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Dark web drug dealer pleads guilty, agrees to help track other dealers

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Dark web drug dealer pleads guilty, agrees to help track other dealers
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En route a world beard growing competition in Texas and caught as soon as he landed in Atlanta in August of 2017, Gal Valerius, a competitive beard grower and cyber whiz from the Brittany region of France, was confirmed to be ‘OxyMonster’.

On Tuesday at a hearing in Miami, he pleaded guilty for helping run a massive online drug market, overseeing the sales of kilos worth of coke, meth, heroin, fentanyl, and oxycodone. Accessing the dark web via TOR browser and using Bitcoin or its cousin altcoins for transactions virtually guarantees anonymity.

Under his plea agreement, Valerius would be cooperating with the Federal prosecutors and Drug Enforcement Administration, in the hope of reducing his life imprisonment sentence in exchange for his insider knowledge.

The arrest, back in 2017, was the end result of an investigation of multiple agencies – DEA, FBI, IRS, Homeland Security Investigations, and the U.S. Postal Inspection Service. He was accused of being a drug kingpin on the dark web, acting as an administrator for Dream Market, a marketplace for illegal narcotics including cocaine, heroin, and methamphetamines, and counterfeit consumer goods and stolen data.

He was traveling with his wife from France to Texas and landed in Atlanta, and upon landing his laptop was seized. The laptop revealed that he was the person behind the moniker ‘OxyMonster’, and also showed that he sat on a pile of Bitcoin worth $500,000.



Furthermore, Valerius was reported to have played the role of moderator on Dream Market, an online platform that allows drug buyers and sellers to anonymously strike deals throughout Europe and the US. It is more than just a marketplace for illicit drugs, providing technical assistance, resolving disputes and posting ratings of vendors on their platform. The authorities were only able to zero in on his identity because of the bitcoin address of ‘OxyMonster’ and analyzing the incoming and outgoing transactions from this address, the Miami Herald reports.

Cybersecurity firm ‘Recorded Futurehasve found that criminals on the dark web are using cryptocurrencies like Bitcoin for their illegitimate business transactions. However, the Bitcoin is much more expensive now, and charges more fees for transactions, than it once used to. This has lead the criminals to opt for Bitcoin’s alternatives, or altcoins, the most popular being Litecoin and Dash, which Recorded Future reports is a digital coin that 30% and 20% of dark web vendors accept, respectively.





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1 Comment

1 Comment

  1. Avatar

    Dippli

    June 14, 2018 at 11:28 AM

    Awesome Article man its the bitcoin that’s made the government officials many difficulties in tracking the flow of money unless it is transacted within the personal account. However blockchain technology has made it easier for the user for the transfer of money from one country to another its the crypto that has both boon and bane.

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Analysis

Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market

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Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
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Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.



In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.





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