Tag: cryptocurrency

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Malaysia Uncovers $1.11 Billion Crypto Power Theft Spanning 13,827 Illegal Mining Sites

The post Malaysia Uncovers $1. 11 Billion Crypto Power Theft Spanning 13, 827 Illegal Mining Sites appeared com. Malaysia’s national electricity provider has revealed one of the largest cryptocurrency-related power theft scandals in history. Tenaga Nasional Berhad (TNB) lost over $1. 11 billion between 2020 and August 2024 due to illegal crypto mining operations that bypassed electricity meters across nearly 14, 000 locations. The Energy Ministry disclosed these shocking figures in a parliamentary filing on November 19, 2025. The scale of theft represents 4. 57 billion Malaysian ringgit in lost revenue and highlights serious vulnerabilities in the country’s power grid infrastructure. Massive Scale of Underground Operations TNB identified 13, 827 premises engaged in illegal cryptocurrency mining between 2020 and August 2024. These operations ranged from small residential setups to large-scale industrial facilities, all stealing electricity to power Bitcoin mining equipment. The illegal mining operations primarily targeted Bitcoin, which requires enormous amounts of electricity to operate. Criminal groups established sophisticated networks across Malaysia, using rented warehouses, shops, and residential homes with minimal foot traffic to avoid detection. These syndicates installed heavy-duty ventilation systems, air conditioning, and soundproofing materials to mask the noise and heat generated by mining equipment. To stay ahead of authorities, operations frequently relocated every few months, making enforcement challenging for utility providers and law enforcement. Explosive Growth in Crypto-Related Power Theft The problem has grown dramatically over recent years. Power theft cases linked to illegal crypto mining increased by 300% between 2018 and 2024. Detected incidents jumped from 610 cases in 2018 to 2, 397 cases in 2024. Between 2020 and 2024, TNB recorded an average of 2, 303 electricity theft cases annually related to cryptocurrency activities. The utility company also received approximately 1, 699 crypto-related complaints between January 2020 and December 2024, reflecting growing public awareness of illegal mining activities in their neighborhoods. Earlier reports showed how losses escalated over time. In 2020, TNB reported relatively modest losses of 5. 9 million ringgit.

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$4.1M Move Signals Bullish Confidence

The post $4. 1M Move Signals Bullish Confidence appeared com. In a significant move that’s catching the attention of crypto enthusiasts, market maker Wintermute has executed a substantial Wintermute AAVE withdrawal from Kraken exchange. The transaction involved 24, 124 AAVE tokens valued at approximately $4. 1 million, according to blockchain analytics platform The Data Nerd. This strategic move raises important questions about institutional sentiment toward the popular DeFi token. What Does This Wintermute AAVE Withdrawal Really Mean? The recent Wintermute AAVE withdrawal represents more than just a routine transaction. When major market makers move assets off exchanges, it typically indicates a shift toward long-term holding strategies. Wintermute, as one of the largest crypto market makers, often influences market sentiment through such moves. Their decision to withdraw AAVE from Kraken suggests confidence in the token’s future performance. Market analysts interpret exchange withdrawals as bullish signals because they reduce immediate selling pressure. When tokens remain on exchanges, they’re readily available for quick sales. However, moving them to private wallets often means the holder plans to keep them for extended periods. Why Should Crypto Investors Care About This Move? The timing and scale of this Wintermute AAVE withdrawal provide valuable insights for market participants. Here are key reasons why this transaction matters: Institutional Confidence: Large withdrawals often precede price appreciation Reduced Selling Pressure: Fewer tokens available on exchanges means less immediate liquidation risk Market Sentiment Indicator: Professional traders’ moves often signal broader market trends DeFi Ecosystem Strength: AAVE’s continued institutional interest validates the DeFi sector This substantial Wintermute AAVE withdrawal occurred about 10 hours before publication, according to blockchain data. The speed and efficiency of such large transactions demonstrate the maturity of cryptocurrency infrastructure. How Does This Impact AAVE’s Market Position? The Wintermute AAVE withdrawal comes at a crucial time for the DeFi ecosystem. AAVE remains one of the leading lending protocols in decentralized finance,.

