Tuesday, November 14, 2023

Scam - Email Spoofing

Hi community!

I wanted to spread awareness on this infamous blackmail scam circling around the internet.

Recently, I got an email from my "junk mail" saying someone installed a Trojan virus on my device, and they have been watching me for months and recording me. Unless I send them $888 in Bitcoin, they would release video footage of me to my contacts.

The scariest parts that gave me chills were:

  1. This email was sent to me supposedly through "my email address". It looked correct. After further research, I discovered this is fake because this "email" went to junk automatically. Also, I checked my "sent" messages, and this email was not sent through my account. This is called "email spoofing". It's like sending a letter mail with a "fake" return address.
  2. I checked my login history to this email account. For almost every day, for WEEKS, people throughout the world have been trying to "unsuccessfully" access my account. These are coming from - Poland, UK, Germany, and Canada. I got scared because this feels like a STALKER.
  3. They claim they could be watching me at any moment through my camera and microphone. (FYI - storage space is quite costly. If they really did this, they would actually be spending way more per victim than they are actually receiving. I personally wouldn't mind if my life was recorded so I could rewatch all the special moments. But again, this is very expensive to do.)

Please:

  1. Please check your security history and make sure to change your passwords frequently!
  2. Do no click any links from unknown sources.
  3. Do not give in to blackmail. They tried to threaten me by saying I am a "huge fan of websites for adults" and "truly enjoy checking out porn websites and watching dirty videos". Regardless if this is a true or false statement, it should not matter. Our close family and friends who love us will not judge us. Do not feel ashamed! These evil people should be the ones ashamed for their actions to "blackmail" and make people feel "shameful" and then extorting money. Absolutory sickening.

    A snip of the email -

    "Hello there! Unfortunately, there are some bad news for you. Around several months ago I have obtained access to your devices that you were using to browse internet. Subsequently, I have proceeded with tracking down internet activities of yours. Below, is the sequence of past events: In the past, I have bought access from hackers to numerous email accounts (today, that is a very straightforward task that can be done online). Clearly, I have effortlessly logged in to email account of yours ___________. A week after that, I have managed to install Trojan virus to Operating Systems to all your devices that are used for email access. Actually, that was quite simple (because you were clicking the links in inbox emails). All smart things are quite straightforward. (><) The software of mine allows me to access to all controllers in your devices, such as video camera, microphone and keyboard. I have managed to download all your personal data, as well as web browsing history and photos to my servers. I can access all messengers of yours, as well as emails, social networks, contact list and even chat history. My virus unceasingly refreshes its signatures (since it is driver-based), and hereby stays invisible for your antivirus. So, by now you should already understand the reason why I remained unnoticed until this very moment... While collecting your information, I have found out that you are also a huge fan of websites for adults. You truly enjoy checking our porn websites and watching dirty videos, while also having a lot of kinky fun. I have recorded several kinky scenes of yours and montaged some videos, where you reach orgasms while passionately masturbating. If you still doubt my serious intentions, it only takes couple mouse clicks to share your videos with your friends, relatives, and even colleagues. It is also not a problem for me to allow these vids for access of public as well. I truly believe, you would not want this to occur, understanding how special are the videos you love watching (you are clearly aware of that) all that stuff can result in a real disaster for you. Let's resolve it like this: All you need is $888 USD transfer to my account (bitcoin equivalent based on exchange rate during your transfer), and after the transaction is successful, I will proceed to delete all that kinky stuff without delay. Afterwards, we can pretend that we have never met before. In addition, I assure you that all the harmful software will be deleted from all your devices. Be sure, I keep my promises. That is quite a fair deal with a low price, bearing in mind that I have spent a lot of effort to go through your profile and traffic for a long period. If you are unaware how to buy and send bitcoins - it can be easily fixed by searching all related information online." You are given not more than 48 hours after you have opened this email (2 days to be precise). Below is the list of actions that you should not attempt doing:

    Do not attempt to reply my email (it's useless, it's sent from your email). Do not attempt to call police or any other security services. Moreover, don't even think to share this with friends of yours. Once I find that out (make no doubt about it, I can do that effortlessly, bearing in mind that I have full control over all your systems) - the video of yours will become available to public immediately. Do not attempt to search for me - there is completely no point in that. All cryptocurrency transactions remain anonymous at all times. Do not attempt reinstalling the OS on devices of yours or get rid of them. It is meaningless too, because all your videos are already available at remote servers."

