World’s Sixth Largest Crypto Exchange sees red after hack.

2018-6-20 21:29

Total market cap of all cryptocurrencies from Coinmarketcap Bitcoin (BTC) is trading around $6,663 at press time, down 2.6 percent over the 24-hour period.
The leading altcoin is nonetheless holding ground above the $500 mark, after an intra-weekly low saw it drop to $486.
Today’s reversal of the markets’ bullish flash June 18-19 is likely a response to breaking news of the theft of $30 mln from the world’s sixth largest crypto exchange Bithumb, the leading crypto trading platform in South Korea.
Although Bithumb had said it would compensate users, its original tweet pledging to do so has now been deleted, raising alarm among crypto commentators.
Earlier this month, news of the $37 mln hack of a minor Korean crypto exchange Coinrail – ranked the 99th largest crypto exchange by volumes globally at the time – similarly drew Bloomberg, the Wall Street Journal (WSJ), Reuters, and the Guardian to all attribute the markets’ grim performance to the incident.

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