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Cryptocurrency morning roundup: Market down, hackers target HP servers and more

Even though cryptocurrency market trading volume rose, the market capitalisation has taken a major hit and tumbled in the last 24 hours.

Cryptocurrency morning roundup: Bitcoin, ethereum market down, hackers target HP servers and more
New Delhi, First Published Dec 29, 2021, 9:50 AM IST
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Even though cryptocurrency market trading volume rose 19.03 per cent ($103.21 billion), the market capitalisation has taken a major hit and tumbled 4.16 per cent in the last 24 hours. The market capitalisation now stands at $2.25 trillion.

Market data on Coinbase (at 09:40am) showed Bitcoin down 3.96 per cent to trade at Rs 35,92,177 while Ethereum (Rs 2,85,403.3) was down 3.97 per cent. Litecoin (Rs 11,109.68) dipped 1.57 per cent. Cardano (Rs 106.19) fell 4.26 per cent. Avalanche (Rs 8,246.67) dipped 0.82 per cent. Polkadot (Rs 2,156) fell 2.93 per cent. 

Binance gets Bahrain nod

Binance, the world's biggest cryptocurrency exchange by trading volume, has received an in-principle nod from the Central Bank of Bahrain to be a crypto-asset service provider in the kingdom. The approval came after Binance applied for a licence from the CBB to become a fully regulated centralised cryptocurrency exchange. The CBB action makes it the first regulator in the Middle East North Africa region to grant such approval to a Binance entity.

Central Bank of Russia to check transactions

The Central Bank of Russia intends to reach out to commercial banks to seek information on certain money transfers between private individuals, including those trading in cryptocurrency. Online crypto exchangers, whom the Central Bank had accused of conducting illegal operations, may face the heat following this move.

According to media reports, the decision comes after concerns over many platforms using accounts registered under dummy names such as online bookmakers and websites providing crypto trading services. In a statement, the Russian regulator said that its move is intended to identify the risk areas linked to the use of payment cards and wallets issued by unscrupulous participants in the financial market and cryptocurrency exchangers to fictitious individuals for settlements with Russian citizens.

HP-Branded Servers Hijacked

According to media reports, a group of HP-branded servers was recently hacked and utilised to remotely mine a cryptocurrency called raptoreum. The hack, carried out between December 9 and 17, allowed attackers to mine raptoreum coins worth $110,000 using the compromised cluster of HP servers. The machines became the biggest contributor to the total mining pool of the cryptocurrency.

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