Latest news with #XMR
New Indian Express
3 days ago
- New Indian Express
Ketamelon kingpin used ID cards sourced from darkweb for drugs trade
KOCHI: The kingpin behind Ketamelon, a darknet-based drug trafficking platform operating across India, procured identity cards from the darknet to ship LSD blots and ketamine, the Narcotics Control Bureau (NCB) has found. The central agency has initiated steps to freeze the assets of the accused, believed to have been acquired through proceeds of crime. NCB had earlier arrested Edison Babu, a resident of Muvattupuzha, along with Arun Thomas, after a probe revealed that Edison was operating the Ketamelon platform on the dark web. Investigators found that Edison procured multiple government-issued ID cards, such as Aadhaar, PAN, and election IDs, from darknet marketplaces using cryptocurrency to book parcels for drug deliveries. 'There are several platforms on the darknet selling forged identification documents. The accused used these to book parcels anonymously, helping him evade detection if a consignment was intercepted,' said an NCB source. The agency has also identified several individuals who were purchasing drugs via the Ketamelon platform. 'We have located some of them and they are currently under surveillance. A detailed probe is under way with assistance from our units in other states,' an official said. Investigators found that Edison had dispatched over 600 parcels to customers in the past year alone. While the exact value of the illicit earnings is yet to be determined, as most transactions were conducted using Monero (XMR). This privacy-focused cryptocurrency conceals sender and receiver details. 'We interrogated both Edison and Arun for four days after securing their custody last week. However, more information needs to be gathered, and we will be seeking further custody from the court,' the official added. The accused reportedly made significant investments and acquired properties in Ernakulam and Idukki districts. The authorities are now collecting detailed information on these assets to prevent further transactions.
New Indian Express
03-07-2025
- New Indian Express
Darknet drug racket traded in hard-to-track crypto, says Kerala NCB
KOCHI: The Muvattupuzha native who ran the darknet-based drug racket Ketamelon used Monero (XMR), a privacy-focused cryptocurrency that is now popular for illegal activities, the Narcotics Control Bureau (NCB) has found. The central agency's investigation into the operations of 35-year-old Edison, an engineer by profession, revealed that he managed the drug network single-handedly and shipped over 600 consignments of LSD blots and ketamine clandestinely across India. Edison used Monero, commonly known as XMR, to procure LSD and ketamine from abroad and also to sell it, the NCB probe revealed. 'Monero is an untraceable cryptocurrency widely used by terrorist outfits and international drug syndicates for moving money. Unlike Bitcoin, it leaves no transaction trail, making it extremely difficult to track. Edison was using Monero to source drugs from the UK and sell them to people who placed orders on the darknet,' a source told TNIE. On Wednesday, the value of Monero stood at Rs 27,177. A cryptocurrency expert who wished to remain anonymous said Monero is traded under the symbol XMR. Although people can buy and sell Monero in India, it is preferred by criminals due to its confidential nature. Monero is used worldwide for illicit activities such as money laundering, darknet markets, ransomware, cryptojacking, and other organised crimes.
