The latest upsurge in crypto liquidations, which amounted to $650 million, has cast a spotlight on the risky nature of leveraged trading as Bitcoin and Ethereum hit critical overbought levels. In other news, Kraken recently made headlines with a notable security episode where their quick-acting team blocked a fraud attempt involving a rubber mask and a bogus ID.
In parallel, Plus Wallet is breaking new ground in crypto security with its state-of-the-art encryption, biometric authentication, and private key storage solely on user devices. Its clients are capitalizing on its multichain capabilities and its rewarding program, managing their assets smoothly and boosting their earnings through regular trading.
$650M in Crypto Liquidations as BTC & ETH Brace for Potential Pullback
Crypto liquidations rocketed to $650 million as Bitcoin and Ethereum entered overbought territories, prompting increased caution in an unpredictable market. Data from Coinglass points to a 70% escalation in liquidations, comprising $366 million in longs and $284 million in shorts, primarily on Binance. The surge to a record $81,858 for Bitcoin set off $122.1 million in liquidations, while Ethereum’s rise triggered $91.2 million.
This spike in market volatility underscores the perils of leveraged trading, particularly in a market prone to abrupt drops. Traders equipped with a reliable crypto wallet like Plus Wallet can navigate these turbulences more safely.
Kraken Update: Failed Fraud Attempt Involving Rubber Mask & Fake ID
Kraken recently foiled an unusual fraud attempt when a scammer, donning a rubber Halloween mask, tried to access a user’s account. The security team at Kraken acted swiftly when they noticed the fraudster couldn’t answer basic security queries, leading to a video call that further confirmed the suspicions.
Nick Percoco, Chief Security Officer at Kraken, stated that their stringent security measures immediately identified and stopped the fraud attempt, a feat not always guaranteed at other exchanges. However, some critics suggest that Kraken’s recounting of the event might overemphasize their success, arguing that such overt scams would likely be unsuccessful on any secure platform.
Plus Wallet Elevates Standards in Crypto Security
Plus Wallet is all about security from the ground up. It packs advanced encryption along with fingerprint and Face ID to make sure that only you can get into your wallet.
It even keeps your private keys right on your device, which means no one else, not even Plus Wallet, can peek at your assets. This strong focus on keeping things locked tight puts Plus Wallet right up there with the safest mobile crypto wallets out there.
But there’s more to Plus Wallet than just tight security. It supports a whole range of major blockchains like BTC, ETH, BNB, and SOL, giving you the ability to manage different cryptocurrencies effortlessly in one place. This cuts down on the hassle of hopping between different exchanges and keeps everything straightforward and in one spot.
Plus Wallet doesn’t stop there—it actually rewards you with USDT every time you swap cryptos within its platform. Thanks to its Swap to Earn and Refer to Earn programs, what you do regularly, like trading, suddenly becomes a way to boost your assets even further. By marrying rock-solid security, the ease of handling multiple chains, and a rewards system, Plus Wallet creates an all-in-one solution that really caters to all your crypto management needs.
Summing Up
The recent $650 million swell in crypto liquidations highlights the volatile and risky trading environment, especially for those leveraging positions in a market that’s heating up.
Moreover, Kraken’s rapid response to an odd fraud attempt involving a rubber mask and fake ID emphasizes the growing need for vigilant security measures in managing cryptocurrencies as the nature of scams diversifies.
Against this backdrop, Plus Wallet provides a robust solution by merging advanced security technologies—such as encryption, biometric authentication, and local key storage—with a system driven by rewards.
Its support for multiple major cryptocurrencies allows seamless management of assets, empowering Plus Wallet users to secure and expand their holdings efficiently with each transaction.
Explore Plus Wallet:
Website: https://pluswallet.app/
Download: https://onelink.to/pluswalletapp
Twitter: https://x.com/pluswalletapp
Instagram: https://www.instagram.com/pluswallet.app/
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