DeFi News Daily Official TheBitTimes.com

Westport, Connecticut police assisted a crypto investor in reclaiming over $3 million in Bitcoin (BTC) after they fell victim to a high-profile financial scam. Westport police thwart BTC scam  In May, the Westport police reportedly initiated an investigation following a report from a victim, who had been persuaded to transfer funds from their retirement account to a Kraken crypto exchange wallet address January, as stated by Lt. Eric Woods in a news release.  Between January and March, the victim discovered that over $3 million worth of Bitcoin had been withdrawn and moved to cryptocurrency wallets beyond their control. Collaborating with the Connecticut State Police, Westport detectives diligently traced the transactions and successfully froze all accounts linked to the scam, as confirmed by Woods. As a result of these efforts, authorities successfully recovered over  $3 million, which has now been returned to the victim. Woods also clarified that the frozen accou...

The largest part of the cryptocurrency sector has begun to consolidate the gains with which it had opened the week, including Cardano (ADA), and data suggests using the dollar-cost averaging (DCA) strategy by investing $100 per week in 2023 would not have been profitable for this digital asset. As it happens, this method refers to spreading out one’s investments by purchasing assets in specific intervals and in roughly equal amounts of money, regardless of the asset’s price at the time. It is popular because it removes some of the psychological barriers of other investing strategies. DCA-ing ADA That said, DCA is not always ideal, as it sometimes fails to protect the investor from declining market prices or prevent them from buying during prolonged periods of bull markets when the asset is more expensive as opposed to shorter bearish periods, which can be avoided by timing the market. Its shortcomings are also evident in the case of Cardano, as purchasing $100 worth of ADA each w...