Sygnum adds off-exchange crypto custody to Deribit with Fireblocks tech

A new variation on crypto crime has occurred as three victims were robbed in a mall parking lot in Bangkok. They were preparing to exchange $100,000 in crypto assets when five assailants attacked them.

The criminals may have been involved in setting up the crypto deal, as happened in a similar incident in Phuket last November. Thai authorities are searching for the perpetrators.

Bangkok Crypto Deal Goes South

Crypto crimes are at an epidemic level right now, and that can manifest in some extremely bizarre ways. This recent story from Bangkok is a prime example, as crypto was never directly involved.

Instead, the victims pooled together 3.4 million baht (worth about $100,000) to do an in-person transaction, which evidently went south:

Unfortunately, there is a severe lack of other relevant details. Local authorities are looking for the attackers and have plenty of information about the getaway car. However, it may have been stolen before the theft took place.

Further, because this Bangkok theft didn’t involve crypto, there’s no way to monitor blockchain data. The perpetrators only need to launder a bag of cash, which might be incredibly easy.

Thailand has been home to another recent crypto theft, although this one took place far away from Bangkok. In November 2024, a Ukrainian national was robbed in Phuket, an island near the southernmost tip of the country.

Four men kidnapped and extorted him, demanding 250,000 in USDT. After they left, the victim escaped and informed the police.

One of these four robbers was a past associate of the victim, having previously bought USDT from him on several occasions. Hopefully, this 2024 incident may also provide a critical link to today’s Bangkok crypto theft.

Specifically, it seems very possible that the alleged crypto vendors and the robbers are in league or even the exact same people.

Crypto ATMs are not widespread in Thailand, so these Bangkok men needed some other intermediary to exchange cash for tokens.

Whoever offered to make the trade would, therefore, have more than enough information to stage a robbery. This theory seems more likely than the assailants randomly encountering men carrying a sack full of cash in public.

More Recent Crypto Crime Stories

BeInCrypto has been hard at work covering this crypto crime wave, including violent and nonviolent incidents:

• France’s crypto kidnapping spree continues in June, shocking the nation. Police arrested several ringleaders in Morocco this month, hoping for an end to the attacks, but remaining operatives or copycats continue the horrific attacks.
• North Korean hackers attack both sides of the hiring process, targeting crypto industry job seekers and posing as fake candidates. Pepe creator Matt Furie lost over $300,000 after hiring a hacker for an IT role, and Favrr lost $680,000 after appointing a North Korean infiltrator as its CTO.
• Shockingly, low-quality crimes are seeing a lot of success in the US thanks to social engineering. Multiple criminals defrauded users out of millions, yet proved incredibly easy for law enforcement to track. One thief stole $4 million and lost almost all of it to a gambling addiction.
• Despite all these crimes, authorities are on the hunt, as cooperation from 15 separate nations brought down an international fraud ring. The group stole $540 million from victims around the globe.

The post Armed Robbers Steal $100,000 in a Mall Parking Lot | Crypto Horror Story appeared first on BeInCrypto.

Bitcoin (BTC) is facing a mix of bullish signals and short-term uncertainty. Moody’s recent downgrade of the US credit rating has heightened long-term bullish sentiment around BTC, reinforcing its role as a hedge against rising debt and fiscal uncertainty.

Meanwhile, on-chain data shows a declining supply of Bitcoin on exchanges, suggesting investors are leaning toward holding rather than selling. Despite these bullish fundamentals, BTC remains in a short-term consolidation phase, with price action needing fresh momentum to break higher.

Moody’s Downgrade Ends US Century-Long Perfect Credit Rating Streak

Moody’s has downgraded the US credit rating from Aaa to Aa1, removing the country’s last perfect score among major credit agencies.

It’s the first time in over a century that the US lacks a top-tier rating from all three, following downgrades by S&P in 2011 and Fitch in 2023. Rising deficits, mounting interest costs, and the absence of credible fiscal reforms drove the decision.

Markets reacted quickly—Treasury yields climbed, and equity futures slipped. The White House dismissed the downgrade as politically driven, with lawmakers still negotiating a $3.8 trillion tax and spending package.

Moody’s also warned that extending Trump-era tax cuts could deepen deficits, pushing them toward 9% of GDP by 2035—a scenario that may strengthen the appeal of crypto, especially Bitcoin, as a hedge against long-term fiscal instability.

Bitcoin Consolidates: Falling Exchange Supply Meets Ichimoku Indecision

After briefly rising from 1.42 million to 1.43 million between May 2 and May 7, Bitcoin’s supply on exchanges is falling once again.

