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Topic: Bitcoin under 7000$ because of exchanger hacked - page 4. (Read 555 times)

legendary
Activity: 3080
Merit: 1500
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.
member
Activity: 490
Merit: 10
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.
full member
Activity: 476
Merit: 100
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.
 
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
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.
btj
member
Activity: 115
Merit: 16
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.
member
Activity: 280
Merit: 28
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.
sr. member
Activity: 840
Merit: 266
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 .
full member
Activity: 826
Merit: 104
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
legendary
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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
full member
Activity: 490
Merit: 100
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.
full member
Activity: 791
Merit: 139
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.
copper member
Activity: 2940
Merit: 4101
Top Crypto Casino
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.
btj
member
Activity: 115
Merit: 16
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.
member
Activity: 132
Merit: 10
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
member
Activity: 115
Merit: 16
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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