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Author Topic: Bitcoin under 7000$ because of exchanger hacked  (Read 371 times)
btj
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June 10, 2018, 06:11:04 PM
 #1

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

Notice that almost all alcoins prices are decreased by 10% or above for some of them, check https://coinmarketcap.com/ please.

Here is the the wallet of the hacker: https://etherscan.io/address/0xdf9191889649c442836ef55de5036a7b694115b6#tokentxns
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2andahalfBTC
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June 10, 2018, 06:13:26 PM
 #2

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

Where did you get the news from? It would be very nice, if you Ccan post a link in this thread? And also thank you very much for the info, because i could not find soemthing.

btj
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June 10, 2018, 06:18:57 PM
 #3

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

Where did you get the news from? It would be very nice, if you Ccan post a link in this thread? And also thank you very much for the info, because i could not find soemthing.

You can read more about it from here:
https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/

And here:
https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack

Here too:
https://www.forbes.com/sites/chuckjones/2018/06/10/bitcoin-bitcoin-cash-ethereum-ripple-other-ccs-fall-5-or-more-as-south-korea-exchange-hacked/#73bda70358a6

You are welcome.
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June 10, 2018, 06:27:28 PM
 #4

As usual when an exchange has been hacked. The story repeats again and again, with a drop in the BTC price. Hopefully, it won't get an impact for more than 1-2 weeks. A good thing is this exchange is not popular, the sad thing is the news is published in Forbes, Bloomberg and other major media.

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June 10, 2018, 06:28:59 PM
 #5

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

NO!!! this is ot about that!!!! bitcoin is down now because whales are getting f=ready for the rocket!
they are bagging more that what we expect ....
if you will see verythin you will understand more.

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June 10, 2018, 06:29:48 PM
 #6

This is quite unfortunate to the bitcoin community. But the exchanges should know better that hackers are not sleeping and should have up their security game. The chain effect of that singular action is massively affecting the market price almost 11%. This is unbelievable, though the next support level is close to the price.

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June 10, 2018, 06:30:31 PM
 #7

this is just a small exchange and nothing much to worry about i really would not have thought 40M could reduce btc that much but still may contribute to this fall back

dont worry decentralised exchanges like blocknet and komodo are almost done





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June 10, 2018, 06:33:56 PM
 #8

i dont think this is the reason behind this crash .btc will bounce back soon.just wait and see.
market is preparing for bullish run Smiley
just keep calm

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June 10, 2018, 06:35:40 PM
 #9

Hack after another this shit need to be stopped, yes I am angry but those morons who can not run an exchange should not run one, they need to know they are dealing with millions and probably billions of dollars, with this rate of fails crypto currency will go no where and no one to blame but cryptocurrency community .   Angry Angry Angry . Every day I get confused more and more that decentralized exchanges is the answer to all this miss .

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Kate Beckett
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June 10, 2018, 06:38:52 PM
 #10

I agree that the main reason that constantly causes bitcoin to fall is the negative news background. Constant news about sanctions, criticism from bitcoin-haters, hacker attacks on popular crypto-exchanges and crypto platforms - all this negatively affects the growth of tokens and bitcoin. But an important reason for sharp fluctuations in a certain price range is also the fact that market participants are trying to find a "fair" price for bitcoin.
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June 10, 2018, 06:51:47 PM
 #11

this is just a small exchange and nothing much to worry about i really would not have thought 40M could reduce btc that much but still may contribute to this fall back

dont worry decentralised exchanges like blocknet and komodo are almost done

Yes decentralized exchangers like BarterDEX of Komodo will prevent and minimize this kind of news.

This is quite unfortunate to the bitcoin community. But the exchanges should know better that hackers are not sleeping and should have up their security game. The chain effect of that singular action is massively affecting the market price almost 11%. This is unbelievable, though the next support level is close to the price.

I agree with your view ! to launch an exchange plateform security is first before anything else. And it's the same thing for any other project.
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June 10, 2018, 06:52:41 PM
 #12

You're welcome to use this as an excuse. I don't believe it's the reason. Korea is an irrelevant market in the first place. A Korean alt exchange is even less relevant. It was going to do this anyway.

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June 10, 2018, 07:01:48 PM
 #13

Speculative market is always like that always reacting to market sentiments. This negative report has actually affected the price of Bitcoin. The exchange should work on their security and starts acting like an exchange of international repute. This is very bad news and my heart goes for those that loss their fund.
 

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June 10, 2018, 07:02:45 PM
 #14

I totally disagree that bitcoin hacked in a single exchange can cause the price to dwindle to this level. Bitcoin reduction has not be and cant be attributed to a single cause. I think there is more to the cause bitcoin is under 7000 than an exchange hacked.
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June 10, 2018, 07:03:07 PM
 #15

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

I doubt that is the reason for bitcoin's price decrease. Especially when the hackers didn't steal any bitcoins from the exchange. They have managed to rob few tokens from the exchange, most notably the Punxi X tokens in significant volumes. However, it is most unlikely that bitcoin's price has been affected by this reason as they don't have any co-relation. But I am also not able to find any other probable reason for bitcoin to go down either. The situation is confusing.

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btj
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June 10, 2018, 07:38:07 PM
 #16

You're welcome to use this as an excuse. I don't believe it's the reason. Korea is an irrelevant market in the first place. A Korean alt exchange is even less relevant. It was going to do this anyway.


I doubt that is the reason for bitcoin's price decrease. Especially when the hackers didn't steal any bitcoins from the exchange. They have managed to rob few tokens from the exchange, most notably the Punxi X tokens in significant volumes. However, it is most unlikely that bitcoin's price has been affected by this reason as they don't have any co-relation. But I am also not able to find any other probable reason for bitcoin to go down either. The situation is confusing.

And we are speaking about 40 millions of dollars are stolen !

Check https://coinmarketcap.com/ please, all altcoins including Bitcoin and ethereum decreased in price with up to 10% (Only red turn there today).

You can see this with your own eyes, what is the reason behind this then ?
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June 10, 2018, 07:48:22 PM
 #17

Is this true how can be bitcoin can be hacked any site or how is this legit ? just wanna know

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June 10, 2018, 07:52:20 PM
 #18

wow, was wondering what happened. thanks
btj
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June 10, 2018, 07:57:59 PM
 #19

wow, was wondering what happened. thanks
Welcome ! This prove how Bitcoin and cryptocurrency world can be affected and sensitive to bad news (Even South Korea if i can say).
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June 10, 2018, 08:00:49 PM
 #20

South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system.

And they losses over 40 Millions $ of altcoins.

And this caused Bitcoin price decrease.

Notice that almost all alcoins prices are decreased by 10%, check https://coinmarketcap.com/ please.

Here is the the wallet of the hacker: https://etherscan.io/address/0xdf9191889649c442836ef55de5036a7b694115b6#tokentxns

could it be that the stolen altcoin and btc are being sold off or people are just getting afraid and selling off to avoid stories?
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