Yahoo
01-07-2025
- Business
- Yahoo
XRP, TRX, DOGE Lead Majors With Positive Funding Rates as Bitcoin's Traditionally Weak Quarter Begins
A key metric called perpetual funding rates is signaling bullishness for top altcoins as bitcoin (BTC) kicks off the traditionally weak third quarter quarter with flat price action. Funding rates, charged by exchanges every eight hours, refer to the cost of holding bullish long or bearish short positions in the perpetual (perps) futures (with no expiry). A positive funding rate indicates that perps are trading at a premium to the spot price, necessitating a payment from longs to shorts to maintain bullish bets. Therefore, positive rates are interpreted as representing bullish sentiment, while negative rates suggest otherwise. As of writing, perps tied to payments-focused token XRP (XRP), the world's fourth-largest digital asset by market value, had an annualized funding rate of nearly 11%, the highest among the top 10 tokens, according to data source Velo. Funding rates for Tron's TRX (TRX) and dogecoin (DOGE) were 10% and 8.4%, respectively, while rates for market leaders bitcoin and ether were marginally positive. In other words, the XRP market demonstrated the strongest demand for leveraged bullish exposure among other major cryptocurrencies, including BTC and ether (ETH). That's consistent with the spike in bullish sentiment for XRP last week, despite the settlement between Ripple and the SEC stalling, as noted by Santiment. Privacy-focused monero (XMR) stood among tokens beyond the top 10 list with a funding rate of over 23%, while Stellar's XLM token signaled a strong bias for bearish bets with a funding rate of 24%. Historically, the third quarter has been a weak period for bitcoin, with data indicating an average gain of 5.57% since 2013, according to Coinglass. That's a far cry compared to the fourth quarter's 85% average gain. BTC's spot price remained flat at around $107,000 at press time, offering no clear direction bias. Valuations have been stuck largely between $100,000 and $110,000 for nearly 50 days, with selling by long-term holder wallets counteracting persistent inflows into the U.S.-listed spot exchange-traded funds (ETFs). Some analysts, however, expect a significant move to occur soon, with all eyes on Fed Chairman Jerome Powell's speech on Tuesday and the release of nonfarm payrolls on Friday. Sign in to access your portfolio
Business Upturn
19-06-2025
- Business
- Business Upturn
Exploring the Top Cloud Mining Platforms of 2025: Your Complete Guide
By GlobeNewswire Published on June 19, 2025, 02:00 IST New York, NY, June 18, 2025 (GLOBE NEWSWIRE) — 1. Why Choose Cloud Mining? Zero Hardware Costs Eliminates mining rig purchases and high electricity/maintenance fees. Eliminates mining rig purchases and high electricity/maintenance fees. Easy Scalability Instantly adjust computing power based on network difficulty. Instantly adjust computing power based on network difficulty. Eco-Conscious Premier providers tap into clean energy sources to slash their carbon footprint. 2. Key Evaluation Criteria for Cloud Mining Platforms Transparency & Security Prioritize platforms supporting on-chain audits, multi-sig wallets, and clear fees. Multi-Coin Support Beyond BTC, seek ETH, XMR, Dogecoin, and other major cryptocurrencies. Exchange Integration Services like Binance Cloud Mining enable direct payouts to exchange wallets. User Experience Intuitive dashboards, one-click activation, real-time metrics, and mobile support. Community Trust Verify user reviews to identify trusted cloud mining sites. 3. Platform Spotlight: HASHJ Cloud Mining AI-Driven Efficiency Automatically distributes processing capacity among eco-friendly data centers. Automatically distributes processing capacity among eco-friendly data centers. Adaptive Plans From no-cost compute trials to high-end package tiers, there's an option for every miner. From no-cost compute trials to high-end package tiers, there's an option for every miner. Multi-Asset Ecosystem Mine major coins + participate in XRP staking. Mine major coins + participate in XRP staking. Instant Withdrawals Daily automated payouts settled in seconds. 4. Limited Offer: $100 Free Computing Power + €18 Cash Bonus Upon signing up, new members are immediately granted $100 in compute resources and an €18 cash bonus—with no deposit necessary. Profit Scenario (at BTC/EUR ≈ €94,500): An allocation of $100 in compute power (roughly €90) can produce returns of €180–€200 within 24 hours. within 24 hours. €18 bonus: €206–€216 first-day net profit. 3-Step Activation: Visit → Register & verify Automatically receive computing power + bonus → One-click activation Withdraw earnings after 24 h 5. Other Leading Cloud Mining Platforms NiceHash Hash power marketplace with flexible algorithms. Hash power marketplace with flexible algorithms. Genesis Mining Industry pioneer operating since 2013. Industry pioneer operating since 2013. ECOS Cloud Mining Integrated wallet + multi-coin support. Integrated wallet + multi-coin support. Hashflare Customizable contracts for advanced users. Customizable contracts for advanced users. MinerGate Beginner-friendly GUI interface. Whether testing free cloud mining or diversifying your crypto cloud mining portfolio, this $100 computing power + €18 offer is your optimal entry to passive income. Head to today to begin your expert-level cloud crypto mining advent Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
29-05-2025
- Business
- Yahoo
Markets Are Stalling, Liquidity Is Tightening — And Solana Could Be The First Domino To Fall
