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In the dynamic world of cryptocurrencies, fraud remains a persistent issue, despite a notable decrease in 2023. Chainalysis's research uncovered that approval phishing scams led to a loss of around $374 million in 2023, marking a 27% decline from the previous year. However, the staggering amount stolen underscores the ongoing threat to investors.
Approval phishing, a tactic where fraudsters trick users into authorizing transactions that enable access to funds, has become increasingly sophisticated. The largest single phishing address, according to Chainalysis, managed to expropriate $44.3 million from unsuspecting victims. This form of scam is particularly insidious in the Ethereum blockchain, where decentralized applications (dApps) often require users to sign transactions granting access to their funds.
The nature of these scams has evolved, with fraudsters now often targeting individuals, building trust through personalized approaches, including romance scam tactics. This evolution in strategy indicates a shift from widespread, less personalized attacks to more calculated, targeted ones, making them harder to detect and prevent.
Despite the decline in overall fraud numbers, the high success rate of some phishers is alarming. Out of 1,013 identified scam addresses, a few were exceptionally effective, with the top ten accounting for 15.9% of the total value stolen. This concentration of success in a small number of addresses highlights the need for increased vigilance and improved security measures within the crypto ecosystem.
As for Ethereum, the ETH/USDT pair demonstrated resilience by rebounding from the internal trend line support at approximately $2,192. The intraday support is located at $2,179, while resistance levels are identified at $2,258 and $2,332. The market's direction remains uncertain as both bulls and bears vie for control.
The H4 momentum indicator points to a potential bullish trend, with a possible breakout towards $2,400. However, only a sustained move below the last swing low at $2,166 would alter the market's outlook to bearish.
Ethereum's long-term outlook remains positive as long as the price stays above the crucial support level of $1,368. The mid-term support at $1,913 is also critical for sustaining the bullish trend.
The sentiment in the Ethereum market leans bullish, with 77% in favor of bulls versus 23% for bears. This bullish sentiment has remained stable over the past week and the last three days.
In the context of Ethereum trading, investors should cautiously monitor key support and resistance levels. For bullish traders, a sustained move above mid-term support levels indicates potential for continued upward momentum. Conversely, bears should watch for breaks below these critical levels, signaling possible bearish turns. Amidst the backdrop of evolving cryptocurrency fraud, traders must stay informed and exercise prudent risk management.
The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses.
Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.
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*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
