[2016-08-03] BS: Bitcoin crashes after hacking on Hong Kong exchange

[polynesia]

Bitcoin crashes after hacking on Hong Kong exchange

http://www.business-standard.com/article/international/bitcoin-crashes-after-hacking-on-hong-kong-exchange-116080300814_1.html

The price of the world's most popular crypto-currency Bitcoin crashed this morning after one of the largest exchanges halted trading because hackers stole about $65 million of the digital currency. Globally prices fell from around $620 two days ago to around $535 per Bitcoin.

Bitcoin is mined using cryptography and its prices are based on the cost of mining. In 2009 it was trading for a few cents but as more coins are mined is cost rises as more high-end computers and continuous power are needed.

[polynesia]

Other coverage.

http://www.livemint.com/Money/FbvAYjleThWF4toLEpU3EL/Bitcoin-sinks-after-hackers-steal-65-million-from-exchange.html
http://gadgets.ndtv.com/internet/news/bitfinex-bitcoin-exchange-in-hong-kong-gets-hacked-868688
http://www.news18.com/news/tech/hong-kong-bitcoin-exchange-suspends-trading-after-getting-hacked-1277007.html