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Zcash Price Will Crash By November End, Says Mega Whale James Wynn

The post Zcash Price Will Crash By November End, Says Mega Whale James Wynn appeared com. Zcash price continues to demonstrate bullish resilience despite clear evidence that its parabolic phase might be over. However, a faction of investors remained confident that it could still extend its rally, while others anticipate a bigger correction. Among the investors expecting a bearish Zcash outcome was James Wynn, a famous Hyperliquid whale. He predicted in a recent post that the privacy coin will fall to the $300 price range before the end of November. James Wynn also revealed that he executed a Zcash short position at the $684 price point. This suggests that his short position was already in profit since the cryptocurrency pulled back substantially since then. Nevertheless, his prediction raises questions, considering that the cryptocurrency has been showing signs of bullish weakness. Zcash (ZEC) Price Attempts Some Recovery After a Weekend Retracement The bearish expectations from James Wynn reflect recent observations on Zcash (ZEC) price action. The cryptocurrency previously made headlines after an impressive parabolic move in October. However, its performance this month signaled that the bulls were losing their momentum. The cryptocurrency also experienced significant pullbacks recently, signaling that early buyers were securing profits. The ZEC price just concluded its most recent bearish week during which it retreated by roughly 18%. Interestingly, this upside occurred during the same trading session that James Wynn predicted that the ZEC would extend its bearish performance. The privacy coin bounced back on Sunday morning after interacting with the RSI mid-point. This recovery potentially confirms.

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Bitcoin Supporter McCormack: Schiff Is ‘Nasty’ Human

The post Bitcoin Supporter McCormack: Schiff Is ‘Nasty’ Human appeared com. Bitcoin evangelist Peter McCormack has slammed gold bug Peter Schiff as a “nasty” human in his social media post. “The thing that I despise most about Schiff is that he is a nasty human. So many people have worked so hard to save money and invest in their future and the future of their family,” McCormack said following Schiff’s most recent attack against Bitcoin. Earlier this week, Bitcoin experienced a dramatic price drop, briefly nose-diving below the $81,000 Schiff’s schadenfreude was glaringly obvious during the crash, with the gold bug not even trying to hide his glee on social media. The financial commentator is busy reveling in Bitcoin’s downfall, predicting that the leading cryptocurrency will manage to log a new record high only if there is a US government bailout. In his most recent social media post, which has prompted McCormack’s response, Schiff now claims that the political incentive to back Bitcoin will not erode following the most recent price crash. “As the price drops, the whales will have less money to donate, and voters will be looking for someone to blame for their losses. Once political support is gone, the bubble will deflate even faster,” Schiff said. Schiff has also predicted that Bitcoin’s future sell-off will be even bigger, given that a significant portion of Bitcoin’s supply is moving from strong hands to weak hands. More backlash Schiff is now facing more backlash following his anti-Bitcoin comments. “He has cost gold people who listened to him millions of dollars of lost profit. He shows zero shame for this,” investment manager Lawrence Lepard said. Even though gold has vastly outperformed Bitcoin this year, it is still lagging behind the leading cryptocurrency on higher time frames. Source:.

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Franklin Templeton & Grayscale Approved

The post Franklin Templeton & Grayscale Approved appeared com. Franklin Templeton & Grayscale XRP ETFs Cleared for NYSE Launch Trading Expected Monday Renowned analyst Diana highlights a major crypto milestone that Franklin Templeton and Grayscale’s XRP ETFs have received NYSE Arca approval under the Exchange Act of 1934, clearing the final regulatory hurdle for their expected launch on Monday, November 24. The approvals come at a time of heightened interest in digital assets among institutional and retail investors. The NYSE listing of ETFs from two of the world’s most respected financial firms signals growing confidence in the cryptocurrency sector from traditional finance. Franklin Templeton, a global investment leader, and Grayscale, a pioneering crypto asset manager, are set to boost XRP’s credibility and liquidity. Analysts predict their NYSE listings will draw both seasoned investors and newcomers seeking regulated crypto exposure without directly holding digital assets. ETFs provide a streamlined path for investors to access specific assets under the regulatory safeguards of traditional markets. Unlike buying crypto directly, XRP ETFs can be traded through standard brokerage accounts, offering familiar protections and compliance. This accessibility, coupled with Bitwise and Canary Capital’s existing XRP ETFs, is poised to expand XRP’s appeal, particularly among institutional investors who previously faced custody and compliance hurdles. ETFs provide a regulated, convenient way to invest in assets like XRP through standard brokerage accounts, bypassing the compliance and custody challenges of direct crypto purchases. This accessibility is poised to boost XRP’s appeal, particularly among institutional investors, building on the precedent set by Bitwise and Canary Capital’s XRP ETFs. Therefore, tomorrow NYSE Arca might witness the debut of landmark XRP ETFs, a pivotal moment set to redefine institutional participation in digital assets. Conclusion With Franklin Templeton and Grayscale set to launch XRP ETFs on the NYSE Monday, this milestone goes beyond a new investment product, it marks a major.

