cryptocurrency exchange hack

[booli8]

Bitcoin eased further on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency exchange had been hacked.

Other major cryptocurrencies also weakened markedly.

Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its lowest level since April. Bitcoin pared some of those losses to trade around $6,581.88 by 3:15 p.m. HK/SIN, according to CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following news that South Korean exchange Coinrail had been hacked, with a number of lesser-known cryptocurrencies such as Pundi X counting among those affected. Bitcoin, however, was not mentioned by the exchange in its statements, according to Google translate.

The continued downward move was unlikely a result of last week's hack, which saw a limited level of damage caused, said Mati Greenspan, senior market analyst at eToro.

"The narrative that such a small hack caused such a large price reaction has definitely been overplayed," he said, adding that bitcoin's drop on Sunday was caused by a technical correction.

Over the last 24 hours, Bitcoin has seen a dip of around 4 percent, according to CoinMarketCap. So far in 2018, the cryptocurrency is down more than 50 percent.

Chart analysts have indicated that bitcoin's move below the $7,000 mark suggested a speedy recovery was unlikely.

As for other crypto assets, the last day has proven challenging.

Ethereum, the second-largest cryptocurrency by market capitalization, was down almost 7 percent in the last 24 hours, CoinMarketCap data showed. Ethereum stood at $496.47 at 3:15 p.m. HK/SIN, according to CoinDesk.

Ripple was lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 3:15 p.m. HK/SIN.

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[2fresh]

Some small Korean exchange get's hacked, big freaking deal...
This is how you create fud.

[SuperD007]

1 teeny weeny unknown exchange in Japan gets hacked and the FUD army starts a media frenzy.  One the same day, probably dozens of banks were robbed across the world and probably even more ATMs robbed... but lets rather shine the spotlight on a single exchange that was hacked....  lol

[oludare1]

I don't really know much about cryptocurrency exchange hack but I know of possibility of hack in myetherwallet. One of the ways of sending coins to the exchange wallet on mew is through private keys, if this is hacked, then private keys can be revealed.

Instead of using mew, many times I used to send directly from imtoken.

Fraudulent activities like hacking cannot be totally controlled but more digital security is needed to curtail this.

[JackssHarriss]

If you're worried about hacks, consider HBUS. They're a new marketplace that uses the same secure technology as Huobi, who have never been hacked, but is open to US users. They have some cool prizes going on too go check out their website hbus.com

[Blackrain13]

   Hackers are knowledgeable and always can find a way to hack and the they are big timer because their target are the exchange. So, we need to be careful enough and avoid putting all your coins in just one exchange,much better if we will separate it. And always keep our password and private key secured and also use 2FA authentication for more security.

[bitvalak]

Bitcoin eased further on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency exchange had been hacked.

Other major cryptocurrencies also weakened markedly.

Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its lowest level since April. Bitcoin pared some of those losses to trade around $6,581.88 by 3:15 p.m. HK/SIN, according to CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following news that South Korean exchange Coinrail had been hacked, with a number of lesser-known cryptocurrencies such as Pundi X counting among those affected. Bitcoin, however, was not mentioned by the exchange in its statements, according to Google translate.

The continued downward move was unlikely a result of last week's hack, which saw a limited level of damage caused, said Mati Greenspan, senior market analyst at eToro.

"The narrative that such a small hack caused such a large price reaction has definitely been overplayed," he said, adding that bitcoin's drop on Sunday was caused by a technical correction.

Over the last 24 hours, Bitcoin has seen a dip of around 4 percent, according to CoinMarketCap. So far in 2018, the cryptocurrency is down more than 50 percent.

Chart analysts have indicated that bitcoin's move below the $7,000 mark suggested a speedy recovery was unlikely.

As for other crypto assets, the last day has proven challenging.

Ethereum, the second-largest cryptocurrency by market capitalization, was down almost 7 percent in the last 24 hours, CoinMarketCap data showed. Ethereum stood at $496.47 at 3:15 p.m. HK/SIN, according to CoinDesk.

Ripple was lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 3:15 p.m. HK/SIN.

the hacking news of the exchanger always has a tremendous impact on bitcoin prices, so it can be concluded that the hacker exchanger is just a game for bitcoin prices to be played. In my opinion like that. We wait for the next news   

[walemil]

I haven't seen much impact of this hack on the cryptocurrency price movement because they look very normal. Even the pundi-x mentioned seems to be doing fine. People have been advised several times not to leave their cryptocurrencies on exchanges so they won't be vulnerable to hackers.

