Some $31 million worth of crypto stolen from South Korea’s largest crypto exchange
The Bitcoin price (BTC/USD) has seen a acute decline on Wednesday, following news of another crypto exchange hack te South Korea.
The diferente cryptocurrency posted strong gains on Tuesday, spil news that US financial payments rock-hard Square had received a BitLicense te Fresh York and an upbeat crypto market helped the coin to reach a one-week high. Ter early afternoon trading, Bitcoin topped the $6,800, reaching an intraday high of $6,822.50, its highest price level since June 12. The coin eventually finished the day at $6,769.94, slightly higher than its opening level of $6,742.39.
However, Bitcoin experienced a acute druppel te the early hours of today&rsquo,s trading, with its price tumbling to an intraday low of $6,611.82. Most major coins, including Ethereum (ETH), Ripple (XRP) and Bitcoin Contant (BCH) experienced similar declines.
The slump wasgoed likely triggered by news of another hack, this time targeting South Korea&rsquo,s leading crypto exchange, Bithumb.
Te an announcement published earlier today, Bithumb said that around $31 million worth of cryptocurrency had bot stolen te the hack, which occurred inbetween late Tuesday night and early Wednesday morning. The exchange did not specify which cryptocurrencies had bot affected, but said that it would voorkant all losses. Bithumb also said that the remaining assets had bot moved to its cold wallet and urged investors not to deposit any funds into Bithumb wallet addresses until further notice.
Media outlets, including Coindesk Korea, have reported that the third-largest cryptocurrency, Ripple (XRP) may have bot targeted. According to gegevens from Coinmarketcap, Bithumb accounts for 11.5% of XRP&rsquo,s 24-hour trading volume, or about $33 million.
Ter today&rsquo,s trading, the Bitcoin price stood at $6,682.90, spil of Ten:56 BST. The digital currency has lost 0.9% of its value ter the past 24 hours.