Major cryptocurrencies traded in the red early on August 18 as the global crypto market cap declined 2.70 per cent to $1.12 trillion over a day earlier. On the other hand, the total crypto market volume over the last 24 hours rose 12.61 per cent to $71.75 billion. The total volume in DeFi stood at $5.62 billion, 7.83 per cent of the total crypto market 24-hour volume. The volume of all stable coins was at $64.85 billion, which is 90.38 per cent of the total crypto market 24-hour volume. The price of Bitcoin hovered around Rs 19 lakh, with a dominance of 40.03 per cent. This was a 0.13 per cent increase over the day, according to data from CoinMarketCap. Read full here
Big StoryCrypto scam revenue drops 65% in 2022 due to market downturn: Report
Revenue from crypto scams fell to $1.6 billion so far this year, 65 percent lower than levels in July 2021, as cryptocurrency prices declined, a new report showed. The decline in scam revenue was largely in line with Bitcoin prices from January 2022, blockchain data firm Chainalysis said in the report. Bitcoin currently trades at about $23,451, down from its all-time high of over $68,500 in November 2021. It wasn’t just scam revenue that dropped – the total number of individual transfers to scams was at its lowest level in four years, suggesting that fewer people are becoming victims of crypto frauds, according to The Chainalysis 2022 Crypto Crime Report. Read details here
Crypto buzzHow kidnappers extorted Rs 1.3 crore in Bitcoin from UP businessman
Three people were arrested in Uttar Pradesh for extorting Rs 1.3 crore in Bitcoin as ransom from a businessman they kidnapped. The shocking case is the first-of-its-kind crypto crime reported from state capital Lucknow, reports Times of India. The case came to light a week after police in Uttar Pradesh arrested Sandeep Pratap Singh, Vijay Pratap Singh and Rajveer Singh for kidnapping the realtor. Police say the accused knew that Arjun Bhargava traded in cryptocurrency and therefore hatched a plan and posed as real estate agents to extort the exorbitant amount. Take a look
