KRYPTO: ABSOLUTE KATASTROPHE - HANDELT JETZT BEVOR ES ZU SPÄT IST!!

Summary

In this video, Natalie discusses the latest issues affecting the crypto market, starting with the biggest hack in history, where $1.4 billion in Ethereum was stolen by the Lazarus Group. The hack caused a sharp decline in ETH's value. In addition to this, concerns over a new virus strain discovered in China added to market volatility, further pulling back prices. Natalie advises viewers on steps to secure their assets, emphasizing the importance of hardware wallets and VPNs. Despite these challenges, she believes the market may eventually recover, and encourages viewers to stay cautious and informed.

Takeaways

• 😀 The cryptocurrency market is experiencing major turbulence, including the biggest hack in history.
• 😀 A large-scale hack resulted in the theft of 1.4 billion dollars worth of Ethereum, allegedly by the North Korean Lazarus Group.
• 😀 This hack is double the size of any previous attacks, causing a significant drop in Ethereum's price, nearly 8%.
• 😀 Despite the hack, Bybit is reportedly in a position to refund users and has enough funds to cover potential withdrawals.
• 😀 The incident highlights the importance of security, including using cold wallets and two-factor authentication to protect crypto assets.
• 😀 The phrase 'not your keys, not your coins' is emphasized, encouraging users to store their crypto in personal wallets instead of exchanges.
• 😀 The hack is compounded by other negative news, including a global market crash and fears of a new virus outbreak in China.
• 😀 Bitcoin and Ethereum's market behavior is influenced by these news events, with Ethereum experiencing a major pullback due to these uncertainties.
• 😀 The Lazarus Group's theft is not insignificant, as it now holds 0.4% of the total Ethereum supply, making them a major holder.
• 😀 Despite the challenges, Bybit's management of the situation is seen as positive, with normal withdrawal speeds reportedly resuming.
• 😀 The situation serves as a reminder for crypto traders to always prioritize security and stay vigilant against potential risks.

Q & A

What major event does Natalie discuss in the video that has impacted the cryptocurrency market?

Natalie discusses the largest hack in the history of the cryptocurrency market, where $1.4 billion worth of Ethereum (ETH) was stolen, believed to have been carried out by the North Korean Lazarus Group.

How did the hack affect the Ethereum market price?

The hack led to a sharp decline in Ethereum’s price, causing it to fall nearly 8% shortly after the news became public.

What advice does Natalie give to cryptocurrency holders regarding security?

Natalie advises crypto holders to store their funds in cold wallets instead of exchanges to minimize risk, and to enable two-factor authentication (2FA) to enhance security.

What is Natalie’s recommendation for crypto users in terms of using VPNs?

Natalie emphasizes the importance of using VPNs while trading or interacting with cryptocurrency markets to protect users from hacks, particularly phishing attacks. She personally uses NordVPN.

Why does Natalie suggest that crypto holders move their funds to cold wallets?

By using cold wallets, crypto holders ensure their funds are secure from potential exchange hacks, as exchanges can be vulnerable to cyberattacks, as demonstrated by the hack in the video.

What has Bybit done in response to the hack on its platform?

Bybit has managed the situation by ensuring that it has enough funds to reimburse all affected customers. They also reassured users that withdrawals are being processed normally, despite initial delays.

What was the broader impact on the market following the hack and other global news?

The hack, along with a market crash in traditional markets (nearly $1 trillion in losses) and new Coronavirus concerns from China, caused panic and further price declines in both Ethereum and Bitcoin.

What does Natalie think about the potential future effects of the hack on Ethereum's price?

Natalie believes that, while the hack was a significant setback, it could ultimately have a positive impact on ETH's price. This is because Bybit will likely need to buy back the stolen Ethereum, which could drive the price up in the long run.

What does Natalie suggest about the relationship between the Coronavirus news and market behavior?

Natalie highlights that while the new Coronavirus news is causing panic in the markets, it is reminiscent of past market corrections. These events sometimes present good buying opportunities in the future, as seen during the previous coronavirus outbreak.

What does Natalie mean by 'Not your keys, not your coins'?

This phrase means that if you don’t hold the private keys to your cryptocurrency, it’s not truly in your control. Natalie stresses the importance of holding crypto in private wallets, not on exchanges, to ensure security.