I hope this post spread awareness. It pains me to think if this was sent to someone younger, who probably might feel insecure or ashamed... they might actually send money over. These blackmailers/bullies probably will continue to request and bleed them dry. Even if they have "videos", remember your close family and friends love you.


Crypto news in 2023.11.14.

  1. The overall cryptocurrency market cap experienced a decrease of approximately 1.93%, dropping to $1.40 trillion. Bitcoin's price reflected this downturn with a 0.80% decrease, trading at $36,627. Despite this, Bitcoin's market dominance saw a minor uptick, suggesting it fared somewhat better than other cryptocurrencies during this period​​​​.
  2. The top gainers were led by Memecoin, which saw a significant increase of 61.41%. Other notable gainers included Sei and Worldcoin, indicating a day of mixed fortunes within the crypto space​​.
  3. Conversely, some cryptocurrencies did not fare as well, with 0x and FTX Token seeing losses of 13.11% and 13.76%, respectively, leading the day's top losers​​.
  4. The Coin of the Day was Bitget Token, which had an impressive performance of 13.25%, with bullish sentiment indicators suggesting a positive outlook for this digital asset​​.

  • Future of Digital Assets Seminar: This event, which started on November 14, 2023, was held in Manhattan, New York, and brought together industry leaders to discuss Bitcoin, blockchain, decentralized finance (DeFi), and non-fungible tokens (NFTs). Organized by Benzinga, it offered a platform for investors, entrepreneurs, and those interested in digital assets to gain insights into the evolving financial landscape​​.
  • ETHGlobal Pragma Conference: Scheduled for November 16, 2023, this event in Istanbul focused on the future of Ethereum. It aimed to bring together developers, experts, and enthusiasts for workshops, keynotes, panels, and networking, highlighting the importance of collaboration and innovation within the Ethereum ecosystem​​.

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Traditional finance is undergoing a dimensional shift to dominate the digital currency market.

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BlackRock's traditional ETF fund iShares has been strategically positioning itself in the cryptocurrency market since 2018. On one hand, it has been making necessary investments in infrastructure, and on the other hand, leveraging traditional financial market-making strategies to develop AI tailored for the cryptocurrency market. Even before the official recognition of Bitcoin ETFs in 2022, the iShares team ventured into the BlackRock's Trust Services (BRTS) project in March 2022.

BRTS utilizes the asset custody technology advantages of traditional financial ETFs, coupled with a powerful AI analysis engine, to provide customized asset custody services specifically for the cryptocurrency market. Currently, BRTS has achieved outstanding performance in the cryptocurrency investment field, including record-breaking returns from the initial offering of cryptocurrency funds. The openness and operation of BRTS signal the entry of Wall Street and other financial giants into the cryptocurrency arena, marking a pivotal moment for the indigenous inhabitants of the crypto world.

More and more traditional financial institutions entering the cryptocurrency market are causing significant changes. Take PayPal, for instance, which launched its stablecoin PYUSD in August 2023, becoming the first major financial company in the U.S. to introduce a stablecoin. This is a crucial milestone.

Another noteworthy event is the acceptance by the U.S. Securities and Exchange Commission of BlackRock's application to launch a Bitcoin ETF in July 2023. While the application has not yet been fully approved, this move signifies an objective market recognition of cryptocurrencies as legitimate investment assets. Despite the relatively small market size of cryptocurrencies compared to the traditional financial world, the mature technology, resources, and strategies of traditional finance can still make a significant impact in the cryptocurrency market.

BRTS was established by the BlackRock group to replace the previously unsuccessful application for a Bitcoin ETF. It serves as a special asset custody service to access a broader range of risk asset allocations.

Mature and Professional Asset Management Team

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Mature and professional asset management teams, such as that of BlackRock Group, which manages assets exceeding $10 trillion, provide a notable example. This is particularly evident in their recent efforts to operate a Bitcoin ETF. Financial analysts specializing in the field have pointed out that the approval of a Bitcoin ETF application, such as the one currently in progress at BlackRock, could instantaneously increase the fund's assets under management by several billion dollars. Simultaneously, the ETF would purchase and hold Bitcoin on exchanges like Coinbase, where BlackRock has made investments.

Founded in 1988 and originally a subsidiary of the Blackstone Group known as Blackstone Financial Management Corporation, BlackRock has experienced three decades of organic growth and strategic expansion. It has evolved into the world's largest comprehensive financial services group in terms of asset management, serving institutional and retail clients in over 100 countries and regions.

