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Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late

Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late

Economic Times2 days ago
Bitcoin achieved a new record high of $121,000. Robert Kiyosaki, the author of 'Rich Dad Poor Dad', shared his insights. He advised new investors to start small with crypto investments. Kiyosaki also mentioned his recent Bitcoin purchase. He is waiting for economic clarity before further investments. He cautioned against greed.
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Bitcoin broke through $121,000 on July 14, a new all-time high, which led personal finance writer Robert Kiyosaki to highlight that it's great news for Bitcoin investors but also a wake-up call for those who do not own the cryptocurrency yet, as per a report.Kiyosaki, author of the best-selling book 'Rich Dad Poor Dad,' took to post on social media X with a message not only for crypto veterans but also for those who are still sitting on the sidelines, his tone was triumphant but also warning, according to The Street.He wrote in an X post that, "Great news for those who already have some Bitcoin. Bad news for who… for whatever reason… never 'pulled the trigger'. They own nothing. As warned in previous X…Pigs get fat…. Hogs get slaughtered," as quoted in the report.ALSO READ: Air taxi revolution? Joby Aviation doubles output, investors react fast, stock skyrockets 7% Even though he disclosed he had just bought another Bitcoin, Kiyosaki indicated that he is waiting on more purchases as the direction of the overall economy becomes more apparent, as reported by The Street.Kiyosaki cautioned against being greedy but urged newcomers to get into crypto, even with just a small percentage of a coin, according to the report. He warned that, "As tempting as Bitcoin going to $200k to $1 Million is….I do want to be a HOG and get slaughtered….If you have not begun acquiring BITCOIN….I suggest starting very small… starting with a Satoshi," as quoted by The Street in its report. Satoshi refers to the smallest denomination of Bitcoin, as per the report.He also went on to speculate on the actions of billionaire investor Warren Buffett, observing that Buffett's $350 billion pile means that he has been waiting for a crash to pick up some quality assets, as reported by The Street.ALSO READ: Nio crashes 21% in 2025 — what's dragging down the EV darling? Here's what you need to know The author ended his social media post with a harsh warning but also with a glimmer of hope, saying, "Millions are about to become poorer," but he also offered hope, saying those who are smart, patient, and alert could emerge much richer, as reported by The Street.While, even previously, Kiyosaki has warned that if Bitcoin ultimately rises to $1 million per coin, many people will regret never having bought at the current price, and if all they could have purchased was a single satoshi, the feeling would be the same: "You will be saying, 'I wish I had bought more,'" as quoteed in the report.Not according to Kiyosaki. He suggests it's not too late, and recommends starting with a very small amount, even just a satoshi.He's worried about being greedy during volatile times and is waiting for more clarity in the economy before buying more, as per The Street report.
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‘Stop saving Fake $': Rich Dad author Robert Kiyosaki warns of ‘biggest crash in history'; urges investors embrace gold, silver and Bitcoin
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Time of India

time2 hours ago

  • Time of India

‘Stop saving Fake $': Rich Dad author Robert Kiyosaki warns of ‘biggest crash in history'; urges investors embrace gold, silver and Bitcoin

