Daily Times

The prices of major digital currencies remained mixed on Monday following the FBI’s warning against upcoming attacks on cryptocurrency exchanges and holders, with the market cap decreasing to $1.44 trillion (-0.3 percent) as of 1215 GMT.

The price of Bitcoin (BTC), the largest cryptocurrency, decreased to $33,610 after shedding 0.41 percent. With this decrease in price, the market capitalisation of the BTC has reached $630 billion. Likewise, ethereum (ETH) price shed 0.86 percent to reach $2,105. With this decrease in price, the market capitalisation of ETH has reached $245 billion.

However, XRP gained 1.53 percent to reach $0.637. The market capitalisation of XRP stands at $63.6 billion after this increase. On the other hand, Cardano (ADA) price reached $1.34 with a 0.13 percent increase in its price. Its market capitalisation has reached $43.1 billion with this increase.

However, Dogecoin (Doge) price depreciated by 0.28 percent to reach $0.213. With this decrease in price, the market capitalisation of Doge reached $27.6 billion.

The FBI issued a warning against upcoming attacks on cryptocurrency exchanges and holders last week. The FBI stated there are groups actively tracking vulnerabilities in these companies to take action. It explained that these groups are using a group of techniques to achieve these means. These techniques include SIM swapping, tech support fraud, and account stealing. The warning also detailed some recommendations for institutions to maintain their holdings safe: keeping watch on incoming mails and monitor accounts for unusual movements.

The FBI advised cryptocurrency holders to always use two-factor authentication and be aware of the information they share on social media. However, it is very difficult to prevent SIM swap attacks because they are relatively easy to complete. The attacker just needs to get hold of the telephone number of the potential victim. Then these attackers proceed in two different forms: the first one involves identity theft, with the attackers fooling tech reps into believing the affected person lost or damaged the SIM card. This prompts them to issue a new SIM card to the attacker.