Bitcoin’s price has skyrocketed above $10,000 for the first time in 15 months. At the time of publication, the cryptocurrency by market capitalization is trading at $10,805 – the highest level since March 8, 2018. On a 24-hour basis, BTC is outshining most top 10 cryptocurrencies with 7 percent gains. Spike in the BTC price is supplemented by a 12 percent jump in trading volumes. According to CoinMarketCap, $21 billion worth of bitcoins have traded across cryptocurrency exchanges in the last 24 hours. With the move above $10,000, bitcoin has erased more than 40 percent of the sell-off seen in twelve months to December 2018. Further, prices look set to end the second quarter with triple-digit gains. While bitcoin’s long-term prospects look bright, the cryptocurrency may see a pullback in the short-term. After all, prices have rallied more than 140 percent in the last 2.5-months and bulls usually take a breather following such stellar gains.
Hacker Attack Through Firefox was Directed Against Coinbase Employees
A recent hacker attack through Firefox browser was targeted to not only to users but also to Coinbase employees. The vulnerability in the popular Mozilla Firefox browser was discovered by the Coinbase Security team and Google security researcher Samuel D. Gross on Monday. “On Monday, Coinbase detected and blocked an attempt by attackers to access the Firefox system and target Coinbase employees,” said Philip Martin Twitter, member of Coinbase security team. The Mozilla company has released a patch that “fixed a bug.” Then Mozilla Firefox urged users to update the version without hesitation. It is still unclear how the hacking occurred. However, Coinbase security team coped well with the attack, updated the security system, and warned its users and employees in time.
Two Israeli Brothers Arrested for 2016 Bitfinex Hack
Israeli police have arrested two brothers involved in the 2016 Bitfinex hack and cryptocurrency related phishing schemes. Eli Gigi and his younger brother Assaf Gigi are suspected of being responsible for long-term systematic theft of cryptocurrencies by maliciously obtaining access to other users’ accounts. According to the investigation, the brothers managed to make as much as “tens of millions of dollars.” The two created fake websites identical to those of legitimate cryptocurrency services to trick users into trying to login through them. Once they got users’ login credentials, they transferred the funds to their own wallets. Alleged victims were mostly based out of the European Union and the United States, which resulted in the matter being investigated by multiple law enforcement agencies in several countries. Police have been investigating the Israeli brothers since 2017 and say it the case could see new developments being unraveled soon.