Daily Archives: November 21, 2021

Crypto FOMO: Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto

Crypto FOMO: Australia's Largest Bank Sees 'Bigger Risks in Not Participating' in Crypto

The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained.

Crypto FOMO, Banks Need to Get Involved, Says CEO of Commonwealth Bank

Commonwealth Bank of Australia CEO Matt Comyn talked about the fear of missing out (FOMO) when it comes to bitcoin and cryptocurrency in an interview with Bloomberg Television in Sydney Thursday. Commonwealth Bank, or Commbank, is an Australian multinational bank with businesses across New Zealand, Asia, the U.S, and the U.K.

Comyn explained that although cryptocurrencies are “very volatile and speculative,” banks need to be involved in crypto and blockchain technology, citing the insatiable demand from customers to trade crypto. He said:

We see risks in participating, but we see bigger risks in not participating.

While emphasizing, “It’s important to say we don’t have a view on the asset class itself,” he noted, “We see it as a very volatile and speculative asset.”

Furthermore, the bank believes that crypto is here to stay. The CEO of Commbank opined:

We also don’t think that the sector and the technology is going away anytime soon. So we want to understand it, we want to provide a competitive offering to customers with the right disclosures around risks.

The Commonwealth Bank boss also commented on central bank digital currencies (CBDCs). “Many central banks are looking at the applicability of a central-bank digital currency, what would that look like, what would the benefits be of that,” he stated. “That’s something we’d like to participate in. We think it’s important that Australia is building capability and piloting different versions of the future. We are hopeful we can play a role in that.”

Early this month, the bank announced that it will be providing some customers with the ability to buy, sell, and hold crypto assets directly through its app in partnership with crypto exchange Gemini “CBA will provide customers with access to up to ten selected crypto assets including bitcoin, ethereum, bitcoin cash, and litecoin,” the bank said, adding that “The pilot will start in the coming weeks and CBA intends to progressively roll out more features to more customers in 2022.”

What do you think about the comments by the CEO of Australia’s Commonwealth Bank? Let us know in the comments section below.

Bitcoin Black Friday: Bitpay Reveals List of Merchants Offering Discounts and Special Promotions

Bitcoin Black Friday: Bitpay Reveals List of Merchants Offering Discounts and Special Promotions

While cryptocurrencies have seen their values rise significantly during the last three months many digital asset holders will be spending their tokens for holiday gifts and Black Friday deals. Bitcoin Black Friday will be on November 26 this year and the crypto payments firm Bitpay has announced a slew of merchants that will offer deals for shoppers paying with digital assets.

Bitpay Merchants Offering Black Friday Deals

The world’s largest cryptocurrency payments provider Bitpay has revealed a number of merchants the company is partnered with that will offer deals for Black Friday shoppers who prefer to pay in crypto. Bitcoin Black Friday has been celebrated for years now and bitcoiners have always been on the hunt for special deals every year it comes around. Bitpay has revealed a slew of merchants with special deals but some of the promotions will be unveiled during the course of Thanksgiving week until Friday.

Bitpay merchants participating in Black Friday this year include Ace Jewelers (20% selected items), the precious metals bullion dealer Apmex will give customers the cash price when they pay in crypto. When a customer buys a €500 e-fast gift card from Fast Private Jet the company will upgrade it to a €1,000. Stephen Pair, the CEO at Bitpay explained that the firm is seeing a lot of customers gravitating toward using crypto payments.

“We are seeing so many consumers wanting to live life on crypto and this holiday season again presented us with a great opportunity to support consumers who want to make purchases and merchants who accept crypto payments,” Pair explained during the Black Friday merchants announcement. “As the price of bitcoin continues to climb along with bitcoin cash, ethereum, litecoin and doge, crypto enthusiasts are looking for a way to cash-in and spend their earnings on holiday gifts and Bitpay merchants want to attract new buyers this holiday buying season,” Pair added.

