Hardware Wallet Scam Costs Victim Over $282M, XMR Price Surges
- Significant Scam Loss: A victim lost over $282 million in BTC and LTC due to a hardware wallet social engineering scam, drawing widespread attention in the crypto community and highlighting the severity of such scams.
- Impact of Fund Transfers: The stolen BTC and LTC were rapidly converted to Monero (XMR) through multiple instant exchanges, causing XMR's price to surge from around $450 to nearly $800, indicating strong market demand for privacy coins.
- Platform Responsibility Controversy: THORChain's social media team faced backlash for celebrating the event post, with community members arguing that this could encourage criminal behavior and emphasizing the risks of social engineering scams on hardware wallet funds.
- Market Volatility Response: As attackers offloaded some proceeds, XMR's price retraced sharply after reaching new highs, now sitting below $630, reflecting market concerns over security and investor caution.
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Technical Analysis for LTC
Technical Sentiment Analysis for Litecoin (LTC) As of , Litecoin (LTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for LTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, LTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Litecoin (LTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 25.537 | 35.304 | 45.967 | 55.734 | 66.397 | 76.164 | 86.827 |
| Fibonacci | 35.304 | 43.108 | 47.929 | 55.734 | 63.538 | 68.359 | 76.164 |
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