Connect with us

Bitcoin

Flash Hike: Bitcoin [BTC] surges above $3,700; shatters short-term resistance points

Avatar

Published

on

Flash Hike: Bitcoin [BTC] surges above $3,700; shatters short-term resistance points
Source: Unsplash

The price of Bitcoin [BTC] saw a massive surge on January 19, 2019, at 10:00 UTC. The prices have now increased by a massive $110 in a matter of hours.

The one-hour chart for Bitcoin shows that the price candle opened at 10:00 AM UTC [3:30 IST], and 15mins later, the prices jumped from $3,624 to $3,728, at the time of writing.

Source: Trading View

Source: Trading View

The one-hour candle has 45 minutes more to close, with the prices still rising. The trading volume for Bitcoin was below $5 billion just a few hours back and it has now risen to $5.3 billion.

Bitcoin’s price so far has held the $3,400 support line steadily and it doesn’t look like the prices are going to fall below this line anytime soon.

This flash hike of Bitcoin’s prices will face resistance at $3,778, which was created after the recent drop in prices on January 10, 2019.

BitMEX exchange, which trades Bitcoin derivatives, shows the price of Bitcoin at $3,738 at the time of writing. The depth chart for BTC shows that the buyers and sellers are almost equally distributed, which is quite shocking as Bitcoin’s prices are spiking sporadically.



Source: BitMex

Source: BitMex

CoinMarketCap shows that the price of Bitcoin in the one-hour, 24-hour and the seven-day time frame have all increased by approximately 2.25%.

BitMEX exchange provides the most trading volume from its derivates of Bitcoin as it contributes a total of $857 million in volume via trade pair BTC/USD.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Huobi, Bitfinex and other exchanges allegedly directly/indirectly linked to laundering/mixing of Bitcoins

Avatar

Published

on

Huobi, Bitfinex, and other exchanges are allegedly linked in laundering/mixing of Bitcoins
Source: Unsplash

On 19 May, 2019, @Whale_Alert tweeted a transaction of 2000 BTCs between Bitfinex and an unknown wallet, which after in-depth research by a Twitter user, confirmed that it was linked with wash-trading, mixing and laundering of funds. The funds circulated over various exchanges like Bitfinex, Binance, Huobi, Coinbase, and others, raise serious questions regarding AML laws and more.

The flagged transaction was sent from 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B to two distinct addresses.

The Twitter user, @Proofofresearch, flagged this transaction and revealed the exchanges involved [directly or indirectly]. The user tweeted,

The user flagged a few addresses in the clusters which sent a significant amount of funds, shown in the image attached below.

Source: Twitter | CryptoMedication

The entity 145631092, as seen in the above chart, the funds sent by Huobi from this cluster ended on July 21, 2017. Another wallet “17hf5H8D6Yc4B7zHEg3orAtKn7Jhme7Adx”, linked to having transactions with Huobi has one particular transaction that stands out as it has an op_code named “People! help!”, which was transferred on March 30, 2019.

Source: Smartbit

The wallet address “19V5joogtZCCj3YWcP9pNT8eKLSZybc1Kq” has only four transactions in total. Upon checking the previous transaction for this address, the transaction with hash “bee4795db198230d6baad2e9dbba42b597c635b2471101641cce99e1ff0e91e4” stands out, since it is linked to darknet market places, the user tweeted.

Source: Twitter | CryptoMedication

Further, the address “3M1QVCjXn38AUdUxbLCH4WUZc1ai72ZKgr” that sent funds to the above-mentioned wallet, has a strong connection to darknet market places like the Hydra Market place.

Source: Twitter | Cryptomedication

The source of these funds was directly linked again with Hydra Market place, with the user tweeting,

The Twitter user further alleged that the addresses linked to these clusters were attached to fraud and some user[s] was “selling accounts at Coinbase/Huobi/Bittrex/Binance.” The Twitter user also urged the compliance team of the respective exchanges to close these flagged accounts ASAP.

The user added that all the funds linked to darknet market places were later deposited in Huobi exchange, which according to the user, gets mixed by Huobi.

Additionally, the user added,



“There are zero customers involved in any of these transactions at this point. That much is obvious. These addresses are not functioning as customer deposit addresses. That’s a guarantee. Funds go to Binance/OKex/Poloniex/BTCBox.com… By FAR, Okex is the most frequent recipient of funds from these Huobi-controlled addresses. Please keep in mind that these are not deposit addresses. These are addresses where Huobi is literally mixing the funds and sending them to other exchanges for some reason.”

One particular address connected to Bitfinex in this fiasco, “1LSgEKji3ZoGdvzBgkcJMej74iBd38fySb,” has received 1 million Bitcoins, according to the user. The user added,

“As stated before, Binance/Coinbase/Bitfinex/Huobi/Bittrex/Coinbase/”Bitbank”/Bithumb/OKex are all pals in this laundering scheme together. They mix and mash funds and operate in a symbiotic fashion – replenishing stores when necessary… In this case, Huobi’s hands are dripping if there’s such a thing as catching someone ‘red-handed’.”

Ambcrypto has reached out to the exchanges for a comment on the allegations. The article will be updated as the story develops.

 





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending