The sharp increase in crypto liquidations, totaling $650 million, underscores the risks of leveraged trading as Bitcoin and Ethereum hit overbought territories. Meanwhile, recent reports from Kraken detail a thwarted fraud attempt involving a rubber mask and a fake ID by their alert security team.
Concurrently, Plus Wallet is redefining crypto security with robust encryption, biometric checks, and private key storage on users’ devices. Its users benefit significantly from its multichain support and rewards program, which allows for seamless asset management and earning extra through regular trading activities.
$650M in Crypto Liquidations as BTC & ETH Approach Possible Retracement
The spike in crypto liquidations to $650 million with Bitcoin and Ethereum in overbought conditions signals increased caution in a fluctuating market. According to Coinglass, liquidations surged by 70%, with $366 million in longs and $284 million in shorts, predominantly on Binance. Bitcoin’s peak at $81,858 led to $122.1 million in liquidations, and Ethereum’s climb resulted in $91.2 million.
This elevated market fluctuation underlines the dangers of leveraged trades, particularly in a market prone to rapid shifts. Traders equipped with a secure crypto wallet can navigate these uncertainties more safely.
Kraken Update: Foiled Fraud Attempt with Rubber Mask & Fake ID
A recent incident at Kraken involved a fraudster attempting to infiltrate an account using a rubber Halloween mask, quickly foiled by Kraken’s vigilant security personnel. The support team grew suspicious after the individual botched several basic security questions, prompting a verification video call.
Kraken’s Chief Security Officer Nick Percoco pointed out that their stringent security measures promptly identified the fraud. Nevertheless, some critics suggest that Kraken might be overstating its prowess, arguing that such an overt scam would likely be unsuccessful on any robust platform.
Plus Wallet Enhances Crypto Security Standards
Plus Wallet is engineered for optimal security, integrating sophisticated encryption, fingerprint, and Face ID technologies that ensure exclusive access to the wallet’s owner. By storing private keys directly on the device, Plus Wallet guarantees that only you can reach your digital assets, enhancing both privacy and control. This dedication to robust security ranks Plus Wallet as one of the top mobile crypto wallets in terms of safety.
Beyond just security, Plus Wallet excels in versatility with its multichain support, accommodating a vast array of major blockchains such as BTC, ETH, BNB, and SOL. This functionality permits you to handle diverse cryptocurrencies smoothly from one unified application, simplifying your trading experience by removing the dependence on multiple platforms.
Additionally, Plus Wallet rewards every transaction made within its ecosystem with USDT, transforming everyday transactions into chances for asset growth. With its seamless integration of security features, extensive blockchain support, and rewarding programs, Plus Wallet stands out as a holistic and enticing choice for managing your cryptocurrency portfolio.
Concluding Thoughts
The recent surge in crypto liquidations, amounting to $650 million, highlights the precariousness and increased risk in the market, particularly for leveraged positions in a surging market.
Likewise, Kraken’s quick interception of an unusual fraud attempt with a rubber mask and fake ID underscores the growing need for vigilant security in managing cryptocurrencies as scam tactics evolve.
In this environment, Plus Wallet offers an effective solution by integrating superior security measures—like encryption, biometric authentication, and on-device key storage—with a rewarding scheme.
Its broad multichain support facilitates effortless management of various major cryptocurrencies, enabling Plus Wallet users to safeguard and expand their assets securely through each transaction.
Explore Plus Wallet:
Website: https://pluswallet.app/
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