Bitcoin price soars after introduction of CBOE Futures

Bitcoin prices spike by more than $1500 after CBOE Futures become available
11 December 2017   677

After all the collective fears about what the introduction of bitcoin futures will do to the cryptocurrency world, now everyone can stop holding their breath. It happened and there's no turning back. And you can't say that's bad news, because after CBOE finally started futures trading with bitcoin its price has started climbing.

The trading started yesterday on Gemini exchange at a price of $15000. As of now, the price is still rising and passed the $16500 mark. And the futures with expiration on January 2018 were trading at $18500, so the rise is $3500.

The rapid climb has already triggered two so called circuit breakers, which essentially is a defense mechanism implemented by the CBOE to give traders chance to stop and think over their next action, if any sudden price fluctuations take place. According to technical information, any gain or loss of more than 10% triggers a two minute break in trading to assess the situation, and any move above 20% will give a five-minute pause.

The introduction of bitcoin futures, which trade under the XBT ticker, can be the next big thing of trading market, because already more than 2000 contracts have been exchanged, and considering that one contract represents one Bitcoin, the total trading volume already exceeds $30 million. The demand was so high, actually, that the exchange's website had crashed under load almost immediately after opening the XBT trading option.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   277

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.