SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
According to the victim's mother, Delia Berry, the alleged suspect was close with the family at one point.
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In this articleWhat Does This Price Drop Mean for Crypto Investors?What If You Haven’t Yet Invested In Crypto?What’s Behind the Latest Bitcoin Drop?
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SafeMoon price struggles to establish a clear floor after pulling back nearly 50% from the all-time highs it established in late October. Last Friday showed some evidence that a continuation move higher may occur, but that quickly fizzled out.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
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Bitcoin price has spent roughly two weeks consolidating around a psychological barrier and shows no affinity to move higher or lower. This indecision indicates reduced volatility and that an explosive move is on its way. Read full analysis Pulse Bomber Launched with a Low Market Cap and Big Future Potential Bybit - Could remittances be the next major use-case for cryptocurrencies?
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
However, cryptocurrency is unique as it is typically decentralised so there is no control from government interference. Cryptocurrency uses something called a blockchain.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
Bitcoin is the world’s most widely used cryptocurrency and is generally credited with bringing the movement into the mainstream.
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Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
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It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.