This short uptick followed a more significant decline between April 17 and May 2, when the exchange supply dropped from 1.47 million to 1.42 million. Now, the metric has resumed its downward trend, currently sitting at 1.41 million BTC.

The supply of Bitcoin on exchanges is a key market indicator. When more BTC is held on exchanges, it often signals potential selling pressure, which can be bearish.

Conversely, a decline in exchange balances suggests holders are moving their coins to cold storage, reducing near-term sell pressure—a bullish signal. The current drop reinforces the idea that investors may be preparing to hold rather than sell.

The Ichimoku Cloud chart for Bitcoin shows a period of consolidation with neutral-to-slightly-bearish signals. The price is currently sitting right around the flat Kijun-sen (red line), indicating a lack of strong momentum in either direction.

The Tenkan-sen (blue line) is also flat and closely tracking the price, reinforcing this sideways movement and short-term indecision.

The Senkou Span A and B lines (which form the green cloud) are also relatively flat, suggesting equilibrium in the market. The price is moving near the top edge of the cloud, which typically acts as support. However, since the cloud is not expanding and has a flat structure, there is no strong trend confirmation at the moment.

The Chikou Span (green lagging line) is slightly above the price candles, hinting at mild bullish bias, but overall, the chart signals indecision and the need for a breakout to confirm the next direction.

Moody’s Downgrade Strengthens Bitcoin’s Long-Term Bull Case Amid Short-Term Consolidation

The U.S. losing its last perfect credit rating after Moody’s downgrade could be a major long-term catalyst for Bitcoin.

While it may not trigger immediate price action, the downgrade reinforces the narrative of growing fiscal instability and debt concerns—conditions that strengthen Bitcoin’s appeal as a decentralized, hard-capped asset.

In the medium to long term, more investors may turn to BTC as a hedge against sovereign risk and weakening trust in traditional financial systems.

In the short term, however, Bitcoin price remains in a consolidation phase after breaking above $100,000. Its EMA lines are still bullish, with shorter-term averages above longer-term ones, but they are flattening out.

For bullish momentum to resume, BTC would need to push past the $105,755 resistance.

On the downside, holding above the $100,694 support is crucial—losing it could open the door for declines toward $98,002 and potentially $93,422.

The post US Loses Perfect Credit Rating – How Will It Impact Bitcoin Price?  appeared first on BeInCrypto.

Bitcoin (BTC) recently soared to a new all-time high (ATH), sparking a fresh wave of macro debate across social media. Gold purists and crypto advocates are once again locking horns.

The pioneer crypto’s role in mainstream finance continues to grow, threatening gold’s status as a safe-haven asset.

Bitcoin’s New All-Time High Has Gold Maxis Coping, Not Converting

The debate followed a snide remark from gold enthusiast Debra Robinson, who highlighted Bitcoin’s foray past the $118,000 threshold.

While intended as a dig at Bitcoin’s perceived artificiality, the comment drew sharp rebuttals from some of crypto’s most respected macro thinkers, with investor Preston Pysh quickly firing back.

“Imagine paying for man-made numbers on GLD where you can’t even audit whether the numbers are real or not,” wrote the investor.

Macro strategist Lyn Alden offered a more tempered take, suggesting gold holders adopt a hybrid strategy.

“Precious metal enthusiasts could buy a Bitcoin position of like 5% of their metals position,” Alden wrote.

According to Alden, this would hedge against the risk of Bitcoin gradually taking market share. The macro strategist, who has long emphasized risk-balanced portfolios, also responded to a growing chorus of skeptics questioning the logic of diversifying into Bitcoin.

Meanwhile, other users argue that most gold holders already own Bitcoin, but not vice versa. Alden ascribes the strong pivot among Bitcoin holders to focus on BTC to its massive outperformance relative to gold.

“Given bitcoin’s massive outperformance vs gold, it’s harder to convince someone to dilute/diversify in that direction,” she added.

As the pioneer crypto continues to outpace traditional hedges like gold, the philosophical divide between “savers” and “speculators” seems to widen.

Peter Spina, a precious metal maximalist, says Bitcoin proponents promote casino-like risk over the conservative ethos of precious metals.

However, crypto observers see this resistance as part of a deeper emotional hurdle, with Bloomberg ETF (exchange-traded fund) analyst Eric Balchunas calling for a shift in mentality.

“Pride is a hell of a drug. You see it a lot on here—people just unable to take the L sometimes,” he chimed.

Balchunas’ comment resonated with many in the Bitcoin community who view continued gold maximalism as increasingly irrational in the face of market performance.

Bitcoin is up nearly 140% year-to-date, while gold is up just over 40%.

While some see room for both assets to coexist, online tone suggests the competition remains fierce. As the Bitcoin narrative matures, its price continues to climb into uncharted territory.

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