Personal finance author Robert Kiyosaki has once again raised alarm over the state of the global financial system, urging investors to abandon fiat currencies and instead turn to real assets like gold, silver, and Bitcoin. Tired of too many ads? go ad free now In a fresh social media post on X, the Rich Dad Poor Dad author reiterated his long-standing criticism of central banks, warning that the US economy is on the brink of a historic collapse. 'Stop saving FAKE $,' Kiyosaki wrote, advising his followers to 'Start saving real gold, silver, Bitcoin.' Referring to his well-known principle, he added: 'Rich Dads Rule: 'Savers are Losers.'' Kiyosaki slammed the US Federal Reserve for repeatedly responding to financial crises by expanding the money supply, calling it a form of 'printing fake money.' He listed several examples including the 1987 market crash, the 1998 collapse of Long-Term Capital Management, the 2019 repo market seizure, the Covid-19 pandemic, and the Silicon Valley Bank crash, claiming that in each instance, the Fed's solution was the same, print more money. 'It's not a new crisis... it's the same crisis getting bigger,' he argued, describing what he sees as a pattern of systemic failure. He warned that America has now become 'the biggest debtor nation in history... because of the FED,' and reaffirmed his belief that 'The Biggest Crash in history is coming… soon.' According to ET, Kiyosaki has consistently positioned himself as a critic of modern monetary policy and a staunch advocate for alternative stores of value. His posts in recent months have included bullish predictions for silver, with the author claiming the metal is still 'significantly undervalued' and suggesting that its price could double. Tired of too many ads? go ad free now Kiyosaki's warnings echo a broader scepticism held by some financial commentators about the sustainability of high debt levels and the long-term value of fiat currency in a low-interest, high-liquidity environment. While his views are controversial, they continue to resonate with a growing number of investors seeking protection from perceived monetary instability. This latest post reaffirms Kiyosaki's core message, steer clear of cash and paper assets and instead prioritise tangible alternatives to safeguard long-term wealth. (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

CoinDCX lost $44 million but no users affected, now how did that happen?
CoinDCX lost $44 million but no users affected, now how did that happen?

India Today

time3 hours ago

  • India Today

CoinDCX lost $44 million but no users affected, now how did that happen?