Deals from Newegg, Sonic Electronix, Pacsun, Wrist Aficionado

Additionally, Bitpay announced that Hostkey will give a 10% discount on specific dedicated server plans, Jomashop.com will take $70 off for every $1,000 purchase using Bitpay. The popular ecommerce shop Newegg will give 20% off on select orders over $500, and the youth apparel store Pacsun will give special deals this Friday as well for Bitpay customers. Bitpay consumers shopping at Sonic Electronix will be entered to win a car audio package upgrade and a $100 Sonic Electronix gift card. Furthermore, Wrist Aficionado is offering customers who spend $10K, $300 sitewide on all products.

In addition to Bitpay’s merchants, the web portal bitcoinblackfriday.com will also have special deals and promotions for Black Friday shoppers who want to spend bitcoin. At the time of writing, bitcoinblackfriday.com’s deals are currently not available and there’s a message that states: “coming soon.” Bitpay itself is also offering a special deal for the company’s crypto card for U.S. residents only as it will offer the card for free on Black Friday. Bitpay’s full list of merchants can be found by visiting the Bitpay Merchant Directory.

What do you think about the upcoming Black Friday deals and Bitpay’s list of merchants offering promotions? Let us know what you think about this subject in the comments section below.

El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’

Bitcoin City

President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also announced that El Salvador would partner with Blockstream and use its liquid network to issue the aforementioned bond.

Bitcoin City Announced in El Salvador

El Salvador and its president, Nayib Bukele, have taken the next step that will integrate bitcoin further into the lives of its citizens. Bukele announced yesterday at the closing event of Labitconf, a Latam-based Bitcoin conference, the construction of the first Bitcoin City in the world that would be funded with the issuance of a $1 billion Bitcoin Bond.

El Salvador to Issue $1 Billion Bitcoin Bond to Fund 'Bitcoin City'

This city would be located at the east of the country, with its infrastructure being powered by geothermal energy. The city would also feature zero taxes for its citizens. On this, Bukele stated:

Invest here and make all the money you want. This is a fully ecological city that works and is energized by a volcano.

The only tax collected in the city would be a value-added tax, that will be used to fund the construction of the city with bonds and to maintain the public infrastructure and services. Bukele offered a glimpse into the design of the Bitcoin City, showing a circular model that will feature a central plaza with the bitcoin symbol.

Backed by Blockstream and Bitfinex

The issuance of the bonds will be managed by Blockstream, a bitcoin services-focused company, with the tokenized bonds being issued on top of its Liquid blockchain, a federated sidechain. The $1 billion that the initiative aims to raise will be divided into two parts. The first part will be used to purchase a $500 million allocation of bitcoin, and the second $500 million will be used to build bitcoin-specific mining and power infrastructure.

The tokenized bond will be available to a number of users in the world, that will have access to invest in small amounts of even $100 dollars, according to statements from Blockstream’s CSO Samson Mow. Dividends will be paid easily to bondholders using tools deployed on top of the Liquid network.

The country will have to approve a new securities law, and allow Bitfinex, the exchange selected for leading this process, to organize the bond issuance. This is easy for Bukele, because his party, New Ideas, controls most of the legislative power in the country. So, this is just a mere formality in the way of the Bitcoin City proposal.

What do you think about El Salvador’s Bitcoin City proposal and the bond issuance to fund it? Tell us in the comments section below.

Funganomics Completes Its First Seed Investment Round to Accelerate Development of the NFT and Gaming Ecosystem

PRESS RELEASE. The Ethereum-based solution will be a premier, bespoke online community, bringing together NFT investors, partners, play-to-earn gamers and developers.

While new NFT and PTE gaming sites are being deployed seemingly everyday, few if any have tied together in a seamless, intuitive way a truly robust and inclusive community that delights and rewards all key stakeholders.

Funganomics, however, is building for “what’s next” in this new and exciting space, addressing the gaps in functionality and user experience currently challenging other platforms and their digital communities.

Specifically, the new ecosystem will comprise several key functional areas that will work together symbiotically, including Fungatopia (NFTs), FGS Games (PTE Gaming) and Fungality (AR/VR Experiences) all completing successful registered trademark applications.

