ezBtc & Founder David Smillie Embroiled in $13M Crypto Fraud

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 13 2024

HNT-3.6%

1000SATS-4.286%

ATM+4.009%

Should l Buy HNT?

Fraud Case Against ezBtc: David Smillie and his company ezBtc are accused of defrauding investors by misappropriating over 2,300 BTC and 600 ETH for personal use, resulting in losses exceeding 13 million Canadian dollars. The British Columbia Securities Commission has highlighted the deceitful practices that prevented customers from withdrawing their assets.
Canadian Crypto Market Overview: Canada, an early adopter of cryptocurrencies, is experiencing significant growth in its crypto market, with expected revenues reaching US$941.6 million by 2024 and a user base of approximately 13.36 million by 2025. The broader global crypto market is projected to reach $7.5 trillion by the end of 2025, despite recent fluctuations in Bitcoin and Ethereum prices.

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Technical Analysis for HNT

Technical Sentiment Analysis for Helium (HNT) As of , Helium (HNT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for HNT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, HNT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Helium (HNT) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.307	0.504	0.691	0.888	1.075	1.272	1.459
Fibonacci	0.504	0.651	0.741	0.888	1.035	1.125	1.272

About HNT

Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices.Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT.Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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