Major cryptocurrencies gaining back losses, Bitcoin below $40,000

Fox Business Flash top headlines for February 11

Check out what’s clicking on FoxBusiness.com.

Cryptocurrency prices were regaining some of the losses from over the weekend, which saw Bitcoin dip below $40,000.

Early Monday, Bitcoin was trading at approximately $39,290 (+1.26%), while rivals Ethereum and Dogecoin were trading at $2,744 (+3.45%) and 13.96 cents (2.07%), respectively, Coindesk reported.

CURRENCY MARKETS NERVOUSLY EYE UKRAINE HEADLINES, TAKE HEART FROM POSSIBLE SUMMIT

Cyber thieves targeting crypto and traditional bank accounts stepped up their illegal activities last year, resulting in a significant increase in the number of reported SIM-card crimes.

The Federal Bureau of Investigation received more than 1,600 SIM-swap complaints in 2021, the agency said, resulting in estimated losses of as much as $68 million. In the three years prior, the FBI received a combined 320 complaints, totaling an estimated $12 million in losses, it said.

Cryptocurrency prices were regaining some of the losses from over the weekend which saw Bitcoin dip below $40,000. (iStock)

The jump is due in part to cyber thieves finding a way around the increased security of multifactor authentication protections that rely on a text message or code sent to a customer’s phone to confirm their identity.

In other cryptocurrency news, Coindesk Friday reported that Bitcoin fell 5.6% to a two-week low price of $39,661, while Ethereum dropped 6.3% to a two-week low price of $2,801.

Economists said Friday they were unsure how far cryptocurrencies could fall if there is a war between Russia and Ukraine.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

"A further escalation between Russia and Ukraine would keep risky assets under pressure," Capital Economics economists say. "But it is difficult to say how far they could fall."

Source: Read Full Article