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BTC Loses 100-Day Average as XRP, Ether and Solana Hold Ground
GameFi Guides

BTC Loses 100-Day Average as XRP, Ether and Solana Hold Ground

by admin August 26, 2025



This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin’s (BTC) technical outlook has deteriorated over the past 24 hours, with prices dropping below a key moving average for the first time since April. This breakdown has left BTC at a disadvantage compared to major tokens such as Ether (ETH), XRP, and Solana SOL$188.41.

BTC loses 100-day SMA

BTC has dropped over 1% in the past 24 hours, hitting a low of $109,172 at one point.

In the process, the cryptocurrency has convincingly dipped below the 100-day simple moving average (SMA), a widely tracked momentum indicator and support/resistance line, for the first time since April 22.

Further, prices have crossed below the Ichimoku cloud, indicating a bearish shift in momentum.

The dual breakdown has bolstered the bearish technical outlook suggested by the recent violation of the upward-sloping trendline from the April lows and the consecutive negative prints on the longer-duration MACD histogram. Taken together, the recent pattern looks similar to the February breakdown that set the stage for a deeper sell-off to $75K.

BTC’s daily chart. (TradingView/CoinDesk)

The next key level to watch out for is $105,390, which is the 38.2% Fibonacci retracement of the April-July rally, followed by the 200-day SMA at $100,928.

The bulls need to overcome the lower high of $117,416 created on Aug. 22 to negate the bearish technical setup.

  • Resistance: $111,592, $117,416, $120,000
  • Support: $105,390, $100,928, $100,000.

XRP, ETH and SOL hold ground

While bitcoin has suffered the dual breakdown, XRP continues to trade above its 100-day SMA. However, prices are “stuck in the Ichimoku cloud,” whichmeans the token is trading within a zone of uncertainty and consolidation where neither bulls nor bears are willing to lead the price action. It suggests indecision and lack of a strong trend.

Meanwhile, ether and SOL continue to trade above their respective 100-day SMAs and Ichimoku clouds. Therefore, a potential risk-on could see both ETH and SOL outperform BTC and XRP.

ETH, SOL, XRP daily charts. (TradingView/CoinDesk)

Read more: Massive $14.6B Bitcoin and Ether Options Expiry Shows Bias for Bitcoin Protection



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August 26, 2025 0 comments
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Retired Australian Cop Loses $1.2M In A Crypto Scam In Thailand
Crypto Trends

Retired Australian Cop Loses $1.2M in a Crypto Scam in Thailand

by admin August 25, 2025



A retired Australian police officer with a 30-year career, lost nearly 40 million Thai baht (approximately $1.2 million) after falling victim to a cryptocurrency scam in Thailand. 

The scammer is a person named Alex, and he is a German national based in Phuket. After targeting Michael, Alex built a relationship with Reinecke over social media. Over the course of a year, Alex introduced him to various crypto investment opportunities during in-person meetings and eventually persuaded him to transfer his life savings. 

According to reports, Alex presented Reinecke with dashboards and charts that supposedly demonstrated the potential for 5%-10% monthly returns. However, after receiving the payment, Alex said that the website had crashed. Reinecke pressed Alex, who then revealed that he had misplaced his phone. Alex promptly ceased all communication with Michael. 

After realizing that he was probably scammed, Reinecke filed a formal report to the Mueang Udon Thani Police Station, supported by his Thai wife, Areerat Noonyat, and his lawyer, Kritsada Lohitdee, better known as Lawyer Nobi. Reinecke and his wife had saved all this money to purchase a home and establish a cafe. 

Online crypto scams on the rise 

The number of online crypto scams is on the rise globally. Last week, a scammer posed as a senior UK police officer and stole Bitcoin (BTC) worth approximately $2.8 million in Wales. Also, scammers have been targeting celebrities’ social media accounts for pump-and-dump scams. 

Last month, CertiK, a blockchain security firm noted that crypto investors lost more than $2.47 billion to hacks & scams in H1 2025, surpassing all of 2024. Ethereum was the most affected chain, with $1.5B lost across 164 incidents.

Also Read: Telegram CEO Durov Calls French Case ‘Absurd’ a Year After Arrest



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August 25, 2025 0 comments
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Crypto Trends

Bitcoin Investor Loses $91 Million to Social Engineering Scam: ZachXBT

by admin August 24, 2025



In brief

  • An investor lost 783 Bitcoin—$91 million worth a the time—to a social engineering scam, according to on-chain sleuth ZachXBT.
  • The threat actor allegedly used a coin-mixing service to try to cover their tracks.
  • ZachXBT alleged that three individuals used similar tactics to steal $243 million worth of Bitcoin a year ago.

