A blockchain research firm, Chainalysis, revealed crypto-ransomware attacks of 2021 racked up $602 million in Bitcoin and other currencies, and that figure could be even higher. In addition, the report pronounced a Russian-based hacker group named Conti as the most active and largest group of hackers by revenue last year. The analysis firm expressed that they have counted for all of it yet, and the figure of stolen money may be even more extensive, rising as high as $1 billion. Related Reading | Over $5 Billion In BTC Paid In Top 10 Ransomware Variants, Says U.S. Treasury In a Chainalysis preview report of 2022, the firm has confirmed the rapid growth in ransomware crimes. It explained that its initial estimate (that’s still an underestimate) of $350 million has jumped to $692 million.   Chainalysis stated, In fact, despite these numbers, anecdotal evidence, plus the fact that ransomware revenue in the first half of 2021 exceeded that of the first half of 2020, suggests to us that 2021 will eventually be revealed to have been an even bigger year for ransomware. The firm explained that ransomware attacks, pretty much like computer viruses, are dangerous and ever-changing too, so they can easily avoid law enforcement and updated security measures in a system. Ransomware Attacks: 2020 VS 2021 Similarly, the average payout of ransomware rose to $118,000 in 2021, up 26% compared to its previous $88,000 in 2020. The most significant cause behind the higher increase of these numbers per the Chainalysis is a ‘big game hunting strategy. Ransomware strains have been employed in it increasingly to target big corporations for ransomware. The number of most active strains in 2021 also has broken all its previous records with 140 groups that received cryptocurrencies. It is up 21 from 2020’s figure and 61 from 2019. Conti Group Becomes The Biggest Strain Of 2021’s Ransomware Attacks The recorded ransomware payments of 2019 stand at $152 million and only $39 million in 2018. In contrast, the last year’s figure has increased dramatically. As a result, the Russian-based hacker group ‘Conti’ is the biggest strain by revenue, per the Chainalysis. Last year, the Russia-based hacker group Conti became one of the ransomware’s most active and profitable strains. The Conti Group has extorted nearly $200 million from their victims in Bitcoin and Monero. The group uses the ransomware-as-a-service (RaaS) model as the key and believes in sharing its program with affiliates to exchange a fee. Another ransomware strain named ‘DarkSide’ who previously marked the historic attack on U.S Colonial Pipeline, which resulted in petroleum shortage, came in second to Conti. DarkSide asked the company to pay them $5 million in Bitcoin at the hack time. Additionally, it nearly fetched over $75 million through the course of a year in similar hacks. Related Reading | The US Offers A $10M Reward For Information On DarkSide Ransomware Group Chainalysis found Conti to be the only active strain throughout this past year. At the same time, most others “Wavered in and out like a wave going up then down.” Featured image by Pixabay and chart from Tradingview.com

ESTNN covers all the ins and outs to break down the basics of Magical DPS in Final Fantasy XIV. If…

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The ethereum founder Vitalik Buterin warns the President of Russia Vladimir Putin that if he decides to invade Ukraine, the results will harm humanity as tensions mount over the chances of Russia invading Ukraine so let’s see more what he had to say in our latest Ethereum news. Vitalik Buterin is the founder of Ethereum […]

It did not take much — around $3,500 off the Bitcoin price — for crypto traders to have a change of heart.

