After a seemingly smooth ride up for a few days, BTC's price got smashed at the resistance around 12,100 and experienced extreme volatility as price fell nearly 12% to 10,500. Price was able to recover and closed the candle on a long wick around 11,000. Currently, BTC is trailing with the 10 EMA and is forming a potential consolidation after the recent drop. It remains to be seen whether this potential consolidation is going to lead price back up to test 12k resistance or possibly lead to an initial bend of the trend. 11,000 sits as immediate support, while we have 12,000 to 12,100 as resistance.
Global market cap is at $339B, while BTC's market cap is at $206B.
A 17-year-old has been arrested after authorities have alleged that the teen was behind the massive Twitter breach we saw on July 15. The teen in question, known as Clark, was arrested by the FBI, IRS, US Secret Service, and Florida law enforcement after being called the 'mastermind' behind the biggest security and privacy breach in Twitter's history. The exploit saw the Twitter accounts of many famous individuals hacked, including those of Bill Gates, Elon Musk, Joe Biden, and the Twitter accounts of many top crypto exchanges. 30 felony charges have been found against Clark, including organized fraud, communications fraud, identity theft, and hacking.
The teen resides in Tampa, Florida, and his case will be handled by the state attorney's office as, according to Hillsborough State Attorney Andrew Warren, "Florida's law allows for greater flexibility to charge a minor as an adult in a financial fraud case like this." Warren could not elaborate on whether Clark had accomplices, citing the case's current investigation in tandem with federal authorities.
Multinational tech company Garmin may have paid the $10 million crypto ransom to hackers that managed to encrypt the firm's internal network and take down its services. According to a report from Lawrence Abrams at Bleeping Computer, Garmin's IT department used a decryptor protocol to regain access to workstations affected by the ransomware attack. The existence of such a protocol means that "Garmin must have paid the ransom to the attackers" as the malware used has "no known weaknesses in their encryption algorithm."
The company has since stated that "many of the systems and services affected by the recent outage, including Garmin Connect, are returning to operation."
Travel Management Company CWT has fallen victim to hackers and was forced to pay $10 million to be able to retrieve stolen data. According to Reuters' report, CWT has paid 414 BTC (~4.5 million) to ransomware hackers on July 27. The company was able to pay less than the initial amount after a representative from CWT said that the company has suffered financial loss due to the pandemic. The transaction was split into two transactions and hackers immediately transferred the funds to a different address within an hour.
In an unusual negotiation via chat, the hackers persuaded the company to pay the ransom saying that "paying is much cheaper" than going for a lawsuit which the company paid in order for them to have access to computers and retrieve data. Strangely, the hackers also offered a "bonus" in the form of recommendations as to how CWT can improve its security measures if they decide to pay. After the payment, the hackers left the chat with a message saying "it has been a pleasure to work with professionals."
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