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Daily Dose: Bears Fight Back

DATE POSTED:June 30, 2020
 Bears Fight Back

Bitcoin managed to get a bounce around 8,800 - 9,000 level and is looking to test the 10 EMA and 50 MA. In the daily, key levels remain with key resistance still around 10,000 and key support around 8,600 - 8,500. The current price action shows that the immediate resistance levels are around 9,500 - 9,700 (50 MA area). If price gets smashed at the 50 MA area, we may see a potential lower high and a possible confirmation of the bears taking control. Otherwise, if price successfully breaks above the immediate resistance level, the range remains and price could possibly go for a retest of the key resistance level.

Global market cap is at $259B, while BTC's market cap is at $168B.

California University Pays Million-Dollar Crypto RansomThe University of California at San Francisco has paid a million-dollar ransom following unsuccessful negotiations with a ransomware hacker group Bears Fight BackFelipe ErazoCointelegraph Bears Fight Back

The University of California at San Francisco (UCSF) School of Medicine reportedly paid a $1.14 million ransom in bitcoin after unsuccessful negotiations with a ransomware hacker group. The ransomware attack was made on June 1, with UCSF IT staff detecting the incident that left several servers inaccessible, and having ransomware deployed successfully. After unsuccessfully trying to negotiate the ransom payment from $1.5 million down to $780,000, UCSF staff eventually offered up 116.4 BTC, worth approximately $1.14 million to the hackers, which was accepted.

A statement published by the university said "The data that was encrypted is important to some of the academic work we pursue as a university serving the public good. [...] We, therefore, made the difficult decision to pay some portion of the ransom, approximately $1.14 million, to the individuals behind the malware attack in exchange for a tool to unlock the encrypted data and the return of the data they obtained."

Russia's blockchain-based voting system for constitutional amendments was reportedly attacked via an election observer's node over the weekend. According to a government of Moscow representative, the attack did not cause a system malfunction, meaning all e-votes will be successfully recorded on the blockchain, and that cybersecurity experts were already working to restore access to the node. The Bitfury-powered voting system has experienced trouble before, with several accounts saying that abnormal results were produced in certain regions, and some individuals reporting that they were able to vote multiple times due to the system's poor compatibility with the vote's offline part.

Soramitsu Starts Testing ‘White Tiger’ Digital Currency in Japan

Japanese blockchain company Soramitsu announced that it will begin testing its new local digital currency called "White Tiger", a digital currency using the company's native Hyperledger Iroha blockchain. The testing will start on July 1 at cafeterias and shops at the University of Aizu in Fukushima Prefecture. The initiative is part of a "smart city" campaign by public officials and private entities in the City of Aizu-Wakamatsu and participating stores will be able to accept payments through smartphone apps or charge cards.

Soramitsu is a Tokyo-based company and is also one of the blockchain startups behind the development of a central bank digital currency in Cambodia.

This Daily Dose was brought to you by SCI News Channel.