elements of both open-world exploration and PVP games. You can explore the metaverse's landscape, fight existing creatures, defeat other players, take part in quests and daily challenges, and even contribute to the communal storyline.

The creatures themselves have different classes (Guardian, Rogue, Fighter, Empath, and Psion), as well as different affinities (Air, Fire, Water, Earth, Nature). Class and affinity are by far the most important characteristics, but there are some others that determine how powerful the creatures truly are in battle, such as attack damage, speed, savagery, and so on. Overall, it's a popular and promising game that you should definitely check out — if not for the NFTs, then for the overall gaming experience.

4. UFO Gaming

As we near the end of the list, we recommend checking out UFO Gaming. This is an intriguing project that, as a fully decentralised inter-galactic social gaming token, is likely to attract a large number of SciFi fans in the crypto industry. The project employs the popular play-to-earn model in blockchain gaming, which allows you to earn assets that you can exchange for or use as regular, everyday money.

It, like most other metaverses, makes use of NFTs to provide users with virtual land. Aside from that, the UFO token will be required for the majority of tasks. According to the project's website, it provides "one planet, one game." "An ever-expanding ecosystem of earn-to-play games." The project will essentially collaborate with traditional gaming companies to integrate them onto the blockchain and develop new blockchain gaming features.

Each game will have its own governing planet, and the project will hold virtual land auctions where you can buy your own piece of land on the planet, earn revenue from the game by completing specific tasks, and, in the future, even use your land to build infrastructure for that planet, such as virtual NFT stores, collection galleries, and more.

This is a massive project in the works that has the potential to be extremely large, especially given that the gaming industry is very interested in moving to blockchain and utilising its benefits to the benefit of itself and its players.

5. Alien Worlds

Finally, there's Alien Worlds. This is a decentralised, NFT-based metaverse in which players are expected to compete for resources, particularly Trilium (TLM), and take part in a simulated economy centred on planetary worlds. This adds a DeFi element to the game and raises the level of competition.

Alien Worlds allows you, the player (or "explorer," as the game refers to you), to earn rewards by participating in Planet DAOs and playing the game. In Alien Worlds, you can mine for rewards using the in-game currency TLM or NFT packs. TLM can also be used for staking, so you can earn some passive income while you're at it.

The most intriguing aspect of Alien Worlds, however, is that it allows you to participate in an entire universe, hopping from planet to planet, with each planet acting as its own DAO. You can make proposals, vote on others' proposals, and even become a community leader for one or more planets.

It is a very interesting project that opens up a lot of new opportunities, even when it comes to a larger metaverse trend, because there is no other game like this one in the world, blockchain or not. With that said, give it a look, and you might just discover your new favourite project in the process.

Conclusion

Blockchain gaming is advancing quickly, and it won't be long before the blockchain industry can offer games of all genres, shapes, and sizes, from indie games to AAA titles. Even established gaming companies, such as Square Enix, are delving into the metaverse, NFT, and blockchain to pursue this type of gaming, and they will not be the last. Everything is in place for the blockchain gaming sector to take off, and those who are among the first to do so will benefit the most.

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North Korean cybercriminals escalated their illicit campaigns throughout 2021, frequently conducting cryptocurrency exchange hacks to syphon hot-wallet funds, launder the gains, and cash out via decentralised exchanges. According to new data from the blockchain security firm Chainalysis, the regime's state-backed hackers stole nearly $400 million in cryptoassets last year, affecting investment firms and centralised exchanges.

According to the firm's new report, North Korean threat actors used phishing lures, code exploits, malware, and advanced social engineering to steal digital currencies from internet-connected "hot" wallets and route them to addresses controlled by the Democratic People's Republic of Korea. Chainalysis claims that once the tokens were in their possession, "they began a careful laundering process to cover up and cash out."

The firm warns that much of the activity was likely carried out by APT 38, also known as the Lazarus Group, which is linked to North Korea's primary intelligence agency, the Reconnaissance General Bureau, which is sanctioned by the US and the UN. Mandiant's profile on APT 38, which has previously been linked to the Sony Pictures and WannaCry cyberattacks, notes that the group is "a large, prolific operation with extensive resources" and "characterised by long planning and extended periods of access."