A crypto investor lost 783 Bitcoin—valued at $91 million at the time of the attack—on Tuesday after falling victim to a social engineering scam, according to the pseudonymous blockchain sleuth ZachXBT.

The investigator said in a message on Telegram that the victim was approached by individuals impersonating customer support representatives for a hardware wallet manufacturer and a cryptocurrency exchange. The investigator did not identify the impersonated companies in question.

As of this writing, 783 Bitcoin is worth about $88 million, with the price of BTC falling in recent days.

The threat actor made several deposits to Wasabi Wallet, a privacy-focused Bitcoin “mixer” that suspended its services for U.S. users last year, as “the stolen funds began to peel off” across multiple digital wallets, according to ZachXBT.



Social engineering attacks can be lucrative in the cryptosphere. ZachXBT noted in the message that Tuesday’s loss took place exactly a year after he alleged three individuals stole 4,064 BTC, worth $243 million at the time, from a separate unnamed individual using similar tactics.

Two individuals were arrested in connection to the scheme in Florida a month later, after allegedly spending the funds on luxury cars, watches, and real estate. Targeting a creditor of collapsed crypto lender Genesis, they allegedly impersonated members of Google’s support team, convincing the victim to adjust their two-factor authentication settings.

On Aug 19, 2025 a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated.

The stolen funds began to peel off and deposits to Wasabi were made by the threat actor.

Coincidentally this theft… pic.twitter.com/gglShNo2UC

— ZachXBT (@zachxbt) August 21, 2025

Some social engineering scams are more complex than others. It can be as unsophisticated as “SIM swapping,” where criminals try to convince a mobile service provider to transfer a victim’s phone service to a device in their possession, according to an annual FBI report. 

Infamously, an SEC staff member fell victim to a SIM swapping attack in 2024, preceding the debut of spot Bitcoin exchange-traded funds in the U.S. The regulator’s X account prematurely said that the ETFs had been approved, and an Alambama later received a 14-month prison sentence for his role in facilitating the scheme.

The Bureau explicitly warned against social engineering scams in April of last year, warning that impersonating employees is also a common social engineering tactic, along with call forwarding to access victims’ phone numbers and phishing campaigns to collect sensitive information.

Job-seekers aren’t safe either. In February, cybersecurity website Bleeping Computer identified a social engineering scam in which the hacking group Crazy Evil created a fake crypto company to get applicants to download wallet-draining malware.

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August 24, 2025 0 comments
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Crypto Investor Loses $1.54 Million in Devastating Phishing Scam
Crypto Trends

Crypto Investor Loses $1.54 Million in Devastating Phishing Scam

by admin August 24, 2025


According to anti-fraud service Scam Sniffer, a cryptocurrency investor recently lost a total of $1.54 million after signing EIP-7702 phishing batch transactions.

Wrapped ETH (wstETH), wrapped BTC (cbBTC), as well as multiple types of other tokens, were stolen during the attack. 

Batch transactions, which make it possible to perform multiple operations within a single atomic transaction, were introduced with EIP-7702, which was part of the recent Pectra upgrade. 

Even though batch transactions provide a greater level of convenience for legitimate users, they also come with risks. Bad actors can exploit the new feature to trick their victims into singing away their assets. 

Such scams typically involve a bogus decentralized finance (DeFi) interface that closely resembles actual applications such as popular decentralized exchange Uniswap. 

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By approving multiple hidden transfers, a user allows a potential attacker to drain their funds in just mere seconds.  

Such malicious transactions tend to appear normal on the surface, and some users are not aware of potential risks due to the novelty of EIP-7702. 

$1 million worth of NFTs lost 

Earlier this week, Scam Sniffer also revealed that someone had lost a total of $1 million of non-fungible tokens (NFTS) as well as other tokens as after signing phishing batch transactions that were actually disguised as Uniswap swaps. 

An extremely similar incident also took place earlier this month.  

“We’ve spotted multiple victims with this pattern targeting EIP-7702 upgraded addresses,” Scam Sniffer said earlier this month, urging holders to remain vigilant. 



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August 24, 2025 0 comments
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Crypto
NFT Gaming

IRS Loses Top Crypto Enforcer After Only 90 Days on the Job

by admin August 24, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Trish Turner’s sudden exit from the IRS digital assets unit has sharpened attention on how the US will handle crypto tax enforcement going forward.

Based on reports, Turner stepped down roughly three months after taking the post, closing out a career that spanned more than 20 years at the agency.