The UK-based company announced on 18th of November successful completion of its initial seed round of funding, the source of which was a private investor from the US. The company indicated it will use the funding to support staffing increases, additional technology infrastructure and software enablement.

Jeremy Roberts, CEO and Founder, said “Funganomics is uniquely positioned to provide a wide array of solutions to the Blockchain sector. We’ve taken an independent approach in our initial startup by funding the project ourselves until now, and we are very pleased to have both a substantial injection of new capital, as well as additional knowledge and experience that will assist the company in its aggressive growth goals over the coming months.”

Roberts added, “to-date the team has already achieved several, significant milestones and benchmarks in terms of progress, and we are well on our way to both the FGS token pre-sale and our first NFT game character drop through our custom-built platform. Funganomics is providing new technology at just the right moment in a thriving Blockchain market with very strong token utility. You can read our blog post on company progress here

The Funganomics token pre-sale is tentatively scheduled for 30th November, with the NFT character drop planned shortly thereafter on 16th of December.

To further amplify and hasten progress on its product portfolio roadmap, the company intends to formally explore venture capital alliances following their initial presale and NFT character introductions.

Visit to Know More:

Website: https://funganomics.com/

Twitter: https://twitter.com/FunganomicsNFTs

Instagram: https://www.instagram.com/funganomicsnfts/

LinkedIn: https://www.linkedin.com/company/funganomics/

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets

Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets

Cryptocurrency markets have started to recuperate from last week’s losses as bitcoin, ethereum, and a slew of digital assets have seen slight gains. However, the cryptocurrency avalanche has seen its value skyrocket this past week 46.9% higher over the last seven days. Avalanche has also crept into the top ten digital asset market valuations with its $31.5 billion market cap. On November 21, avalanche tapped an all-time price high at $144 per unit as the crypto asset has gained a whopping 3,795% in 12 months.

Avalanche Value Spikes Over 20% Over the Last 24 Hours

The crypto asset avalanche (AVAX) has increased a great deal over the last 24 hours jumping in value more than 21%. Besides gala (GALA), avalanche is the biggest crypto asset gainer during the last day. On Sunday, AVAX reached an all-time high (ATH) at over $144 per unit and has entered the top ten cryptocurrencies by market capitalization. AVAX’s market is just below the stablecoin market usd coin’s (USDC) $36.2 billion capitalization.

Seven-day statistics indicate that AVAX has climbed 46.9% in seven days, 83% in two weeks, over 133% during the last three months, and year-to-date, AVAX is up 3,795%. Tether (USDT) commands 63.84% of today’s AVAX swaps while the U.S. dollar has around 14.23% of AVAX trades. This is followed by trading pairs such as BTC (9.58%), BUSD (5.56%), TRY (3.86%), ETH (1.33%), and BNB (0.79%).

Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets

The most active crypto trading platform exchanging avalanche (AVAX) on Sunday is Binance. The exchange Binance is followed by Okex, Trader Joe, Huobi Pro, Bitfinex, and Coinbase in terms of AVAX trades. Defillama metrics show that AVAX holds the fourth-largest total value locked (TVL) in decentralized finance (defi) with $12.74 billion. In the last 24 hours, the TVL increased 10.85% and over the last week, it increased 20.95%.

The Avalanche-based decentralized exchange (dex) Trader Joe has seen a 34% increase in users over the last seven days and $1.1 billion in global trade volume. The dex Trader Joe is the second-largest platform in terms of trade volume below Uniswap’s $4.29 billion in weekly swaps. Trader Joe is also the sixth-largest defi protocol in terms of TVL with $2.59 billion total value locked on Sunday. Furthermore, Avalanche-based tokens like joe (JOE) and wonderland (TIME) have been rising in value alongside the native currency AVAX.

What do you think about Avalanche hitting an all-time high and making it into the top ten crypto assets in terms of market cap? Let us know what you think about this subject in the comments section below.

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigerian Remittances Rebound as Country Tops Sub Sahara Africa — Sending Costs Still High

Nigeria is once again Sub Sahara Africa’s biggest recipient of remittances into the region where the money transfers went up by 6.2 percent to $45 billion, a new World Bank report has shown.

