Bitcoin Key Levels for the Day

The BTC/USDT pair has dropped by 7.18% in the past 24 hours and is currently trading at $94,511. Bitcoin (BTC) is hovering around the $94,700 zone we highlighted in previous analyses. If it manages to rise, the next resistance level is $97,362. The support levels are $93,138 and $92,236.

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Ethereum (ETH): The ETH/USDT pair has lost 11.59% in the last 24 hours and is now trading at $3,244. For ETH, the resistance levels are $3,440 and then $3,535, while the support levels are $3,290 and $3,217.

Binance Coin (BNB): The BNB/USDT pair dropped by 8.24% in the past 24 hours and is trading at $640. For BNB, the resistance levels are $1,238 and $1,273. On the downside, the support levels are $1,064 and $0.993 if the decline deepens.

Hyperliquid (HYPE): The HYPE/USDT pair has decreased by 8.16% in the past 24 hours and is now trading at $23.61. Resistance levels for HYPE are $26.36 and then $29.07, while support levels are $22.89 and $21.41 in case of further decline.

Bitcoin Cash (BCH): The BCH/USDT pair has plummeted by 16.72% in the last 24 hours and is currently trading at $404.63. For BCH, the resistance levels are $451.7 and $487, while the support levels are $402.5 and $386.7.

Trending Coins

Among the most trending coins in the crypto market over the past 24 hours are Akuma Inu (AKUMA), LUKSO (LYX), and Pudgy Penguins (PENGU). The top gainers include Moca Coin (MOCA), Horizen (ZEN), and Zerebro (ZEREBRO). On the other hand, the biggest losers are Convex Finance (CVX), Gigachad (GIGA), and Morpho (MORPHO).

Bitcoin Liquidation Map

Examining Bitcoin’s 12-hour liquidation map, the most notable liquidation on the upside is $50 million at the $96,404 level. On the downside, a liquidation of $21.7 million is observed at $93,722.

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The post The Latest on Bitcoin and Cryptocurrencies: December 20 appeared first on Coin Engineer.

The event began with a sudden sell-off of GIGA tokens on November 12. The investor, who goes by the pseudonym “Still in the Game,” revealed they had fallen victim to a hack:

“Today’s massive sale happened because one of my wallets was drained via a fake Zoom link. This is tough, but I’ll stay in the game.”

According to the investigation firm Scam Sniffer, the victim clicked on a fake Zoom meeting link that led them to a site designed to steal crypto wallet security information. The phishing site installed malware on the victim’s device, which allowed the hacker to consolidate assets from three separate wallets into one, seizing all funds.

Onchain Lens, an analytics firm, reported that the hacker stole 95.3 million GIGA tokens, valued at $6.09 million. The hacker converted the stolen GIGA tokens into stablecoins, including $2.1 million worth of Solana (SOL), Tether (USDT), and USD Coin (USDC). The hacker then transferred the stablecoins to a different wallet and moved an additional 700 SOL tokens to the KuCoin exchange.

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The United States Federal Bureau of Investigation (FBI) and a forensic team are involved in the investigation to recover the stolen funds. After the incident, the victim expressed optimism about recovering their loss, saying, “I’ll make it all back and more. Just watch me.”

This event has once again highlighted the critical importance of crypto security. In particular, large exchanges like WazirX have increased security efforts following a recent $235 million cyberattack. WazirX founder Nischal Shetty announced plans to build a decentralized exchange (DEX) where users would have full control over their assets. This platform aims to let users manage their assets freely and includes a DEX token for platform fees and governance.

Crypto investors are strongly advised to be cautious when clicking links and to double down on authentication measures to protect themselves from such cyberattacks.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post The Reason Behind the Major Drop in GIGA Revealed! appeared first on Coin Engineer.