What The Resignation Signals

According To LinkedIn posts and media reports, Turner said she looks forward to “continuing this mission from a new vantage point” and to building ties between industry and regulators.

Reports have disclosed she will join the crypto tax firm Crypto Tax Girl as tax director, a move confirmed by founder Laura Walter.

Bloomberg Tax first reported the hire. For industry players, the move is a reminder that public-sector know-how is in high demand in the private market.

Turnover At The Top

Turner follows two prior leaders who left the IRS crypto unit after roughly a year. Sulolit “Raj” Mukherjee and Seth Wilks both exited before Turner’s appointment in May.

That pattern raises questions about leadership continuity as Congress and oversight bodies push for clearer policy and improved enforcement.

On July 11, House committee leaders scheduled hearings aimed at creating a formal tax policy framework for digital assets. These hearings will test the IRS’s ability to keep up while staff and senior leaders change.

BTCUSD currently trading at $114,654. Chart: TradingView

Political And Oversight Pressure

Several recent developments have fed the urgency around crypto tax work. On July 4, US President Donald Trump signed a joint resolution that rolled back a Biden-era rule requiring some DeFi protocols to report transactions to the IRS.

On April 11, the US Treasury Inspector General for Tax Administration urged reforms after finding failures in how IRS criminal investigators handled digital-asset cases.

And in March, the Department of Government Efficiency, or D.O.G.E. proposed cutting the IRS workforce by 20%, a plan that would reshape capacity across the agency.

Industry Reaction And Next Steps

Economist Timothy Peterson greeted Turner’s move with levity, saying, “Trish Turner left the Dark Side to become a Crypto Jedi Knight.”

The quip points to a wider trend: regulators are being recruited by private firms that need help navigating new tax rules and growing compliance demands.

IRS Director Trish Turner left the Dark Side to become a Crypto Jedi Knight. Also to make 10X what the IRS paid her. Bio listed within hours. Don’t hate on her. One less of them. One more of us. pic.twitter.com/AgzjXWn1I9

— Timothy Peterson (@nsquaredvalue) August 22, 2025

For taxpayers and companies, that means better access to specialist advice. For the IRS, it may mean a steeper challenge in keeping institutional knowledge inside the agency.

What Comes After Turner

Based on reports, Turner did not list a start date in her announcement. The IRS has not publicly detailed a replacement plan.

With hearings planned and inspector general recommendations on the table, the agency’s work on digital assets is unlikely to slow.

How quickly leadership is restored, and whether the IRS can retain senior talent, will matter to lawmakers and to the businesses that must follow evolving tax rules.

Featured image from Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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August 24, 2025 0 comments
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Esports

CSGOEmpire owner Monarch loses $19M in the largest public poker game ever

by admin August 20, 2025



The biggest poker match ever streamed played out on YouTube as Counter-Strike mogul Ossi ‘Monarch’ Ketola battled poker legend Dan ‘Jungleman’ Cates in a marathon session that ended with Monarch dropping $19 million.

Broadcast live on Onyx Live’s YouTube channel from Merit Royal Diamond on August 19, the spectacle featured six nosebleed stakes matches with buy-ins climbing as high as €5 million. Thousands tuned in as the pair collided in what is now being called the largest public poker game in history.

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Cates struck first in a €2 million opener, but Monarch bounced back in the next two contests, including a €3 million buy-in where he steamrolled Jungleman with back-to-back coolers and some fearless bluffs.

Record pots and brutal swings

As the night escalated, so did the buy-ins. The two traded massive blows, including a €2.8 million pot where Monarch flopped quads against Cates’ full house.

The games continued, with Jungleman pulling off an impressive bluff with 5-3, making Monarch fold his pair of Aces.

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Not long after, they battled in a staggering €7.7 million hand, the largest pot of the entire session.

Despite Monarch holding the lead at that point, the tide soon turned. Jungleman locked in key pots down the stretch, winning four of the six matches and leaving with a €13 million profit, equal to around $15 million USD.

For Monarch, he ended up losing $19M throughout the marathon in one of the most expensive single-night defeats ever publicly witnessed in poker. Still, the CSGOEmpire founder isn’t exactly strapped for cash.

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“lol rip ~$19m in one sitting,” he commented on X following the stream. “Worth the content though.”

The Finnish entrepreneur has been running businesses since he was 14 and built his fortune in 2016 when he launched the Counter-Strike skin gambling site that exploded in popularity.

While Jungleman walked away with the glory, the night cemented both players in poker history and gave fans a rare glimpse at the highest stakes the game has ever seen.

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August 20, 2025 0 comments
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