The Impact of Nigerian Policies on Remittances

According to the November 17, 2021 press release, this increase in the value of funds sent is in fact a rebound from the total remittances that were sent by Nigerians in the corresponding period last year. The statement partly attributes this increase to measures that were introduced by the country’s monetary authorities in the first quarter of 2021.

These measures seek to encourage the use of formal channels when sending money back home.

“Nigeria, the region’s largest recipient, is experiencing a moderate rebound in remittance flows, in part due to the increasing influence of policies intended to channel inflows through the banking system,” the statement explained.

As previously reported by Bitcoin.com News, the Central Bank of Nigeria (CBN) — which had just issued its directive that targeted crypto entities — announced the start of an incentive scheme that rewarded recipients for withdrawing via the banking system back in March 2021. Since then, officials have claimed the scheme is helping to improve the flow of formal remittances into the country.

Sending Cost Still Far Below UN Target

Concerning the cost of remittances, the World Bank statement said the region’s sending fee — which dropped marginally from 8.9% to 8% in the first quarter of 2021 — still remains one of the highest in the world. The World Bank attributes this high cost of sending remittance to Sub Sahara Africa to the “small quantities of formal flows and the utilization of black-market exchange rates.”

Also, this sending cost also shows that the Sub Sahara Africa region is still way above the UN sustainable development goal (SDG) 10.c 1 target of reducing this to less than 3 percent. So far, only the South East Asia region has sending costs that are close to this SDG indicator with 4.6 percent.

Do you think it’s possible to reduce the cost of sending remittances to Sub Sahara Africa to under 3%? Tell us what you think in the comments section below.

Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says

Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says

Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country.

Bank of Russia to Charge for Digital Ruble Transfers

The Central Bank of Russia (CBR) is planning to impose fees on transactions with the digital ruble, revealed Kirill Pronin, director of the regulator’s Financial Technologies Department. The official emphasized that these commissions will be lower than current charges for transfers in the banking sector.

Speaking at a forum under the banner “Banking System of Russia: Ensuring Availability of Services and Resources in the Face of Increasing Risks,” Pronin further noted that the fees will certainly not exceed the costs of transfers with Russia’s Faster Payments System (FPS). Quoted by the business news agency Prime, he stated:

We assume fees on transactions with the digital ruble will be lower than existing fees on wire transfers for market participants and definitely not higher than commissions within the FPS framework.

Russia launched its Faster Payment System in January 2019. It allows Russian residents to send money using only a phone number and pay for goods and services with a QR code. Transfers of up to 100,000 rubles per month (approx. $1,350) are free of charge. A fee of 0.5%, but not more than 1,500 rubles (around $20), is applied to transfers exceeding this amount.

The Russian Federation’s central bank digital currency (CBDC) is still under development with experts working on its precise format. The digital ruble is expected to be implemented as a unique code, stored in a special electronic wallet, and become a full-fledged payment instrument alongside the regular ruble in its other two incarnations – cash and bank money.

Bank of Russia started contemplating a digital ruble back in 2018 and decided to explore the possibility of issuing the CBDC last year. A consultation paper was published in October 2020 to gather feedback from financial sector players and other stakeholders. In April 2021, the authority released a digital ruble concept outlining its principle architecture.

In June, the monetary authority formed a pilot group joined by over a dozen banks. CBR plans to complete the platform’s prototype in December 2021 and commence trials in January 2022. Elvira Nabiullina, the bank’s chair, recently stated that the digital ruble will provide Russian citizens with an alternative to cryptocurrencies and fiat-backed stablecoins while enabling cheap and reliable payments.

Do you think Russians will prefer to use the digital ruble platform over existing methods of money transfer? Tell us in the comments section below.

3air Leverages Blockchain Technology to Deliver Extensive Broadband Connectivity in Africa

The broadband internet connectivity platform, 3air, aims to bring seamless broadband connectivity within Africa. The recently announced platform recognizes the internet connectivity issues and the enormous interest in blockchain technology on the African continent. 3air solves the connectivity challenge by using wireless broadband technology to reach previously under-connected areas.

