Wall Street Rapper Faces Prison for Role in Massive Bitcoin Hack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 11 2024

BCH-1.105%

BTC+2.335%

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Heather Morgan's Involvement: Heather Morgan, known as the rapper "Razzlekhan," faces an 18-month prison sentence for her role in laundering Bitcoin from the 2016 Bitfinex hack, which involved her husband Ilya Lichtenstein, the mastermind behind the hack. Despite her cooperation with law enforcement, she knowingly participated in money laundering activities.
Legal Consequences and Broader Implications: While Morgan is set to receive a lighter sentence, Lichtenstein could face up to 20 years in prison. This case underscores the ongoing issues of crime within the cryptocurrency space, highlighting the need for better regulation and security measures in the industry.

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Technical Analysis for BCH

Technical Sentiment Analysis for Bitcoin Cash (BCH) As of , Bitcoin Cash (BCH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BCH 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, BCH 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 $-.

Bitcoin Cash (BCH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	305.587	364.293	442.387	501.093	579.187	637.893	715.987
Fibonacci	364.293	416.551	448.836	501.093	553.351	585.636	637.893

About BCH

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and larger block size. As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties.Bitcoin Cash was created as an alternative to the first and most valuable cryptocurrency — Bitcoin (BTC). In 2017, BCH developers modified the BTC code, releasing their software version and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash. Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the SegWit upgrade. Moreover, another hard fork, which divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.The scaling debate involved two sides: small block supporters opposed increasing block size as it could lead to blockchain centralization and vulnerability by making it harder to host full nodes. Large block supporters, however, advocated for a faster solution, concerned that rising transaction fees could hinder growth.

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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