Bitcoin Takes a Hit as Missiles and Malware Plague Iran 💣
Welcome to another edition of your favorite weekly news round-up… From Coinigy
Remember when we all flexed about Bitcoin soaring above $100k? Apparently, the Middle East didn’t seem to care that we were having a moment, and this is our reminder that crypto doesn't exist in a vacuum. And boy, did the markets listen…..
Elsewhere, Norway's giving a "thanks, but no thanks" vibe on new crypto mining operations, while Coinbase is out there living its best European life with that shiny new MiCA license. And because when it rains, it pours, someone’s making it rain missiles and malware out there in Iran.
Here are the Highlights:
- Over $1.79 billion liquidated from crypto market as Bitcoin dipped below $100k after US bombed Iran
- Norway Plans to Temporarily Ban New Bitcoin & Crypto Mining Centers to Conserve Energy
- Coinbase Becomes First U.S. Exchange to Get EU-Wide Crypto License
- Iran-based crypto exchange hacked for $48M amid cyberattack claims by Israel-linked group
Over $1.79 billion liquidated from crypto market as Bitcoin dipped below $100k after US bombed Iran
The sudden escalation in Middle East tensions over the weekend triggered sharp moves across global markets, with Bitcoin plunging below the $100,000 mark for the first time since May. The drop followed a surprise U.S. airstrike on Iranian nuclear facilities and a retaliatory vote by Tehran’s parliament to authorize the closure of the Strait of Hormuz, a critical energy chokepoint. According to Coinglass data, more than $1.79 billion in crypto positions were liquidated since Friday, with nearly 70% of those on the long side. Bitcoin alone tumbled as much as 4.2% to hit $98,300 late Sunday before recovering about 3.1% in early Asia trading.
Norway Plans to Temporarily Ban New Bitcoin & Crypto Mining Centers to Conserve Energy
Today, the government of Norway announced its plans to introduce a temporary ban on establishing new Bitcoin and cryptocurrency mining data centres. The government concluded that it was better to redirect electricity to other industries and economic sectors and that it would be better for the national interest. “The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” said the Minister for Digitalization and Public Administration Karianne Tung.
Coinbase Becomes First U.S. Exchange to Get EU-Wide Crypto License
Coinbase has become the first U.S.-based crypto exchange to win a MiCA license, giving it legal access to offer services across the European Union. The license was issued by Luxembourg’s financial regulator and opens the door to operating in all 27 EU nations, plus Iceland, Liechtenstein, and Norway. As part of the move, Coinbase will shift its EU base of operations from Ireland to Luxembourg. According to Coinbase’s European leadership, Luxembourg stood out for its established blockchain laws and for being a regulator more familiar with the crypto space.
Iran-based crypto exchange hacked for $48M amid cyberattack claims by Israel-linked group
Iranian crypto exchange Nobitex has suffered a major security breach, resulting in the loss of over $48 million. The company confirmed the attack via an X post on June 18, revealing that the incident targeted its hot wallets. It stated: “This morning our technical team detected signs of unauthorized access to a portion of our reporting infrastructure and hot wallet. Immediately upon detection, all access was suspended, and our internal security teams are closely investigating the extent of the incident.”
Other Highlights Worth Mentioning
Texas governor signs bill adding Bitcoin to official reserves - Cointelegraph
France Shocked by Another Crypto Kidnapping Case Targeting Ledger User - BeInCrypto
Telegram Founder Pavel Durov Granted Temporary Approval to Travel from France - TheShibDaily
North Korean Hackers Are Targeting Top Crypto Firms With Malware Hidden in Job Applications - Coindesk
COINIGY MEME OF THE WEEK
COINIGY FACT OF THE DAY
23 June 2013 - DEA Lists 11.02 BTC as Seized Asset
On June 23, 2013, the U.S. Drug Enforcement Administration (DEA) publicly listed 11.02 BTC as a seized asset in a Department of Justice seizure notice—the first time any government agency had officially seized Bitcoin. This landmark case marked a significant moment in cryptocurrency regulation and law enforcement’s growing role in digital-asset oversight