3air is built on the Cardano blockchain, leveraging the chain’s progressive technologies. Furthermore, the 3air token takes advantage of the IOHK Atala Prism Identification Management solution.

The company plans to build broadband in developing countries where other institutions have not been able to lay out the required infrastructure. Most of Africa’s internet users connect using mobile internet, which is often limited in bandwidth, expensive and unreliable. 3air plans to offer broadband internet with speed up to 1 Gbps, along with IP telephony and digital TV subscriptions.

According to the World Bank, building out the infrastructure for high-speed broadband internet will take at least until 2030 and require over $100 billion in investment. 3air’s proposed solution launches broadband services in a new country within 6 months and investments of around $10-$20 million.

3air Strengthening K3 Last Mile Tech

One of 3air’s most vital partners is K3 Telecom, a leading telecommunications service provider in the industry today. Its technology distributes microwave radio signals through the air, offering a faster and more cost-effective way of procuring services.

The K3 last mile technology institutes a base station which distributes internet services to users within a 30+mile radius. Teams on the ground conduct extensive research on city layouts to install base stations in strategic locations to optimize reach and performance.

In the long run, 3air’s vision is headed towards straightforward, affordable, and reliable communication pathways, unlike 3G networks. Moreover, the startup plans to educate Africa on blockchain technology after efficiently improving the region’s broadband internet connectivity.

The platform has also garnered several partnerships throughout its inception, joining forces with technology-based companies like CV Labs, Iceaddis, and more on its cause.

Identity management on the blockchain

3air is built on the Cardano blockchain, leveraging the chain’s progressive technologies. Furthermore, the 3air token takes advantage of the IOHK Atala Prism Identification Management solution.

The Atala Prism system allows for creation of digital identities called DID’s, that can be used for identification and personal information tracking with privacy options to give users their provable identities. This also allows for tracking credit scores for the user. With regular usage of broadband services and adding additional payment data, users can build their credit scores that can be used to take out loans within or even outside the platform.

3air to Unveil Africa’s Untapped Potential

To estimate the market potential, 3air lays out several estimations for rollout in different countries in its whitepaper. According to their research, Nigeria alone has the potential of generating $60 million of annual revenue in the broadband telecommunications industry. Combined with other developments within the continent, it shows the unprecedented potential that lies here.

Creating stable high-speed networks is one way to derive the best results from the developing cities while bringing more worth to citizens. Sandi Bitenc, CEO of 3air, talks about the importance of setting up broadband infrastructure:

“Imagine your private or business life without a fast and reliable internet connection. Unfortunately, this is the reality of many people in developing countries. Now imagine the troubles of such a country as a whole. Development of a 3rd world country needs to focus on multiple areas including economic development, social development, environmental protection, poverty eradication and others. Solving them is hard and occasionally conflicting, but solving them without information and connectivity is virtually impossible.”

To be a part of the 3air community and follow the company’s progress, you can register for the public pre-sale set to kick off on November 26 here.


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Socialite and Model Alexis Ren Doesn’t Trust the Dollar Economy, Says Crypto Is a Viable Alternative

Socialite and Model Alexis Ren Doesn't Trust the Dollar Economy, Says Crypto Is a Viable Alternative

The American social media personality and model, Alexis Ren believes the fiat economy is “collapsing” and recently she told the press she thinks cryptocurrencies offer a viable alternative. In a recent interview, Ren explained her interest in crypto is fueled by the socialite’s reservations in the dollar-based economy.

Alexis Ren: ‘The Economic Structure We Have Been Living on Is a Lie and It’s Delusional’

During the last 12 months, numerous analysts and economists have said that the U.S. economy faces uncertainty. At the end of October Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, explained that he believes America is “sliding into depression.” On Friday, Harvard economist Kenneth Rogoff told the media that he thinks “we’re on a knife-edge” in terms of where inflation in the U.S. is going. However, famed novelists, analysts, and American economists are not the only ones predicting bad times are ahead for the U.S. economy.

