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BitMEX traders that had their details leaked as part of a recent privacy breach have started to receive phishing emails. The crypto exchange accidentally disclosed 23,000 of its users’ email addresses earlier this month.

A Reddit user disclosed some details about a phishing effort against them in the wake of the leak. An email apparently from Blockchain.com redirects users to a different website to download malware onto their system.

BitMEX Users: Be Extra Vigilant Regarding Emails from Crypto Companies

The BitMEX email address leak occurred as part of a platform update on November 1. A post to the company’s blog explains in detail how it happened.

BitMEX had wanted to inform all its users of an important change to its price index via email. Thanks to its policy of avoiding sending mass emails, the system had not been used since 2017. Understandably, the exchange has grown substantially in terms of its number of users since then. After hitting send, it was looking like the email would take around 10 hours to send to all accounts.

A slapdash effort to update the system to reduce this time did not go through the usual quality assurance checks and was responsible for the leak. In the “To:” field of the emails received by those impacted by the leak, a long list of other users’ emails is clearly visible. According to the blog post, BitMEX acted quickly to limit the damage done but batches of addresses were already exposed.

By November 2, lists of more than 23,000 email addresses were available.

It now looks like scammers are taking advantage of the readily available, and obviously crypto-literate, BitMEX users’ details. A Reddit user reported an example of a scam supposedly associated with the leak. The user claims to have received a message claiming to be from Blockchain.com. It asks that the potential victim follow a link to receive a payment. However, the link reportedly directs to the site blockchainain.com, and download malware.

The Reddit user included screenshots from their experience. As you can see, it looks reasonably convincing too.

bitcoin blockchain cryptp

One respondent to the Reddit post commented as such:

“So many people are going to fall for this, imagine all these people that sent 1 ETH to get back 10 ETH…”

With BitMEX users so obviously being interested in crypto assets, it is hardly surprising to see such scams emerge in the wake of a mass email disclosure. However, it still should be pretty easy to stay safe from similar efforts. The exchange itself has given clear guidance to check whether you were impacted. If you received an email on November 1 about the index change that only lists your own email in the “To:” field, your email was not leaked. If you received an email that had many email addresses in the “To:” field, your emailed was leaked.

Whether your email address is on a scammers’ list or not, you should still always follow the same general precautions when dealing with unsolicited emails that offer some unexpected perk. Firstly, if you have doubts about an email don’t open it. Check the sender. If it doesn’t look legitimate, delete it. Companies don’t send emails from dodgy looking domains. If it looks like correspondence from a large blockchain company that you have an account with, sign in to the account and query the email with support. If you don’t have an account with the company then you should treat the email with even greater suspicion.

If you do happen to open the email, make sure you don’t follow any links within it. In the above example, the red flag should be obvious – why would Blockchain be randomly sending this user some cryptocurrency? Given the nature of the victims of the original leak, crypto exchange users, it’s likely that the malware included in this scam has either key logging capabilities, crypto jacking capabilities, or wallet file cloning software.

 

Related Reading: Bakkt Opens Bitcoin Custody to All Institutions, Futures on Track for New ATH

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Rick D. , 2019-11-11 22:00:45

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

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Nick Chong , 2019-11-10 12:00:38

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