Home Cryptocurrency Bitcoin Bitcoin depreciated to a four-month low

Bitcoin depreciated to a four-month low


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Bitcoin depreciated to a four-month low of 6,370 USD, after several days ago, the South Korean Coinrail Trading Exchange reported that hackers had stolen crypto-currencies worth 37 million USD.

After Coinrail announced the theft, which is equivalent to nearly a third of the digital money traded on it, the price of the Bitcoin collapsed by 500 USD in just one hour and continued to decline.

“The attack again shows how small stockbrokers with low security standards are vulnerable”, said the statement of the Korean Block Industry Association.

This was also followed by a Wall Street Journal report that the US regulators have asked the crypto-currency trading exchanges to provide commercial data to help investigate virtual currency manipulations. The information has raised concerns about the future of the digital money market.

The Bitcoin market was relatively calm during the last two weeks, as in the past months the crypto-currencies often the subject of theft, market manipulation and money laundering.

Last year the Bitcoin rose sixfold and reached a record 19,783 USD in December. Earlier this year, however, it fell to about 6,000 USD.