It'd been a while since India's crypto sector grabbed any headlines (negative) and attracted unwanted attention. With Bitcoin recently hitting an all-time high of around $118,000 per Bitcoin, it seemed that everything in crypto was going good. But then, catastrophe 21 July, India's crypto sector was jolted when CoinDCX, one of the country's major cryptocurrency exchanges, confirmed a security breach that led to a staggering $44 million loss. Convert that, and that's more than Rs 380 crores stolen. However, what stood out in the official communication was this: no user accounts were affected. So what exactly was hacked?advertisementDon't crypto exchanges use blockchain for transactions? Isn't blockchain supposed to be unhackable? And how did such a massive attack go unnoticed until after the funds were drained?Let's try to break it all down in this hack: What happened? On July 19, CoinDCX suffered a cyberattack that resulted in the theft of approximately $44.2 million worth of crypto assets, including over 155,000 SOL (Solana) and 4,400 ETH (Ethereum). The news of the breach came to light after several on-chain analysis firms like Cyvers flagged suspicious activity involving CoinDCX's reported, the stolen funds were not from customer wallets, but from an internal operational wallet used by the exchange for providing liquidity—basically, helping facilitate smooth transactions across crypto pairs. You see, like banks, even crypto exchanges need to keep some cash on the exchange to facilitate customer transitions smoothly. The hack happened when funds were quickly moved across blockchain networks and laundered using tools like Tornado Cash, a crypto mixer often used to obscure the origin of stolen user accounts compromised?The report also stated that no customer accounts were affected by the hack. CoinDCX confirmed that: All customer funds remain safe and untouched. The affected wallet was strictly for internal operations, not user holdings. The company has covered the entire loss using its corporate treasury. CoinDCX is offering an $11 million bounty to any white-hat hacker who helps retrieve the funds. As most customer funds are stored on cold wallets, which aren't connected to the server, this clean separation prevented a much larger crisis. CoinDCX also immediately strengthened its backend infrastructure and began working with cybersecurity firms for forensic what was actually hacked?Let's be clear about one thing–the blockchain wasn't hacked. Instead, backend systems that connect CoinDCX's platform to the blockchain were compromised. Think of it like this: the vault (blockchain) is secure, but the lock on the door leading to the vault room (the exchange's software) was left open or broken. While it's not confirmed how exactly the hack happened, there are a few possibilities we can likely vulnerabilities exploited:Leaked or misconfigured API keys that allowed unauthorised access to hot access controls, meaning internal systems had excessive weaknesses where malicious actors gained backend to blockchain security firm Cyvers, the attack was 'swift and sophisticated', and bears hallmarks of previous hacks attributed to Lazarus Group, a North Korea-linked hacker collective. On the hack, CoinDCX also issued a press note stating that the incident involved only one internal operational account used for liquidity provisioning on a partner a blockchain be hacked?This is where confusion arises for most people. While blockchain technology itself is designed to be highly secure and resistant to tampering, the platforms built on top of it (like exchanges and bridges) can and have been are mostly in the form of decentralised finance applications and smart contracts, which are built on the blockchain. These are tools which help move crypto from one blockchain to another. Without these, moving crypto is impossible. Here's a simple breakdown: What else can be hacked?Beyond exchanges, several key components in the crypto ecosystem are vulnerable:advertisementSmart contracts: If not properly audited, logic flaws or unchecked inputs can be wallets: Users store crypto in these. These are constantly online, making them easy targets for malware, phishing, or exposed private wallet services: Can be compromised via backend breaches or insider nodes: Rarely hacked, but vulnerable if poorly configured or running outdated protocols: Extremely difficult to hack due to decentralisation and consensus mechanisms. One would need to gain control of millions of computers to bridges: One of the most vulnerable and highly targeted for their complexity and poor audits; attackers exploit bugs to drain hacked in the pastCoinDCX isn't the only exchange which has been hacked, and it's not even the largest hack till now. Here's a list of major hacks in the past. Major past crypto exchange hacks:WazirX (2024): Reportedly lost $230+ million when a third-party wallet (Liminal) was Gox (2014): Lost 850,000 BTC, worth billions today, due to internal mismanagement and a long-running security (2022): Technically a misappropriation rather than a hack, but over $400 million was stolen during its in 2025 alone, North Korea-linked hackers are estimated to have stolen over $1.6 billion in crypto via various do Indian exchanges secure user funds?Despite the risks, reputable Indian exchanges like CoinDCX and CoinSwitch follow multiple layers of measures in place:advertisementCold wallets: Most user funds are stored offline, away from the internet. These cannot be hacked until the hacker has passwords to these access: No single person can move funds unilaterally. You need signatures of multiple people to access user monitoring: Automated systems detect unusual transactions and flag them. Third-party audits: Regular checks on reserves and compliance: All crypto exchanges registered with the Financial Intelligence Unit (FIU) must report incidents with these safeguards, the fact that these exchanges are run and maintained by humans makes them the weakest link. Despite strict firewalls, things like misconfigured systems to social engineering tactics make these exchanges vulnerable to this still mattersThe CoinDCX hack brings up a critical question: Who is watching over crypto in India? Unlike traditional banks, crypto exchanges in India operate in a regulatory grey area. There's no insurance if an exchange loses money. Even if your funds are safe today, there's no formal government body to protect you in the event of a total since the government hasn't officially recognised crypto as a legal financial instrument, these platforms must self-regulate and absorb any damages, as CoinDCX has done in this case. Despite this ambiguity, Indians continue to put more money in crypto, considering the success and a handful of people have been able to derive from early is secure, but systems can failThe breach at CoinDCX didn't break the blockchain, nor did it rob everyday investors. However, it did expose the vulnerabilities that exist between the user and the chain–the infrastructure, the access systems, and the operational the objective of this article isn't about crypto being unsafe, it's a reminder that even the strongest technology is only as safe as the people and platforms managing India's crypto industry matures, the need for stronger regulation, better audits, and consumer protection mechanisms has never been more urgent. Not to mention that crypto exchanges in India need to have systems in place which can predict and prevent hacks like these in order to keep the ecosystem safe.- Ends

Top under-the-radar cryptos to check before they go mainstream
Top under-the-radar cryptos to check before they go mainstream

