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Scam victim puts $30,000 in cash into bitcoin machine: Pepper Pike Police Blotter

AltcoinUpdates Staff

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cleveland.com

PEPPER PIKE, Ohio

Theft by mistake, fraud: Shaker Boulevard

A resident in his 70s reported on May 15 that the day before his computer had frozen, followed by a pop-up message on his screen claiming that they were Microsoft technicians ready to help.

He said he called the number and was persuaded to withdraw $30,000 in cash from his bank in North Royalton, where employees allegedly tried to stop him, saying it looked like a scam.

The victim then deposited the money into a bitcoin ATM, believed to be in Northfield. Police noted that money placed into any Bitcoin machine can be difficult to track.

Robbery (shoplifting): Pinetree Road

Police arrested an accused shoplifter known for his extravagant tastes at Pepper Pike Heinen’s grocery store earlier this year.

After Beachwood police arrested a 46-year-old Shaker Heights man the week of May 13 in his Giant Eagle, Pepper Pike officers had the opportunity to interview him and confirm a tentative identification they had developed.

He is now charged in Shaker Heights Municipal Court with two additional counts of misdemeanor theft, involving champagne worth $360 taken on Jan. 10, followed by two packages of crab legs worth about $100 in February 2 nd.

There is also an attempted robbery charge involving four bottles of champagne and three packages of crab legs on February 28, where he was stopped and claimed to have paid more than $300 for them before leaving the store without the merchandise.

It was unclear from initial reports what the suspect was trying to steal from the Beachwood Giant Eagle.

Property damage: Bryce Road

A resident reported damage and graffiti to a fence at an adjacent property around 9:45 a.m. on May 17.

Identity Theft: Shaker Boulevard

A resident reported on May 10 that he had received notification from Goldman Sachs that his savings account was overdrawn. He then informed the bank that he does not have a savings account, as police determined that the resident did not withdraw any money as a result of the fraudulent activity.

Disturbance: Meadowlark Way

Police responded to a report of a heated argument at a home around 5pm on May 14, arriving to find a boyfriend and girlfriend at loggerheads over a recent credit card purchase. There were no injuries and police mediated the situation.

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Read more from Chagrin Sólon Sol.

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We are the editorial team of Altcoin Updates, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Altcoin Updates, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

Bitcoin (BTC), Stocks Bleed as China’s Surprise Rate Cut Signals Panic, Treasury Yield Curve Steepens

AltcoinUpdates Staff

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Bitcoin (BTC), Stocks Bleed as China’s Surprise Rate Cut Signals Panic, Treasury Yield Curve Steepens

Risk assets fell on Thursday as China’s second rate cut in a week raised concerns of instability in the world’s second-largest economy.

Bitcoin (BTC)the leading cryptocurrency by market cap, is down nearly 2% since midnight UTC to around $64,000 and ether (ETH) fell more than 5%, dragging the broader altcoin market lower. The CoinDesk 20 Index (CD20), a measure of the broader cryptocurrency market, lost 4.6% in 24 hours.

In equity markets, Germany’s DAX, France’s CAC and the euro zone’s Euro Stoxx 50 all fell more than 1.5%, and futures linked to the tech-heavy Nasdaq 100 were down slightly after the index’s 3% drop on Wednesday, according to the data source. Investing.com.

On Thursday morning, the People’s Bank of China (PBoC) announced a surprise, cut outside the schedule in its one-year medium-term lending rate to 2.3% from 2.5%, injecting 200 billion yuan ($27.5 billion) of liquidity into the market. That is the biggest reduction since 2020.

The movement, together with similar reductions in other lending rates earlier this week shows the urgency among policymakers to sustain growth after their recent third plenary offered little hope of a boost. Data released earlier this month showed China’s economy expanded 4.7% in the second quarter at an annualized pace, much weaker than the 5.1% estimated and slower than the 5.3% in the first quarter.

“Equity futures are flat after yesterday’s bloody session that shook sentiment across asset classes,” Ilan Solot, senior global strategist at Marex Solutions, said in a note shared with CoinDesk. “The PBoC’s decision to cut rates in a surprise move has only added to the sense of panic.” Marex Solutions, a division of global financial platform Marex, specializes in creating and distributing custom derivatives products and issuing structured products tied to cryptocurrencies.

Solot noted the continued “steepening of the US Treasury yield curve” as a threat to risk assets including cryptocurrencies, echoing CoinDesk Reports since the beginning of this month.

The yield curve steepens when the difference between longer-duration and shorter-duration bond yields widens. This month, the spread between 10-year and two-year Treasury yields widened by 20 basis points to -0.12 basis points (bps), mainly due to stickier 10-year yields.

“For me, the biggest concern is the shape of the US yield curve, which continues to steepen. The 2- and 10-year curve is not only -12 bps inverted, compared to -50 bps last month. The recent moves have been led by the rise in back-end [10y] yields and lower-than-expected decline in yields,” Solot said.

That’s a sign that markets expect the Fed to cut rates but see tighter inflation and expansionary fiscal policy as growing risks, Solot said.

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How systematic approaches reduce investor risk

AltcoinUpdates Staff

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How systematic approaches reduce investor risk

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

July 24, 2024, 5:30 p.m.

Updated July 24, 2024, 5:35 p.m.

(Benjamin Cheng/Unsplash)

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India to Release Crypto Policy Position by September After Consultations with Stakeholders: Report

AltcoinUpdates Staff

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Amitoj Singh

“The policy position is how one consults with relevant stakeholders, so it’s to go out in public and say here’s a discussion paper, these are the issues and then stakeholders will give their views,” said Seth, who is the Secretary for Economic Affairs. “A cross-ministerial group is currently looking at a broader policy on cryptocurrencies. We hope to release the discussion paper before September.”

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Bitcoin (BTC), Ether (ETH) slide as risk aversion spreads to crypto markets

AltcoinUpdates Staff

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Bitcoin (BTC), Ether (ETH) slide as risk aversion spreads to crypto markets

Ether, the second-largest token, fueled a slide in digital assets after a stock rout spread unease across global markets.

Ether fell about 6%, the most in three weeks, and was trading at $3,188 as of 6:45 a.m. Thursday in London. Market leader Bitcoin fell about 3% to $64,260.

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