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UK SFO Probes $28M Collapse of Basis Markets Crypto Project

The post UK SFO Probes $28M Collapse of Basis Markets Crypto Project appeared com. SFO opens first major crypto fraud probe into $28M Basis Markets collapse. Two men were arrested after police raids in London and West Yorkshire. Basis Markets blamed “US regulations” before abruptly shutting down in 2022. The UK’s Serious Fraud Office (SFO) has opened an investigation into the collapse of Basis Markets, a cryptocurrency project that raised $28 million before abruptly shutting down. This call for an investigation comes at a time when the entire crypto market is falling sharply, with the total market cap dropping to about $2. 95 trillion, Bitcoin and Ethereum sliding lower, and fear rising across all major altcoins. Two Arrests After Raids in London and West Yorkshire Earlier this week, SFO investigators, supported by the Metropolitan Police and West Yorkshire Police, carried out coordinated searches at properties in Herne Hill and near Bradford. Two men, one in his thirties and another in his forties, were arrested on suspicion of fraud and money laundering. Did you invest in Basis Markets? We’re appealing to anyone with knowledge of this crypto scheme to get in touch with our team. Hear from SFO investigator Martin Hall on why your information could help our inquiries⬇️ pic. twitter. com/Q3jx7HwjUx Serious Fraud Office (SFO) (@UKSFO) November 20, 2025 Officials say the investigation is still in early stages, but it marks the SFO’s first major case involving cryptocurrency. A Promising Crypto Venture That Suddenly Collapsed Basis Markets raised millions through two public fundraisers in late 2021. The first sale involved non-fungible tokens (NFTs) in November, followed by a second fundraising round in December. Investors were told the team planned to build an advanced “crypto hedge fund.” But by June 2022, the project claimed it could no longer continue, blaming proposed new US regulations for derailing its operations. Many investors questioned whether this was a genuine regulatory setback-or simply an.

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India’s ED Probes Cyber Fraud Network Allegedly Routing Funds Through USDT on CoinDCX

The post India’s ED Probes Cyber Fraud Network Allegedly Routing Funds Through USDT com. India’s Enforcement Directorate has attached ₹8. 46 crore in bank accounts and cryptocurrency wallets linked to a massive cyber-fraud scheme involving fake apps and investment scams. The operation laundered ₹285 crore through banking channels and platforms like CoinDCX, targeting victims nationwide. ED’s Hyderabad office identifies fraud network using fake job and investment apps like NBC App [.] Source:.

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Bitwise Solana ETF Is Biggest SOL Price Rebound Catalyst, Here’s Reason

The post Bitwise Solana ETF Is Biggest SOL Price Rebound Catalyst, Here’s Reason appeared com. Solana (SOL) exchange-traded fund (ETF) has registered 17 days of consecutive inflows as investors actively engage the product. Within this period, Bitwise’s BSOL has remained a leading asset with the highest inflow, with the potential to push SOL’s price to a rebound on the cryptocurrency market. Bitwise Solana ETF fueling rebound hopes As highlighted by Vibhu, Solana ETF has enjoyed attention from investors as they consistently commit new money into the product. This has led to inflows, as more money flows into the ETF than leaves due to strong interest and confidence. Bitwise recorded $424. 0 million worth of inflows between Nov. 3 and 19, 2025. Within this time frame, the highest inflow occurred on Nov. 3, with $65. 2 million recorded by Bitwise out of the cumulative $70. 1 million. The balance of $4. 9 million was attracted by Grayscale’s GSOL. Interestingly, out of the five asset managers, only Bitwise and Grayscale maintained constant inflows over the entire 17 days. However, Bitwise accounted for the highest percentage of inflows and is catalyzing Solana’s price rebound. Notably, Bitwise’s investors are taking advantage of the dip in SOL to accumulate the asset in order to maximize their profit when Solana’s price soars. The development signals that these investors consider the current price outlook of the coin a temporary event. In the last 30 days, Solana plunged from around the $200 level and has lost 22. 23% within the time frame. As of press time, Solana is changing hands at $143. 24, which represents a 2. 3% increase in the last 24 hours. The coin climbed from a low of $130. 64 to hit a peak of $144. 33 before stabilizing at the current market price. Trading volume has also spiked by 16. 81% to $6. 71 billion, indicating increased interest from investors seeking to take advantage of the price drop to enhance their portfolio.

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MicroStrategy CEO Rejects Claims Wall Street ‘Hurt’ Bitcoin, Says Company Can Withstand ‘80–90% Drawdowns’ Amid BTC Crash

Saylor says Bitcoin swings are easing over time despite heavier institutional attention and recent setbacks. Tom Lee suggests selling pressure fading while broader market strength could lift Bitcoin soon. Michael Saylor, executive chairman of Strategy, pushed back against claims that Wall Street’s growing presence in the Bitcoin market has led to higher volatility. In an [.].

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