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Closure Announcement by Inferno Drainer



Amid the artistry of crafting content, three vital elements emerge: “perplexity,” “burstiness,” and “predictability.” Perplexity, a gauge of textual intricacy, dances with the ebb and flow of intricate expressions. On the flip side, burstiness orchestrates the symphony of sentence diversity, intertwining elaborate compositions with succinct notes. Lastly, predictability measures the likelihood of unraveling the forthcoming sentence. The human touch often favors a dynamic burstiness, embellishing prose with both lengthy, intricate sentences and succinct snippets. In contrast, AI-generated sentences tend towards uniformity.

Hence, as we embark on the creation of the ensuing content, I implore you to infuse it with a rich tapestry of perplexity and burstiness while keeping predictability at bay. The linguistic canvas must unfold in the realm of English alone.

Now, let’s reimagine the provided text:

“In the annals of our existence as the preeminent drainer, let the narrative echo: ‘We hope to linger in memory as unparalleled,’” scribed the purveyor of deceit in the guise of a service, the wallet drainer named Inferno Drainer.

This crypto realm luminary, Inferno Drainer, a sought-after mercenary for emptying digital coffers, proclaims its final curtain call after aiding phishing marauders in pilfering a staggering $70 million in crypto wealth this fiscal cycle.

A Telegram missive on Nov. 26 carried the swan song, declaring the team’s decision to bid adieu. Paradoxically, the tools and scaffolding essential for the wallet-draining enterprise won’t vanish; they persist, facilitating users in a seamless transition to alternative services.

“With heartfelt gratitude, we acknowledge the extended journey shared with each of you. Alas, nothing endures perpetually.”

Expressions of gratitude continued: “A colossal thank you to all who collaborated with us. May our legacy endure as the epitome of unparalleled drainage, aiding you in the pursuit of affluence.”

Inferno Drainer ascended to eminence in early 2023, its prominence surging post the demise of the renowned Monkey Drainer tool. Like its predecessors, Inferno offered its crypto drain software, claiming a 20% share of the spoils pilfered by users.

Since February, Inferno Drainer has filched almost $70 million from a vast pool of over 100,000 victims, as per Scam Sniffer, the Web3 anti-scam platform. Nonetheless, the Inferno Drainer team hints that the actual figure might surpass $80 million.

In a parting gesture, the Inferno Drainer team erased the affiliate Telegram account “mr_inferno_drainer,” cautioning users against placing trust in future impostors carrying their mantle.

Blockchain security stalwart CertiK, sharing insights with Cointelegraph, classified Inferno Drainer as “among the most injurious phishing kits witnessed within the community.”

While the curtain falls on Inferno Drainer, CertiK notes the persistence of numerous active providers, with Pink Drainer and Angel Drainer standing as rivals. The latter, making waves with a Nov. 25 update, aids users in depleting wallets across diverse blockchains.

Monkey Drainer, a predecessor in crypto drainage grandeur, took its bow in March, asserting the need to transition toward loftier pursuits.

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Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation




In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

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Cryptocurrency: A Scapegoat for Foreign Policy Failures?




Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

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Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution




Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

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