Bitcoin value dips in wake of South Korean exchange hack

12 Junio, 2018, 01:36 | Author: Arnold Perez
  • Image via Shutterstock

Coinrail noted that two-thirds of the stolen Bitcoins were withdrawn or frozen through partnerships with related cryptocurrency exchanges and coin companies.

In January, bitcoin was forecast to reach $33,000 per coin by 2019, but after a tough start of the year for the world's most popular cryptocurrency, the estimate is now around $14,000. The Wall Street Journal reported Friday that U.S. investigators were demanding several bitcoin exchanges hand over trading data as part of a probe into potential manipulation of futures markets.

When the bitcoin price fell more than $1,000 and the cryptocurrency market cap shed more than $40 billion on "Bloody Sunday", many media commentators attributed the decline to a security breach at a small cryptocurrency exchange in South Korea.

However, the fallout of the hack means Bitcoin took a major tumble, dropping 5.1 per cent, which might not seem like much but is the biggest drop since 23 May, according to Bloomberg. NY time on Friday and was trading at US$6,782.42 as of 10:30 a.m.in London on Monday, bringing its decline since December 29 to 53 per cent.

More news: Ferrari's easy Canada win a 'wake-up call' to Mercedes
More news: Camila Sodi llega a 'Luis Miguel, La Serie' como Issabela Camil
More news: Memes in Danger as EU Pushes for New 'Robo-Copyright Regime' - Campaigners

"This is 'If it can happen to A, it can happen to B and it can happen to C, ' then people panic because someone is selling", said Stephen Innes, head of Asia-Pacific trade at OANDA.

"The markets are so thinly traded, primarily by retail accounts, that these guys can get really scared out of positions", he said.

Coinrail isn't the only virtual currency exchange to fall victim to a cyberheist in recent months. Coinrail said 70 per cent of its digital assets have been moved to what is known as a cold wallet - storage that isn't connected to the internet - and that it is working with authorities on finding the lost assets.

The largest cryptocurrency declined to $6,749 as of 2 p.m.in NY, the biggest drop since March 14, according to data compiled by Bloomberg from Bitstamp pricing. "For the rest, we are looking into it with an investigative agency, related exchanges and coin developers", Coinrail said.

Recomendado:



Popular

Assassin’s Creed Odyssey: First Details Leaked via Playstation Store
You'll be able to go through this odyssey as either a male protagonist named Alexios or a female protagonist named Kassandra. Justin Farren detailed the story, explaining how you're a pirate who is going to steal every last coin from the rich.

IHOP changes name to IHOb, 'b' stands for burgers
Rebelez reassured customers that it will always continue to serve the restaurant's famous pancakes and breakfast selections. B stands for burgers, something that many people guessed would be the meaning of the temporary name change.

Trump breaks first lady’s silence on health, describes her ‘big operation’
Melania is redefining the role of the first lady in this country. "She is a great first lady". Trump said of the first lady's health struggle on June 8 that Mrs.

Sony issues World Cup warning to pirates before start of the tournament
Organisers FIFA said the opening ceremony will have a "slightly different format" to previous years and focus on musical acts. FIFA's quirky rankings system to rate 211 men's national teams and decide seeding in World Cup draws is getting a reboot.

"Que se joda Trump": Robert De Niro
La ovación no tardó en llegar y es que algunos entusiastas hasta se pusieron de pie para aplaudir. "Ya no hay más oportunidades para Trump ".

Consecuencias del FMI: El gobierno eliminó la meta de inflación para 2018
También a garantizar que el Banco Central deje de financiar al Tesoro, a través de un proyecto de ley. La próxima reunión de la conducción del organismo se realizará el 20 de junio.

El acuerdo con el FMI "traerá crecimiento" — Macri
Además consideró que el recorte en el gasto público no impactará en el crecimiento y vaticinó que la Argentina será "imparable" si se alcanzar el equilibrio macroeconómico.

Hallan muerto a actor de "The Goldbergs"
Jackson tenía 20 años y había encarnado a Ari Caldwell en The Goldbergs y a Ted Durkas en Modern Family . Sin embargo, descartan que se trate de un crimen.

Florida went over a year without doing Federal Bureau of Investigation background weapons checks
But the investigation said she didn't follow up after she continued to experience problems and never accessed the system again. Putnam asserted that "no one's safety was at risk" because those 291 people would not have been able to purchase a firearm.

Rafael Nadal clinches record-extending 11th French Open title
Nadal enjoyed a fast start to the encounter, winning the opening six points on his way to going 2-0 up in the first set. Any hopes of an upset all but disappeared along with the ragged Thiem forehand which sailed way beyond the baseline.