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Bitcoin Tumbles over 6% caused by South Korea Exchange Hack


Bad day for the cryptoworld

Bitcoin have drop on value by 6% on Sundays as S.Korean cryptocurrency exchange Coinrail announced there was a hacking attempt (cyber intrusion) in its own system.

The largest cryptocurrency declined 5.1 percent to $7,242 as of 5:28pm Hong Kong time, the biggest drop since May 23, according to data compiled by Bloomberg from Bitstamp pricing. That widens Bitcoin’s losses for the year to 48 percent. Peer cryptocurrencies Ethereum and Ripple fell at least 6.2 percent.

However I believe that will recover fast as bulls will get all that cheap BTC right away :)