Bitcoin under 7000$ because of exchanger hacked - page 2.

robelneo

legendary

Activity: 3416

Merit: 1225

Quote from: pooya87 on June 10, 2018, 10:23:45 PM

hack of the biggest exchanges in the history had no direct reason to cause any bitcoin price drop, this one is just a tiny foreign exchange and the important part is that it lost mostly altcoins not bitcoin.
it is just manipulation, fear and weak hands that is making up this downtrend. and when we are on a downtrend then everybody joins in and wants to be a part of it to make more money (shorting bitcoin for example) so it be comes THE trend that lasts.

It really causes a stir, but hopefully, there will no news of this kind, the exchange should beef up their security, millions worth of dollar worth of altcoins are hacked I believe a big group is doing this kind of thing or could be an inside job just like what we read on newspaper bank robbery.

pooya87

legendary

Activity: 3472

Merit: 10611

hack of the biggest exchanges in the history had no direct reason to cause any bitcoin price drop, this one is just a tiny foreign exchange and the important part is that it lost mostly altcoins not bitcoin.
it is just manipulation, fear and weak hands that is making up this downtrend. and when we are on a downtrend then everybody joins in and wants to be a part of it to make more money (shorting bitcoin for example) so it be comes THE trend that lasts.

Xuml001

newbie

Activity: 6

Merit: 0

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. If prices fall again, it is likely to have a big crash

Remainder

hero member

Activity: 949

Merit: 517

I also see the effect of that hacked to my blockfolio they are all red, we don't know when it can recover all I have to do now is just to hold my token until it will green again, this hacked is continuously happen from time to time to the exchange site I think theirs an anomaly going on their or inside job!

Leyss

member

Activity: 574

Merit: 12

Most likely, the reason for the sharp drop in the entire crypto currency by more than 10 percent is really covered in various manipulations before the big rise of the crypto-currency market. The hacking of the little-known centralized cryptointerpreter Coinrail in South Korea, where tokens NPXS, NPER and Aston were stolen from private purses for more than $ 40 million, were the cause of such a drop in bitcoin, ethereum and other altcoyins.

docamvan1997

newbie

Activity: 126

Merit: 0

There are many bad news which affect the BTC price. But BTC is the leader of crytos so it'll rise up again. Stay calm and wait.

MyEtherPony

newbie

Activity: 52

Merit: 0

That Altcoins worth $14M from the hackers ETH account. Not a small figure considering this amount was coming from "hack"

ice18

hero member

Activity: 2492

Merit: 542

Quote from: mahibul49 on June 10, 2018, 01:33:56 PM

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

just keep calm

Agree I just read some good news in my email regarding sec about bitcoin and its definitely a good news I dont know if it was just a rumor or real but I think some whales are preparing to go to the moon for another lambo lol.

chard lie

newbie

Activity: 112

Merit: 0

We face this kind of things, hacks once in a three month unfourtunately but I believe that coinrail is not a very big exchange with a huge volume and this effect will pass soon.

sabine80

member

Activity: 728

Merit: 14

somehow i do not think it's up to the hack. in the last big hack were more worth stolen and the price did not go down.

Indrawan77

hero member

Activity: 1274

Merit: 516

It's a bad news for bitcoin, bitcoin just started to heal then come another problem and causing the price plunging down, this is really bad, this situation can make the investors losing the trust and make all the alt coin to bearish trend again, and exchanges reputation once more being tainted, its such unfortunate, so far it's a gloomy year for bitcoin

Coinky

jr. member

Activity: 165

Merit: 2

I don't think it is the reason as only tokens were hacked /lost and not bitcoin

marlonbatotoy

member

Activity: 182

Merit: 10

It's so hard to tell whats happen but ive read some news about that.. But i dont know if it's true.. But do you think bitcoin will down slowly if an exchanger is hacked? I think it's down in a seconds.. But almost of coin is down.. Just trust the fact..

btj

member

Activity: 115

Merit: 16

Quote from: Mozdalifa17 on June 10, 2018, 06:41:49 PM

Quote from: btj on June 10, 2018, 01:11:04 PM

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

People loosing money not only because of hackers it is a down trend started several months ago and i am afraid BTC return back to 1 k again . imagine how many members at that time will left us here alone in darkness age.

I don't think it's possible to sell at that price again ... there peoples that bought bitcoin at 19k$, no one will think to sell it at that price even if they leave them rot in their wallet.

Quote from: Wulanayu on June 10, 2018, 06:53:50 PM

in my opinion it does not make sense between bitcoin prices with hacking exchange because I do not think both of them have a hook, the ascending and declining bitcoins are not affected in the hacking crash.
bitcoin and other coin alt follow market development, if market is lonely i am sure price will go down and when market is crowded bitcoin and other coin will go up.
bitcoin falling below $ 7000 is common and there is nothing you need to worry about because it is a common thing that often happens and if compared with 2014 bitcoin fall so deep but you can see now and you can judge it yourself.

Not only Bitcoin affected but even all other altcoins ! What explain this ? and this arrive in the same day (What other event can make this?).

And it's already happened before when exchangers has been hacked.

Wulanayu

full member

Activity: 336

Merit: 100

in my opinion it does not make sense between bitcoin prices with hacking exchange because I do not think both of them have a hook, the ascending and declining bitcoins are not affected in the hacking crash.
bitcoin and other coin alt follow market development, if market is lonely i am sure price will go down and when market is crowded bitcoin and other coin will go up.
bitcoin falling below $ 7000 is common and there is nothing you need to worry about because it is a common thing that often happens and if compared with 2014 bitcoin fall so deep but you can see now and you can judge it yourself.

Ishiro5

copper member

Activity: 224

Merit: 3

I do not really think that is what happened, even if there was a hack of coinrail which I don't think. If you study the charts and the mood of the market, BTC current moves has some logical correlation with that

ladydark

hero member

Activity: 686

Merit: 500

If this is the true reason behind the price fall,then this fall would be temporary and we could expect market to recover soon.

But since it has been a small exchange,the impact is also less.

Mozdalifa17

hero member

Activity: 746

Merit: 509

TIME and WAVE COINs TO REMEMBER

Quote from: btj on June 10, 2018, 01:11:04 PM

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

People loosing money not only because of hackers it is a down trend started several months ago and i am afraid BTC return back to 1 k again . imagine how many members at that time will left us here alone in darkness age.

ahmadakbari

full member

Activity: 602

Merit: 116

Coinrail is the 99th biggest exchange. The trade volume is about 2.5 million dollar. I don't think this has significatly affected the market. It's not the reason of current price fall.

Reid

hero member

Activity: 3052

Merit: 651

Quote from: btj on June 10, 2018, 04:14:10 PM

Quote from: Reid on June 10, 2018, 04:02:19 PM

Yes and it was PundiX who was affected the most by this incident.
It was just a few months ago when they finished their ICO and they did bounty here.
Actually they have grew way much that many investors could have withdrawn too.
But back to the hacking, another glorious day for the hackers for millions of dollars are in there.
I guess exchanges should see this as a lesson for more protection.

Bitcoin affected heavily.

I don't think so, everytime a major event like this occure without taking the necessary measure and plans to prevent this again !

A feature must be implemented on the cryptocurrency itself to protect against this attack in the futur.

Well I visited their telegram group and they have their own precautionary measure at this.
Looks like PundiX team is good and they have said when the investigation is done from the Korean police everything will be back to normal.

I say that is one hell of a team if they can somehow assure their investors that it is still going smoothly.
They should really prevent a panic from this kind of events.

Topic: Bitcoin under 7000$ because of exchanger hacked - page 2. (Read 555 times)