Crimes that Worked

North Korea-linked hackers have generally been successful in their activities for a variety of reasons, according to Erin Plante, senior director of investigations at Chainalysis.

She attributes the groups' sophisticated infiltration techniques, which typically involve phishing and social engineering; methodical laundering involving mixers and decentralised exchanges; and the ability to cash out at Asia-based exchanges lacking rigid know-your-customer standards.

Chainalysis cites an individual hack on the exchange KuCoin and another unnamed platform that netted more than $250 million as proof of the groups' intent to focus on crypto crime. According to the blockchain firm, the United Nations Security Council has also warned that the revenue generated by the hacks supports North Korea's weapons programmes.

Flow of Funds

According to the researchers, the number of known North Korean-linked hacks increased from four to seven between 2020 and 2021, and the value extracted from the hacks increased by 40%. They go on to say that Bitcoin now accounts for less than one-fourth (20%) of the tokens stolen by the regime. Ether accounted for the lion's share, accounting for 58% of the total.

According to Chainalysis, the state-sponsored theft of various types of cryptocurrencies has also increased the complexity of the regime's laundering operation. The following is how the company documents the process:

* Ethereum Request for Comment 20, or ERC-20, tokens and altcoins are exchanged for Ether via a decentralised exchange, or DEX.

* Ether is mixed and then exchanged for Bitcoin via the DEX.

* Bitcoin is mixed and consolidated into new wallets.

* Bitcoin is then sent to deposit addresses at Asia-based crypto-to-fiat exchanges that serve as cash-out points.

In addition, Chainalysis predicts a "massive increase" in North Korean hackers' use of mixers – software tools that pool and obfuscate tokens from thousands of addresses – in 2021. According to the report, 65 percent of the regime's stolen funds were routed through mixers, up from 42 percent in 2020. According to the researchers, it demonstrates an increasingly "cautious" cash-out strategy.

The report also emphasises the regime's reliance on decentralised finance, or DeFi, platforms because they "do not take custody of user funds, and many do not collect know-your-customer information, meaning that cybercriminals can use these platforms without having their assets frozen or their identities exposed."

"We've seen explosive growth in the DeFi ecosystem over the last two years, as well as these actors hacking DeFi platforms and leveraging them for money laundering." "I expect that trend to continue into 2022, and it's a warning to new platforms to invest in security early," Chainalysis' Plante tells ISMG.

Unlaundered Funds

The firm also discovered $170 million in unlaundered North Korean balances linked to 49 hacks between 2017 and 2021. In 2020 and 2021, $35 million is attributed to attacks, while $55 million is attributed to attacks in 2016.

"This suggests that DPRK-linked hackers aren't always quick to move stolen cryptocurrencies through the laundering process," the Chainalysis researchers write. "It's unclear why the hackers would still be sitting on these funds, but it's possible they're hoping law enforcement interest in the cases will die down so they can cash out without being watched."

According to the researchers, in the final stages of the regime-linked hacks, the threat actors moved obfuscated Bitcoin to Asian exchanges, where it was then exchanged for fiat currency, such as China's renminbi.

According to the researchers, these actions "paint a portrait of a nation that supports cryptocurrency-enabled crime on a massive scale." Systematic and sophisticated, North Korea's government... has established itself as an advanced persistent threat to the cryptocurrency industry."

Strengthening Security

According to some security experts, the hackers' Ethereum-based campaigns are unquestionably concerning.

"It's interesting that North Korea and other nation-state cybercriminals are focusing on tokens based on Ethereum," Karl Steinkamp, director of delivery digital transformation and automation at Coalfire, tells ISMG. "This path has been and continues to be fraught with cybersecurity vulnerabilities in one or more components of the token's smart contracts, which are being exploited to rapidly empty individual and admin digital wallets."