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Despite being a top-six cryptocurrency by market capitalization, Solana has notably underperformed during the recent altcoin recovery phase. Technical analysis reveals concerning patterns that suggest the asset may be entering a period of exhaustion, potentially making it vulnerable to significant downside if broader cryptocurrency liquidity begins to flow out of the market. Solana established a significant low of $95 in April 2024 before embarking on a substantial rally that peaked at $187 last week—representing a 97% gain from the cycle low. However, this impressive percentage move masks underlying technical weakness that has become increasingly apparent when compared to peer altcoins. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . While Solana's absolute gains appear substantial, the asset has conspicuously lagged behind the broader altcoin recovery. This relative weakness is particularly notable given Solana's position as one of the largest cryptocurrencies by market cap and its historically strong correlation with altcoin momentum cycles. Understanding the Three-Drive Formation The daily chart reveals a classic three-drive pattern—a technical formation that often signals the end of a trending move. This pattern consists of three successive higher highs, each accompanied by diminishing momentum and follow-through. Key characteristics observed: Three distinct peaks taking out previous daily highs Failure to sustain bullish momentum with strong closing prices Decreasing volume and conviction on each successive high Lack of meaningful breakout beyond the established range Three-drive patterns are considered exhaustion signals because they demonstrate: Diminishing buying pressure – Each new high requires more effort to achieve Seller absorption – Market participants begin taking profits at higher levels Momentum divergence – Price makes new highs while underlying strength weakens Stronger Performers Show Different Characteristics A comparative analysis with other major altcoins reveals Solana's relative weakness: SUI, TAO, and XMR Performance Metrics: Demonstrated willingness to trade at higher levels consistently Successfully retraced to above 50% of their respective weekly ranges Showed sustained momentum following breakout attempts Maintained stronger relative strength ratios Solana's Contrasting Behavior: Failed to maintain positions above key weekly range levels Showed immediate weakness following new highs Demonstrated poor follow-through on upside attempts Trending: New to crypto? on Coinbase. Important Clarification on Solana's Value Proposition This technical analysis should not be interpreted as a fundamental critique of Solana's underlying value or technology. The network continues to demonstrate: High transaction throughput and low fees Growing developer activity and ecosystem expansion Significant institutional adoption and integration Strong use cases in DeFi, NFTs, and Web3 applications Technical Patterns vs. Long-term Fundamentals The current technical weakness represents a short-to-medium term market sentiment issue rather than a fundamental deterioration of the protocol's value proposition. However, in volatile crypto markets, technical factors often drive price action regardless of underlying fundamentals. Potential Downside Scenarios If the broader altcoin market experiences liquidity outflows, Solana's current technical position suggests several concerning possibilities: Amplified Downside: Given its relative weakness, Solana may experience disproportionate selling pressure Support Level Tests: The April low of $95 could come back into play as a critical support level Momentum Reversal: The three-drive pattern often precedes significant trend reversals Broader Market Context The cryptocurrency market remains highly correlated, meaning: Individual altcoin weakness can spread to the broader sector Liquidity flows tend to move in waves across the ecosystem Technical breakdowns in major assets like Solana can trigger broader risk-off sentiment For Current Holders Risk Management: Consider position sizing and stop-loss levels given technical warning signs Time Horizon: Distinguish between short-term technical concerns and long-term fundamental outlook Portfolio Diversification: Avoid over-concentration in assets showing relative weakness For Potential Investors Entry Strategy: Current levels may not represent optimal entry points given technical setup Patience Premium: Waiting for clearer technical signals or fundamental catalysts may be prudent Comparative Analysis: Consider allocation to altcoins showing stronger relative performance Solana's current technical picture presents a compelling case for caution despite the asset's strong fundamental positioning. The three-drive exhaustion pattern, combined with relative underperformance compared to peer altcoins, suggests that SOL may be vulnerable to significant downside if market conditions deteriorate. While this analysis doesn't diminish Solana's long-term value proposition or technological merits, it highlights the importance of technical analysis in timing market exposure. Investors should carefully weigh these technical warning signs against their investment timeline and risk tolerance. The cryptocurrency market's inherent volatility means that technical patterns like these often resolve quickly and decisively. Whether Solana can break out of this concerning setup or succumb to the suggested exhaustion will likely become clear in the coming weeks, making this a critical period for SOL holders and potential investors to monitor closely. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock Send To MSN: 0 This article Markets Are Stalling, Liquidity Is Tightening — And Solana Could Be The First Domino To Fall originally appeared on Sign in to access your portfolio
