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Monat: November 2020

Canadian bank seizes $ 3,000 from account of scam victim to reimburse itself

Justin Smith, a resident of Toronto, had his bank debited $ 3,000 from his account without his consent.

The “right of set-off” is the little-known banking principle applied by Bitcoin Up, which effectively gives ownership of all depositors‘ funds to the bank.

By using this clause in the bank’s T & Cs, the bank is able to legally recover all the debts owed to it

Scotiabank of Canada recovered $ 3,000 (CAD) from one of its clients‘ accounts after being the victim of a recruiting scam.

Justin Smith of Toronto, who is a long-time customer of Tangerine – the online affiliate of Scotiabank – opened up about his ordeal with the bank in a story that illustrates the pitfalls of trust banking versus cryptocurrency.

CBC News reported that Smith was recently the victim of a sophisticated recruiting scam that saw him inadvertently deposit a bogus check worth $ 3,000.

A Toronto man was the victim of an employment scam, but was even more shocked when his bank, Tangerine, took about $ 3,000 from his account to make up for what she had lost to the fraudsters.

When Smith realized he had been duped and informed the bank of the problem, the bank invoked a little-known clause in its Terms of Service to deduct the amount from a separate account.

Smith’s Fraud Nightmare

The problems started when Mr Smith was contacted by scammers who set up an elaborate plan to make him believe he had landed a home data entry position at retail company Sobey’s.

He was given a seemingly convincing employment contract, a check for $ 3,495 and the instruction to pay $ 3,000 to a company called Tech Insight Services, apparently to supply the equipment.

When Smith deposited the check, it seemed genuine enough to deceive even the bank, which credited his account with the amount. Smith then sent the requested $ 3,000 payment to the crooks, unaware he was being cheated. He then received another demand for payment of $ 3,500, which set off an alarm in his head. He contacted the bank to inform them of his suspicions, but it was too late at this point for the bank to reverse the $ 3,000 transfer.

It was then, Smith says, that Tangerine asked him to cover the $ 3,000 with money from his other accounts at the bank. He refused to do so, and the bank took the money anyway, debiting his $ 3,000 tax-exempt account without his consent.

Bitcoin Cash ABC (BCHA) releases new client – Price takes + 134%

The Bitcoin Cash altcoin has experienced a hard fork in recent days, which has led to the creation of Bitcoin Cash ABC (BCHA). After a rough start, this new altcoin seems to be starting to consolidate.

Bitcoin Cash ABC offers a new customer

The pass of arms between Bitcoin Cash Node (BCHN) and Bitcoin Evolution had been brief, but brutal. And it is the first that won the “ticker ” war: most exchanges now list this implementation under the name of Bitcoin Cash (BCH). Bitcoin Cash ABC had much less support from miners and the crypto community as a whole, but altcoin is hanging on.

Proof of this is the release of a new client for Bitcoin ABC . This improves the stability of BCHA and BCHN after the major update they have just experienced. However, the new altcoin is not at the end of its troubles. The network has experienced a big slowdown since the hard fork, and far fewer blocks have been produced than on Bitcoin Cash Node. Mining pools are also less numerous.

Bitcoin Cash ABC’s price on the rise

But what gives hope to the Bitcoin ABC community is the rise in the price , which has taken place since the hard fork. The numbers still vary greatly from one exchange to another, but the price of BCHA showed an increase of + 134% on Poloniex over a little over a day:

The price of altcoin seems to have consolidated around 23 to 25 dollars , if we are to believe the data of the aggregator CoinGecko, which fixes the progression of the BCHA at + 46% over the last 24 hours. Will this be enough to keep this hard fork going? It is still too early to tell. For comparison, the Bitcoin Cash Node is currently at around $ 247 on Binance . Everything remains to be done for Bitcoin Cash ABC.

Bitcoin’s ‚Next Big Resistance‘ está a $1 trilhão de dólares de limite de mercado, diz o analista da Bloomberg

Mike McGlone, um estrategista sênior de commodities da Bloomberg, revelou que acredita que o bitcoin está voltando ao seu máximo histórico de quase 20.000 dólares, mas o início de um preço que verá o limite de mercado da moeda criptográfica chegar a 1 trilhão de dólares.

De acordo com um tweet McGlone publicado numa época em que a BTC tem se mantido estável acima da marca de $16.000, os $20.000 são um obstáculo inicial à medida que se aproxima de $1 trilhão em limite de mercado, sendo que a moeda criptográfica está agora em „estágio de descoberta de preço inicial“.

O gráfico anexo descreveu um limite de mercado de $1 trilhão como a „próxima grande resistência“ para a BTC. McGlone observou que „a adoção generalizada está aumentando“, provavelmente se referindo a várias apostas no BTC feitas por empresas negociadas publicamente como a MicroStrategy, que comprou US$ 425 milhões da moeda criptográfica, e a Square, que comprou US$ 50 milhões.

A McGlone também pode ter apontado que a adoção do BTC está crescendo devido ao PayPal e seu novo serviço que permite aos usuários comprar, vender e manter os criptoassets diretamente em sua plataforma. O novo serviço do PayPal está por enquanto disponível aos usuários nos Estados Unidos, mas espera-se que seja lançado em „mercados internacionais selecionados“ no H1 2021.

O analista sênior da Bloomberg, vale notar, é bem conhecido por fazer previsões de preços em alta para a BTC. Como noticiado, no início deste mês McGlone previu que a BTC quebraria seu recorde anterior de quase US$ 20.000 na liderança para um rally parabólico no próximo ano.

Vale notar que outros analistas também estão em alta no bitcoin, em um momento de incerteza nos mercados que tem visto alguns analistas afirmarem que o valor do dólar americano pode cair 20% no próximo ano. Enquanto as notícias da Pfizer e Moderna sobre vacinas contra a pandemia da COVID-19 levaram a comícios no mercado acionário e viram o preço do ouro cair, a BTC continuou a subir.

Thomas Fitzpatrick, executivo sênior do gigante financeiro Citibank, sediado nos Estados Unidos, publicou um relatório afirmando que o preço do bitcoin poderia ultrapassar $300.000 até dezembro de 2021, aproveitando as semelhanças entre o BTC e o mercado de ouro dos anos 70.

Northern Ireland sells 47.79 Bitcoin (BTC) via online auction

The Northern Ireland state sells 47.79 Bitcoin (BTC) through an online auction. At the current exchange rate, the amount involved is over 650,000 dollars.

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Bitcoin sales
The country, part of the United Kingdom, has previously seized the cargo of Bitcoin, the Belfast Telegraph reports today.

The auction, organised by Wilsons Auctions in Belfast, has now started and will end on Thursday afternoon. The total is divided over 44 lots from 0.25 BTC to 3 BTC per lot, respectively a market value of $3,450 and $41,400.

Interested buyers need to register in advance in order to be able to participate. In addition, various payment conditions apply.

In addition to Bitcoin, there is an offer of gold, gold jewellery and luxury watches (Audemars Piguet, Rolex and Cartier). Various handbags by Hermes, Chanel and Louis Vuitton are also available.

Online auctions
It is common for governments to sell confiscated Bitcoin or other cryptocurrency through an online auction.

For example, over the last six years the US government has sold no less than 185,000 Bitcoin at various auctions by the United States Marshals Service. Multimillionaire Tim Draper bought more than 30,000 bitcoin during these auctions.

At the beginning of this year, it appeared that America had lost USD 1.7 billion in ‚profits‘ as a result of interim price increases. This lost profit has only increased since the share price has been above $10,000 since the end of July.

Last month, the Romanian government announced that it was going to auction off an unknown amount of confiscated BTC.