"I expect this trend to continue until the Ethereum-based tokens market takes the deliberate step of building more proactive security into each of the products."

"Crypto platform providers must ensure that their employees are protected and do not become conduits for cybercriminals to make their way into the infrastructure," says Hank Schless, senior manager of security solutions at Lookout. Employees are constantly targeted by mobile phishing and other attacks that would give a cybercriminal access to the company's infrastructure."

BlueNoroff

The new data on Lazarus Group and other RGP-related activity comes on the heels of another warning from cybersecurity and antivirus firm Kaspersky, which said this week that the North Korean-backed gang BlueNoroff is now targeting small and mid-sized cryptocurrency startups in a campaign called "SnatchCrypto" (see: North Korean APTs Target Cryptocurrency Startups).

According to Kaspersky, the gang has ties to the Lazarus Group and has been tracked impersonating phoney crypto-related companies or major venture capital firms to spear-phish crypto platforms and then breach their networks to seize cryptoassets.

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Shiba Inu lacks the fundamentals required to thrive in today's challenging crypto market.

Shiba Inu was a notable performer in the cryptocurrency space last year. Despite struggling in recent months, Shiba Inu is up more than 47,000,000 percent. Though it struggled with consumer adoption in the beginning, it appears to be building utility for a more stable growth runway in the future. However, when SHIB recovers, its sporadic use-cases will have little impact.

In October of last year, Shiba Inu quickly became a popular meme token. If you had invested a smidgeon in Shiba Inu last year, you would now have a fortune on your hands. However, the coin, like the rest of the crypto market, has struggled to gain traction.

For the foreseeable future, speculation will drive the price of SHIB. Despite the efforts of its developers, its fluctuating price makes it difficult for businesses to adopt it. With such turbulent times in the crypto space, it is preferable to place your bets on assets with strong fundamentals.

Is There Enough Usefulness?

Shiba Inus were once considered a speculative fad. Recent developments indicate that its developers are becoming more serious about creating a stable crypto pathway. The Flexa payment network added Shiba Inu as a payment option for its merchants last month. The payment network is used by some of the world's largest corporations, which appears to be a significant step forwards for cryptocurrency.

Furthermore, the ShibaSwap exchange debuted in July. The exchange increases SHIB liquidity and allows users to earn recurring income by staking their tokens. It also compel investors to hold onto the cryptocurrency for a significantly longer period of time.

In addition, companies like Ask The Doctor and AMC Entertainment have jumped on the Shiba Inu bandwagon. However, due to its extreme volatility, cryptocurrency is unlikely to gain widespread acceptance as a payment method. Merchants want predictability, which is impossible to find with such an asset. Furthermore, Shiba Inu's founder Ryoshi recently discussed the creation of a metaverse, with SHIB serving as a major facilitator.

Despite the fact that Shiba-Inu has a few more use-cases than before, it's difficult to see how they could help stabilise the currency. With the price movement in the crypto sector, it's difficult to get excited about such an asset.

Keeping It Together in a Bear Market

Bitcoin's (BTC) bear run has crippled the cryptocurrency market, wiping out billions of dollars in recent weeks. In the last few months, the industry heavyweight has lost more than 30% of its value. With the market in turmoil, meme coins such as Shiba Inu are plummeting, raising concerns about their ability to withstand the bear market.

To be fair, even the most fundamentally sound cryptos have taken a beating in recent months. When the chips are down, you don't want to bet on cryptos like Shiba Inu. These speculative cryptocurrencies can lose a significant amount of value in a short period of time. Though Shiba Inu has gained a lot of utility recently, it is still insufficient to move the needle in a meaningful way. Furthermore, when the bear market pressures are factored in, a few use-cases here and there won't make much of a difference.

The Bottom Line on Shiba Inu

Shiba Inu had a fantastic 2021, with its value skyrocketing to unfathomable heights. However, many of these gains have been eroded in recent months as the cryptocurrency market has shifted into bearish territory. In such difficult times, it's difficult for investors to place bets on speculative coins like SHIB.

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