[2017-11-21] ET: Bitcoin falls on $31 million hack of cryptocurrency peer Tether

[polynesia]

Bitcoin falls on $31 million hack of cryptocurrency peer Tether

https://economictimes.indiatimes.com/markets/stocks/news/bitcoin-falls-on-31-million-hack-of-cryptocurrency-peer-tether/articleshow/61737183.cms

Bitcoin fell the most in a week after the company behind cryptocurrency tether reported a $31 million theft.

The amount was taken from the Tether Treasury wallet on Nov. 19 and sent to an unauthorized bitcoin address, according to an announcement on the company’s website posted on Tuesday. The stolen tokens will not be redeemed, and the company is trying to prevent them from entering the ecosystem, it added. Bitcoin dropped as much as 5.4 per cent, the most since Nov. 13. It was last trading 1.6 per cent weaker at $8,117.

[reliable]

In spite of such a big hack the btc price recover so quickly that the fall did not last for a long time as ideally it should have being considering it is a big event. But now btc is just on a rising mode neglecting all the events happening in a big way. Currently btc is above 8250$ and may cross 8500$ over the weekend it seems.