Business Insider’s (BI) Jim Edwards discussed the subject with the socialite and model Alexis Ren after she’s been telling people that she thinks the economy is based on lies. “I think the economic structure we have been living on is a lie and it’s delusional and it’s just an agreement and so we need to find something better, and I think bitcoin and cryptocurrency is that,” Ren explained in a Youtube video she crafted called “Truth or Drink.”

Speaking with Edwards, the Instagram star with 15 million followers told the BI reporter in a video call that the devaluation of USD is an issue. “They keep printing more of it, so that it has no value,” Ren stressed. “It used to be backed by gold and it’s not anymore. And so we don’t have any value except their belief and faith in it and that’s even scarier. Because now they’re just utilizing our faith in the dollar. And then there’s no set amount. And so there needs to be a new thing,” she went on to say.

Model Says the Current Economic System Is ‘Not Sustainable’

The popular model further detailed that the U.S. economy was “collapsing” and she highlighted that the current money creation issue is a never-ending cycle. “I know that but we’re in debt, so we’re trying, we’re printing more money to pay back debt and then we just keep accumulating more debt. It’s a black hole,” Ren said. The social media star thinks that the economic system is “not sustainable” and opined what she thinks American citizens want. “An economy that’s sustainable and that can move with us,” Ren added.

The interview further explains Ren’s appreciation for cryptocurrencies and non-fungible token (NFT) assets. Ren is the founder of a tech platform called Yourstage.io and the project recently revealed its plans to tie NFTs to the company’s brand. Yourstage.io will leverage NFTs for a subscription to the service rather than cash payments. Concluding the interview with BI’s contributor Jim Edwards, Ren told the reporter that people should invest a small amount “in cryptocurrencies every month.”

What do you think about the recent interview with the social media star and model Alexis Ren? Do you agree with her that the dollar-based economy is “collapsing” and cryptocurrencies are a viable alternative? Let us know what you think about this subject in the comments section below.

Canada Detains Teen for Alleged $36 Million Cryptocurrency Theft

Canada Detains Teen for Alleged $36 Million Cryptocurrency Theft

A teenager has been arrested in Canada after committing what law enforcement officials in Ontario have described as the largest crypto theft by a single person. The Canadian is accused of stealing tens of millions of dollars through a SIM swap targeting a crypto holder in the U.S.

Teen Arrested in Canada for Stealing Crypto Fortune From American

A young Canadian from Hamilton, Ontario province, has been accused of stealing cryptocurrency worth $46 million Canadian dollars (over $36 million). The digital money was allegedly misappropriated in a SIM swapping attack on a victim residing in the United States.

Canada Detains Teen for Alleged $36 Million Cryptocurrency Theft

Local police believe this is the largest crypto theft committed by one man, the Toronto Star reported. In March 2020, Canadian law enforcement joined forces with the U.S. Secret Service Electronic Crimes Task Force and the FBI on the investigation which led to the arrest of the teenager, according to a statement by the Hamilton Police Service.

The press release revealed that police officials were able to identify the perpetrator when he used some of the digital coins to buy a rare online gaming username. If it wasn’t for this decision, the newspaper notes, the youngster could have gotten away with the crime.

The teenager now faces a sentence of up to 10 years in prison for the staggering cryptocurrency theft. Canadian authorities also announced they had already conducted multiple seizures of crypto assets at an estimated value exceeding seven million Canadian dollars (over $5.5 million).

In a SIM swap, fraudsters manage to port a victim’s phone number to different SIM card by exploiting security weaknesses at the mobile phone service provider. Scammers often convince or bribe employees of the carrier to conduct the transfer, after which they would receive any messages and calls on a device they control, including those that are intended for authentication purposes.

Crypto-targeting SIM swapping attacks have been on the rise globally as bitcoin prices broke all-time highs this year. In February, Europol detained 10 members of a SIM swapping criminal gang that allegedly stole coins worth $100 million, as Bitcoin.com News reported. The arrests followed an international investigation into a series of cases involving this particular technique in 2020.

Do you expect SIM swapping attacks on cryptocurrency holders to further increase in the future? Share your thoughts on the subject in the comments section below.