I have to say that it has contributed a small impact to the current price. I just check right now but I was quite surprised to see bitcoin above $11300 still. Maybe there are really a lot of investors today that are still willing to shed money to the market eventhough there's a report of a hacked.
As many of you maybe remember and the rest of us have only heard about MtGox infamously lost over 850,000 bitcoin back in 2014 worth at the time somewhere in the region of $400m. Today it was announced that CoinCheck was hacked and lost an amount 'greater' than that, somewhere in the region of $500m.
But just how really do these news stories compare and add up. Back when MtGox happened the market cap was sitting at around $8bn so that means around 16% of the market cap was lost in value. As of writing the market cap is at around $550bn putting CoinCheck's loss at just under 1% of the total market cap.
On news of this hack the price fell somewhere in the region of 10%, of course you can argue there are other factors at play but a 10% drop because 1% of funds were hacked does seem like the work of FUD in a market which is still uncertain following recent FUD around regulation in South Korea and China.
During that time, it was only Mt. Gox who is the dominant exchange that why the hacked took a toll on bitcoin price. But since crypto has emerge from the ashes of the hack and exchanges popping up globally, the Coincheck incident will not have a drastic impact to the markete price as compare to the Mt. Gox heist.