The Shib Crypto Recap: Monday

In today’s recap, we’ll explore the latest in crypto as we kick off the week. This Monday has brought with it reports of rising crypto-related crimes and the introduction of new regulatory enforcement strategies. We’ll also dive into Vitalik Buterin’s recent insights shared in a blog post, as well as Google’s controversial decision to remove live price charts from its interface. Additionally, the James Howells case continues to unveil fascinating aspects worth discussing in the crypto narrative.

Western Europe Faces Spike in Violent Home Invasions and High-Stakes Robberies

There has been a significant increase in violent home invasions aimed at cryptocurrency holders in Western Europe. Blockchain investigator ZachXBT reported receiving numerous messages from victims, highlighting a trend of criminals using extreme measures to steal digital assets. In one case, a victim lost $4.3 million in cryptocurrency during a June 2024 home invasion, with attackers posing as delivery personnel and armed with machetes. They likely obtained the victim’s information through a data breach.

Another significant case involved Nick Drakon, ex-CEO of Revelo Intel, who was threatened at gunpoint to transfer Bitcoin while his family was at risk. Data from GitHub shows at least 15 documented offline crypto robberies globally in the past year, with Western Europe being heavily impacted.

South Africa Mandates Crypto Disclosure to Curb Tax Evasion

In a decisive move against tax evasion, the South African Revenue Service (SARS) has launched an extensive investigation into cryptocurrency investments as over 5.8 million South Africans engage with digital assets. By officially recognizing cryptocurrencies such as Bitcoin and Ethereum as reportable assets, SARS mandates all citizens involved with crypto to declare their holdings on tax returns. There will be severe penalties for those who fail to comply.

Also, in a bid to enhance oversight, SARS is using advanced Artificial Intelligence (AI) to monitor crypto transactions in real-time. This allows the tax collecting authority to effectively identify any unreported activities regardless of where they occur.

Vitalik Buterin Outlines Key Improvements for a More Efficient PoS Network

In his latest blog post, Vitalik Buterin has addressed several aspects that require improvement in Ethereum’s Proof of Stake (PoS) network. In particular, he called attention to the challenges of staking accessibility and block finalization speed. He highlighted the high staking threshold of 32 ETH, arguing for a reduction to 1 ETH to promote solo staking and greater decentralization.

Furthermore, he expressed concern over the current block finalization time of around 15 minutes. He suggested reducing it to about 12 seconds. Buterin proposed three solutions to tackle these issues, namely ZK-SNARKs, orbit committees, and a two-tiered staking system. He also outlined four potential trajectories for Ethereum’s future evolution: maintaining its current state, implementing Orbit SSF, adopting brute-force SSF, or establishing a two-tier staking framework.

Bitcoin and Ethereum Price Charts Disappear from Google Searches

Google has taken down live price charts for Bitcoin and cryptocurrencies from its search results. Users no longer see charts when searching for “Bitcoin price” or “Ethereum price.” While stock and index charts still show up, cryptocurrency prices can now only be checked through other sources. Google Finance provides some information, though the latest update dates back to October 7, raising questions about the reliability of that data. Google has not offered an explanation for this change, leaving users uncertain if it will last.

A £495 Million Quest: IT Engineer Sues Newport City Council to Reclaim Lost Bitcoin

James Howells, an IT engineer from Newport, is in a legal dispute with his hometown council, hoping to recover Bitcoin valued at nearly £495 million (about $647 million). The key to this wealth is locked away in a lost hard drive that contained the private keys to 8,000 Bitcoins. Eleven years ago, a mix-up caused the drive to be thrown out by his partner at the time. It ended up at a recycling center.

After years of challenges, he plans to sue Newport City Council, claiming he has faced numerous obstacles from environmental issues and bureaucratic barriers. His legal team has started crowdfunding for a private excavation, stating that this case is fundamentally about individual rights. They believe the Bitcoin community should support him in reclaiming his lost assets.

Shiba Inu & Shibarium: A Bullish Future With Triple-Digit Predictions and Strategic Integrations

In Shiba Inu news, a new prediction suggests that SHIB could increase by triple digits. Analyst Javon Marks noted a potential rise of around 342%. His analysis on social media highlighted a “falling wedge” pattern on SHIB’s price chart. This pattern is typically seen as bullish, and SHIB has been trading within these wedge boundaries.

Recently, Shiba Inu appeared on McDonald’s Japan’s chocolate pie packaging, reaching a vast audience without an official partnership. DeLorean Labs showcased SHIB in a nostalgic commercial featuring their iconic car. The team also partnered with Mass to serve as the financial layer of the Shiba Nation State. Additionally, the launch of Shiboshi Rush by Shib Games aims to engage the community and boost SHIB token interest, while LEASH, another Shib ecosystem token, was listed on the Triv Exchange.

Shibarium isn’t slacking either. Zypto, a comprehensive crypto platform bridging DeFi and CeFi, has announced its focus on integrating Shibarium, the layer-2 scaling solution for Shiba Inu. It stated that the next chains it will integrate include Shibarium. This integration is expected to drive significant growth for the Shib ecosystem, with Zypto making it easier for users to access the Shibarium network.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

Post Views: 116