Early-stage cryptocurrency startups have faced painful lessons due to financial, managerial, and legal shortcomings. In May 2022, the collapse of Terra and LUNA was seen by many as a significant banking run within the cryptocurrency space. This catastrophe wreaked havoc on the entire industry, exposing significant deficiencies in managing counterparty risk.

The collapse of FTX serves as a stark example of poor financial management. Moreover, risky financial behaviors exhibited by many clients of cryptocurrency startups have exacerbated these issues.

Traditional finance excels in effective fund management, encompassing cash flow management, risk assessment and mitigation, strategic asset investments, and ensuring compliance with regulatory reporting agreements. The persistent uncertainties in the cryptocurrency space underscore the necessity for sound fund management practices, including diversification, risk assessment, and hedging strategies. Asset diversification and rigorous risk assessment can mitigate the inherent volatility in the cryptocurrency space, while effective hedging provides additional protection.

Furthermore, amidst these asset fluctuations, the ability to capture returns beyond traditional finance is achievable through rationalized asset allocation and hedging strategies.

Outstanding Financial and Market Resources

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North America currently stands as the largest cryptocurrency market, with an estimated on-chain value received between July 2022 and June 2023 reaching $12 trillion. This total constitutes 24.4% of the global transaction activity during the research period.

The majority of this activity is driven by the United States, ranking first globally. Canada also contributes significantly to the trading volume, securing the seventh position worldwide. The cryptocurrency market in North America is more influenced by institutional activities than any other region, with as much as 76.9% of the trading volume being propelled by transactions of $1 million or more. On-chain activities in the region are relatively evenly distributed between decentralized finance (DeFi) and centralized exchanges.

The cryptocurrency asset management market is expected to grow from $1.1 billion in 2023 to $3.1 billion in 2028, with a compound annual growth rate of 23.03% during the forecast period (2023-2028). In October 2022, BNY Mellon announced the launch of its digital asset custody platform in the United States, enabling certain clients to transfer and hold Bitcoin and Ethereum. This product reinforces BNY Mellon's commitment to supporting its clients' demand for reliable traditional and digital asset services.

Currently, nearly all early outstanding project investments and trading activities originate from North American institutional operators. With the development of this market, North American institutions have inadvertently gained control over the majority of market and financial resources. For example, BlackRock, having invested and strategically positioned itself in numerous leading institutions and projects related to cryptocurrency, including wallets, exchanges, infrastructure, and investment firms, has essentially completed a comprehensive layout across the entire cryptocurrency industry.

These traditional financial institutions, leveraging their inherent resource advantages, possess additional strengths in the cryptocurrency market. These advantages are resources that are challenging for so-called native cryptocurrency institutional teams to acquire.

Mastering Market Making, Controlling Liquidity

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The monopolization of cryptocurrency resources by these traditional financial institutions extends beyond mere ownership. Their true advantage lies in the vast experience they gained as market makers in traditional finance. Market making is a multifaceted challenge that tests the asset management team's awareness in finance, technology, strategy, and market operations.

In a nutshell, market makers provide liquidity to the market and generate profits within that liquidity framework. Quantitative trading, high-frequency trading, AI-driven strategies, and more are all different manifestations of being a "market maker" to varying degrees and through different means.

The business of traditional financial market makers originated in the early 19th century and has since evolved into a mature industry with diverse trading instruments, stable business operations, and relative revenue stability. Market makers, as significant participants in the financial markets, play a unique role in providing market liquidity and enhancing market efficiency. As the market has expanded, an increasing number of institutions and investment banks have entered the market-making business, making it a crucial source of income. Market making activities have become more concentrated at the top, leading to intense competition. To seize market share and clients, market makers continually upgrade their algorithms, technology, risk management, and compliance practices, gradually extending into the cryptocurrency domain.

Cryptocurrency market makers in the future are expected to exhibit some development characteristics akin to traditional financial market makers:

  • Increasingly diverse market participants.
  • Diversification of market offerings.
  • High business leverage.
  • More pronounced market-making concentration at the top.

Market makers need an in-depth understanding of market rules, liquidity, trading instruments, and trader behavior to make informed trading decisions. Market maker companies require an efficient, stable technological platform supporting real-time trading and data analysis. This platform should include algorithms for fast trade execution, high-speed data transmission and processing systems, and a secure trade settlement system.

These are precisely the critical advantages that a 30-year asset management company like BlackRock can achieve and are the core values that BRTS, leveraging leading AI technology, institutional prowess, and media advantages, dares to pioneer in market-making profitability.

Building on the advantages of traditional financial institutions like BlackRock, BRTS aims to become the most powerful asset custody service platform in the cryptocurrency domain.