Bitcoin managed to recover some of its losses on Sunday morning in London, following a sharp decline on Saturday evening triggered by reports of an attack by Iran on Israel with 300 missiles and drones.
In the aftermath of the news from the Middle East, the world’s largest cryptocurrency by market cap experienced an 8.2% drop late Saturday, plummeting to $61,619. Crypto traders were among the first to react to the news as major financial markets were closed for the weekend, as reported by Bloomberg.
Following the initial sell-off, Bitcoin’s price surged by as much as 8.3% on Sunday morning, with Uniswap and Polkadot also seeing gains of over 10%, according to Bloomberg.
As of the latest data, Bitcoin was trading at $64,100, marking a 5% decrease over the past 24 hours. While it remains 13% below its record high of $73,798 reached in March, the cryptocurrency has more than doubled in value over the past year.
In other news, Nadeem Anjarwalla, a Binance executive who fled custody in Nigeria last month, where he was being held on charges related to alleged manipulation of Nigeria’s currency, was tracked down in Kenya, according to the Nigerian newspaper Punch. Authorities from both countries are reportedly discussing Anjarwalla’s extradition to Nigeria, where his colleague Tiger Gambaryan, also a Binance executive, remains in custody.
Meanwhile, Shakeeb Ahmed, a former Amazon security engineer, has been sentenced to three years in prison and ordered to forfeit $12.3 million, as well as pay $5 million in restitution, for stealing $12 million from two decentralized exchanges. Ahmed, 34, pleaded guilty last December to charges of wire fraud and money laundering. He stole the funds from Nivarna Finance and a decentralized exchange on the Solana blockchain, reportedly Crema Finance, according to CoinDesk.
