2018-6-11 19:02 |
Cryptocurrency users are venting frustration June 11 after mainstream media outlets reported the crypto market had fallen namely due to the hacking of a small South Korean exchange Coinrail.
As both Bitcoin and altcoins fell June 10, sources including Bloomberg, the Wall Street Journal (WSJ), Reuters, the Guardian and others claimed that Coinrail’s hack – which local media reported as causing $37 mln in losses – had crashed markets.
The exchange confirmed the “cyber intrusion” in a tweet Sunday, and in a post on its site, but has yet to specify the value of losses.
“Enthusiasm for virtual currencies has waned partly due to a string of cyber heists,” Bloomberg wrote June 10, citing an Singapore forex trader who told the publication that Coinrail had prompted widespread “knee-jerk” selling, triggering the price drop.
Not just price, but several other measures pointed to a protracted period of bear market conditions, he said.
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