Time of India

time3 hours ago

  • Time of India

Top under-the-radar cryptos to check before they go mainstream

Academy Empower your mind, elevate your skills Spotlight Wire Spotlight Wire If you've been in crypto for a while, chances are you've got a story you don't like to tell. Maybe you let go of Bitcoin too soon, or didn't bother looking into XRP back when it was trading around $0.50 for a long time last crypto market is chaotic. Amid all the noise, most investors forget that real opportunities often go unnoticed when they are selling is a curated list of undervalued cryptos building an early community of staunch supporters. Even though they have yet to be on crypto exchanges, the underlying altcoin projects show promise. Let's see face it. BTC isn't exactly known for speed or flexibility. It's a great storage of value, as the price performance over the last many years proves. But when it comes to doing anything beyond holding, Bitcoin falls Hyper ($HYPER) steps in with a fix. Instead of reinventing the wheel, it bolts a high-performance engine onto Bitcoin. Built on the Solana Virtual Machine (SVM), this Layer-2 project aims to make BTC faster, cheaper, and concept is simple, yet powerful. All that a user needs to do is bridge their BTC into the Bitcoin Hyper ecosystem to experience Apps, meme coins, and decentralised finance (DeFi) tools. Transactions happen in under a second, at a fraction of the cost. More importantly, the entire architecture is designed for builders and degens Hyper isn't just another 'scaling solution.' It's positioning itself as a real alternative for users looking to trade, earn rewards, and even launch projects without abandoning Bitcoin. With smart contract support and cross-chain compatibility, the platform could finally make BTC $HYPER token fuels the Bitcoin Hyper ecosystem. It's used for gas, governance, and passive rewards. With a presale already racing past $2.8 million, the traffic is building 2025, Layer-2 is where the action is and Bitcoin Hyper is one of the few with both tech and traction. The project is also catching the attention of crypto YouTubers and analysts, giving it even more new presale tier will see a slight price increase, while the dynamic passive rewards for locking taper gradually. Both pricing and reward structures promote early decentralised exchanges (DEXs) are clunky most of the time. They have a high entry barrier for new investors and traders just dipping their toes into the crypto Bot is bringing high-speed, low-friction trading to where degens hang out: Telegram. Built directly into chat, the $SNORT token powers a slick trading interface that supports Ethereum and Solana in the beginning, and more blockchains in the Bot plans a custom remote procedure control (RPC) setup that enables sub-second swaps, copy-trading of top wallets, real-time blacklist alerts, and even rugged token detection. In beta, the system flagged 85% of honeypots and rug pulls, making it one of the most protective bots on the fee structure is another win. $SNORT holders enjoy reduced swap fees, from 1.5% down to 0.85%, beating many Telegram competitors on both speed and cost. Due to the Telegram-native interface, users don't need to leave chat or open new those who are just beginning and don't know what they are doing, the platform offers a copy trading feature that allows them to mirror every trade. And to check a portfolio's health, it features a /portfolio command showing P&L, cost basis, and more, all within the Bot isn't trying to be a replacement for large browser-based crypto trading platforms. But it's making on-the-go trading smarter and safer, especially for meme coin SNORT presale is rapidly moving ahead, having raised close to $2 million already. Investors have little time to buy the underrated crypto token at low prices. With each new stage, the price goes up, and the passive reward rate goes down, in favour of those who join the presale by SPX6900 and drenched in early-internet meme culture, $T6900 openly admits it has zero utility, no use case, and nothing to prove. It's a penny crypto that exists for the chaos and collective delusion. And somehow, that's exactly what makes it project has raised over $500,000 in its presale so far, with the buying frenzy getting stronger. As a project that leans into its uselessness, $T6900 is building an early community of fact, the project calls itself the 'first non-corrupt token (NCT)'. The claim is backed by a supply cap that's fixed, transparent, and designed to be immune to the inflation games so many other tokens play.$T6900 has a hard cap of $5 million, with 80% of the supply released during presale. There is no extra minting, ever.$T6900 is a meme, yes. But it's also a mirror that reflects the absurdity of the market while building something surprisingly cohesive out of that chaos. In a world full of over-engineered tokens and overpromised futures, the project's honesty stands out. And that's exactly what makes it an undervalued crypto to watch this season.

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