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How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass...
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Hacker on FTX Transfers 50,000 ETH to New Address


According to a revelation from blockchain analysis company Chainalysis, the perpetrator of the FTX hack on November 11 is transferring the ETH that was taken to Bitcoin. There were slight worries that the perpetrator, who appeared unskilled, may sell off all of its ETH holdings. When the attacker dumped 50k ETH on-chain on Sunday, the price of ETH dropped by roughly 7%. The attacker had been methodically exchanging the currency they had stolen for Ether tokens throughout the previous week. They became one of the largest ETH holdings in the sector as a result of this transaction. However, the hacker started trading the unauthorized ether for Ren Bitcoin early on Sunday.

Ren Bitcoin is an ERC-20 token that functions as the Ethereum network's representation of one bitcoin. According to earlier allegations, the exploiter was bridging the funds using the Ren protocol. On-chain data shows that soon before 2:30 am ET, the malicious actor transferred around 5000 ETH to a new wallet. At current rates, this equals close to $6 million.

After the initial transaction, the attacker carried out 3 further transactions, moving 10,000 ETH twice, followed by 25, for a total of 50,000 tokens. They were able to transfer a total of $58 million worth of ETH to the new address. The burglar had shifted $15 million worth of ether in about a half-hour, according to DeFi analyst kamikaz ETH.

On November 11, FTX announced the news of a $600 million hack via its Telegram and on Twitter. Recently, though, rumors have started to spread that the attack was simply the Bahamas regulator confiscating the platform's assets. These claims seem to have been clarified by chain analysis, which disproves the Bahama's rumors. The events of ten days ago have left the cryptocurrency market still feeling dazed.
The events of ten days ago have left the cryptocurrency industry still feeling dazed. The failure of FTX and Alameda caused other projects to become unstable, investors to lose trust, and skeptics to predict the end of the world. Fortunately, this is not the first mishap in the cryptocurrency market's history. And as we've already seen, the market and its assets eventually bounce back and outperform forecasts. The only thing left to do is wait and watch how long it takes this time.

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