The GALA coin price shows a rising trend momentum as the downfall continues to challenge the $0.30 mark. Will the price succumb under $0.30? GALA is an Ethereum-based currency that powers Gala Games. It is a platform that is designed to revolutionize the industry of gaming by giving players control of their games. The goal of the project is to change the way players invest hundreds of pounds for in-game assets, as well as countless hours playing the game that could be removed from them at the touch of an icon. The project aims to bring back creativity to gameplay by giving gamers the ability to control the game’s assets and games by using blockchain technology. Let us move ahead to read about Gala Games technical analysis. Past Performance of GALA GALA token price fails to rise above the resistance zone at $0.40 resulting in a downfall of more than 20% in the past 72 hours. The retracement creates triple black crow formation in the daily chart. Hence, the rising trend momentum in the downfall creates the triple black crow pattern suggesting a bearish continuation. GALA/USD Daily Chart GALA Technical Analysis The GALA coin price shows an increased selling pressure as the retest of trendline breakout gains momentum. Therefore, traders can find the price falling under the trendline, generating a selling opportunity. The MACD indicator shows a falling distribution of the bullish histogram projecting a possible end of the bullish cycle. Moreover, the falling slope of the MACD line might shortly give a bearish crossover in the daily chart. The RSI Power indicator shows a sudden surge in the bearish power as the slope falls below to the 50% mark. Moreover, the slope can shortly give a bearish crossover with the 14-day SMA.  The Super Trend Indicator shows the price fall sustains above the slope projecting an uptrend in action. However, the fall within the trendline can catalyse the downfall below the $0.24 mark.  In short, the rising trend momentum favors the underlying bearishness in the GALA coin price. Upcoming Trend The GALA coin price shows increased selling pressure and lowers the possibility of post-retest reversal. Therefore, traders can find selling opportunities below the $0.27 mark with a target at $0.20. However, traders need to wait for the price action confirmation to avoid a bullish reversal. 

The post GALA Technical Analysis: Sellers Swiftly Overtake Trend Control  appeared first on Cryptoknowmics-Crypto News and Media Platform.

The AXS coin price faces the threat of bearish invasion as the selling pressure grows with the rejection near the 50-day EMA. Will the downfall reach $50? AXS is the Ethereum token, which is the basis for Axie Infinity, a blockchain-based game that lets players fight with each other, collect coins, and build the digital world of their pets. The token holders can earn rewards for depositing their tokens while playing the game as well as participating in key decisions regarding governance. Let us move ahead to read about Axie Infinity technical analysis. Past Performance of AXS AXS token price shows a downfall of almost 20% in the past four days from the 50-day EMA resulting in the falling channel retest. Moreover, the recent fall of 6.72% in the past 24 hours reflects the rise in the trend momentum. However, the confluence of a horizontal level at $60 and the falling channel indicates a possible post-retest reversal. AXS/USD Daily Chart AXS Technical Analysis The AXS coin price shows lower price rejection near the upmost trendline of the falling channel and the $60 mark. Therefore, despite the rising trend momentum in the downfall, traders can shortly find a buying opportunity.   The MACD indicator shows a failure of the fast line to surpass the zero line resulting in a sideways movement. Hence, the chances of a bearish crossover are increasing as the gap within the fast and slow line decreases. The Bull and Bear Power indicator shows a rise in the bearish powers as the slope crosses below the zero line after the rejection near 23%. Therefore, the indicator reflects the increased selling pressure.  The crucial Exponential moving averages are trending lower to achieve the bearish alignment as the falling 100-day EMA may shortly cross below the 200-day EMA. Moreover, the 50-day EMA provides dynamic resistance to keep the bullish growth in check. In short, the technical indicators showcase a rise in the underlying bearishness promoting the fallout below $60 possibility. Therefore, AXS traders can find a selling opportunity shortly. Upcoming Trend The AXS coin price struggles to avoid bearish invasion as the selling pressure increases with the recent downfall. Therefore, the reversal possibility with the successful retest of the falling channel breakout decreases.  Therefore, buyers need to wait till the breakout of $70 before siding with the bulls. The uptrend can reach the $90 mark with a successful retest. However, the fallout will result in a selling opportunity with a target at $50.

The post AXS Technical Analysis: Increased Bearishness Intensifies Retest Phase appeared first on Cryptoknowmics-Crypto News and Media Platform.

Nonfungible tokens can power another paradigm shift via the experience-to-earn model, which welcomes anyone into the NFTs space.

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Julien Gaillard, the former Chief Data Scientist at Twitter Spaces, announced on Twitter that he is leaving Silicone Valley social media giant to become Head of Data Science at DeFi lending platform Aave.

The post Silicon Valley employees go away from large companies to Web3. What is the future of the Internet? appeared first on CryptoSlate.

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The rapid growth of cryptocurrency shows no signs of stopping. As traditional assets lose yield, institutional and ordinary investors are shifting to cryptocurrency. As the market is rapidly growing, finding the right platform that offers a convenient trading experience can be a difficult endeavor for users new to the space. BitYard is an all-in-one crypto […]