[rajurathod18]

Actually this cryptocurrency exchange hack are affecting the current market scenario. In July we were supposed to see Bitcoin jump to 10000$ but due to cryptocurrency exchange hack one by one first coinrail than bithumb and now I am wondering who is next. Now it's time to control this hacking by bringing secured technology to safeguard all cryptocurrency enthusiastic people's.

[hastang]

This is getting worst everyday! The market showed weakness because of this kind of news many investors fear to loss their capital and tend to dump their holding to the market resulting to more dip. as of this writing btc has showed significant change with the direction going up.. Hopefully it will continue to rise up.

[matuson]

It seems to me that a large part of the blame for the hacking of the exchange lies with the leadership of the exchange. The minimum is criminal negligence and the maximum is malicious intent. Exchanges should have kept their money in the fridge for a long time. Trades should be conducted only in electronic form and correct the accounts several times a day based on the results of trades.

[perla]

i still believe with my local exchanger and make them as my wallet too. even need high fee to do some transaction, i can find them when something happen with it like site got hacked or any other problems

[gantez]

I think that whatever wallet we use, the secret is that we most keep our private keys safe. If they are exposed, no matter the wallet security and protection, the risk of being hack is very high.

[Mekmbem]

there are two successful exchange cracked by hackers in the year 2018 is the first exchange of the country and recently japan exchange in south korea also been successfully hacked by hackers who make the price of coins on the market down

[charlotte04]

Bitcoin eased further on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency exchange had been hacked.

Other major cryptocurrencies also weakened markedly.

Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its lowest level since April. Bitcoin pared some of those losses to trade around $6,581.88 by 3:15 p.m. HK/SIN, according to CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following news that South Korean exchange Coinrail had been hacked, with a number of lesser-known cryptocurrencies such as Pundi X counting among those affected. Bitcoin, however, was not mentioned by the exchange in its statements, according to Google translate.

The continued downward move was unlikely a result of last week's hack, which saw a limited level of damage caused, said Mati Greenspan, senior market analyst at eToro.

"The narrative that such a small hack caused such a large price reaction has definitely been overplayed," he said, adding that bitcoin's drop on Sunday was caused by a technical correction.

Over the last 24 hours, Bitcoin has seen a dip of around 4 percent, according to CoinMarketCap. So far in 2018, the cryptocurrency is down more than 50 percent.

Chart analysts have indicated that bitcoin's move below the $7,000 mark suggested a speedy recovery was unlikely.

As for other crypto assets, the last day has proven challenging.

Ethereum, the second-largest cryptocurrency by market capitalization, was down almost 7 percent in the last 24 hours, CoinMarketCap data showed. Ethereum stood at $496.47 at 3:15 p.m. HK/SIN, according to CoinDesk.

Ripple was lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 3:15 p.m. HK/SIN.

For quite a bit I have got an idea that exchange wants to say that they are hacked but the truth is they hack themselves to spread FUD or anything that could make the prices to fall.

[olubams]

I think its high time we started separating the increase or decrease in the price of bitcoin to singular events. Just yesterday, I have read on the forum on how a company that was license to carry out bitcoin trading was claiming victory as the reason why there was some small green witnessed yesterday and this same yesterday this article is claiming to have been responsible for the downward trend. How long are we going to deceive ourselves. Market participants don't even know what is going on in the forum or what happen to an exchange sites in far away Asia. They do their trade and hope for a better day.

[thevlox]

There is really crypto currency hack. If that's the word, it's also true. Many evil people out of this bad road. Many people want to hack more people by using their own hacks. This is really a shocking act.

[Crypto Deep]

South Korean cryptocurrency exchange has suffered a hack and lost some 30 percent of its coin inventory. Coinrail said on its homepage it was attacked and lost Pundi X, Aston, and Nper. The coins were worth some US$40 million, according to local reports.It said 70 percent of its inventory was safe and was moved to cold wallets.Two thirds of the leaked coins have been frozen and the company was being recovered.

[Adebits]

I don't fully trust those exchanges, there are a lot of shady deal in Cryptosphere, they may the one hacking theirself

[Ava Duvall]

I don't fully trust those exchanges, there are a lot of shady deal in Cryptosphere, they may the one hacking theirself

I dont think anyone  should trust them. theres a psoibility to lose everything. i personally don't recommend it to anyone