Bitcoin under 7000$ because of exchanger hacked

[Dukjila]

I think that if the altcoins lose their currency, investors should switch to a more reliable option - Bitcoin, the corresponding value should change.

[Emilyp]

This is one of those cycles that keep repeating itself, these exchanges should be able to protect themselves from any outside intrusion.

[Johnny_ric0]

In my opinion it is more like the whales are taking advantage of current news about exchange in Korea and are dumping price to push out retail investors to buy bitcoin at lower price. So my advice should be HODL or buy more.

[yesuidanggan]

The attack on the exchange will cause panic among investors, who are worried about the loss of their encrypted currency. They will sell the encrypted currency on a large scale and replace it with legal currency.

Security issues have a big impact on the price of cryptocurrency!

[Cimmy_revenger]

Someone tries to make quick money by scanning port 8545, looking for geth clients and stealing their cryptocurrency, good thing geth by default only listens on local 8545 port. So far it has only got 3.96234 Ether on its account, but hey it is free money
https://thehackernews.com/2018/06/ethereum-geth-hacking.html

[dutchkay]

There is a hack on Coinrail exchange but that exchange doesn't hold much volume in the crypto space compared to other exchanges. Dumping those coin might affect the market true but let's not forget that since this year Bitcoin have been on the downtrend coupled with so many things happening. Whales shorting it, and Mt Gox by the side waiting for a rise to do the needful too. Well this is is really something else.

[mario00]

Not really, there are lots of factors that can affect the price of bitcoin and cause it to dip. Sometimes it can just be that it is just plain old market manipulation at its best and that the whales are buying coins so they are keeping the prices down until they can buy a lot of coin then they manipulate the prices to go up so they can sell

[makatia]

Bitcoin hacking is possible but Bitcoin is different, bitcoin and other currencies alt under market development, if the market is lonely I'm sure the price will go down and when the market is bitcoin crowded and other coins will go up.

[altercreed]

This is the very reason why i don't put my bitcoin exchange. As we can read from news, more and more cryptoexhanges have been hacked because they are the number 1 targets for hackers because hackers know there's a lot of money in there as some crypto holders and investors are putting their assets there.

[Vanes_brz]

There will steal here will break, already tired of these hackers and protection from absolutely no, do what they want, and the prices suffer from this..

[Haunebu]

The attack on the exchange will cause panic among investors, who are worried about the loss of their encrypted currency. They will sell the encrypted currency on a large scale and replace it with legal currency.

Security issues have a big impact on the price of cryptocurrency!

True. Such incidents tend to impact the cryptocurrency market in a negative way. The exchanges should be blamed here due to their improper security measures which lead to such incidents. Hackers will always try to come up with new ways to try and hack exchanges, wallets etc to try and steal our cryptocurrencies which is why we need to step up our game and add extra security measures in order to safeguard our valuable funds.

[izanagi narukami]

This is the very reason why i don't put my bitcoin exchange. As we can read from news, more and more cryptoexhanges have been hacked because they are the number 1 targets for hackers because hackers know there's a lot of money in there as some crypto holders and investors are putting their assets there.

IMO , any exchange include your online wallet are not the suitable place to keep your bitcoin fund.
Offline wallet , IMO , the safest one.

As we already aware when everything in internet, they can be hack , it's just the matter of time or how advance the exchange's security can improve with hacker's ability !

[gorokill]

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

Bitcoin will not die, but this kind of thing like hacker attacks on popular crypto-exchanges and crypto platforms, can shake investors' confidence in adopting Bitcoin, and this can make a sharp decline in Bitcoin because of panic sales. But the important reason for sharp fluctuations in a certain price range is also the fact that market participants try to find "fair" prices for bitcoin.

[Zigzagkuy]

Is this real news? this seems so messed up and I see the hacker's wallet really has a lot of money now. But maybe because of this the price of bitcoin has dropped again. There may be another reason why bitcoin is down. And you can explain in more detail about this.

[KayceeMae]

It's gonna bounce around just enough to wipe out all the short and long positions once in a while, which would drag all the alts in the general direction, respectively, but other than that it's a decline downwards. You can try Tether and wait until it bottoms out, then buy some shit and sell back into Tether within a week before it dips again.