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Offbeat Bitcoin hits 4-month low after currency exchange theft

18:05  13 june  2018
18:05  13 june  2018 Source:   msn.com

Bitcoin tumbles as hackers hit S. Korean exchange Coinrail

  Bitcoin tumbles as hackers hit S. Korean exchange Coinrail South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset. In a statement on its website on Monday, Coinrail said its system was hit by "cyber intrusion" on Sunday, causing a loss for about 30 percent of the coins traded on the exchange. It did not quantify its value, but in an unsourced report local news outlet Yonhap news estimated that about 40 billion won ($37.28 million) worth of virtual coins were stolen.

The value of bitcoin and many other digital currencies fell to their lowest levels this year after South Korean exchange Coinrail said a hack over the weekend Simona Halep hits back to sink Angelique Kerber in quarter-finals. India's GDP grows 7.7 pc in Q 4 , retains fastest growing economy tag.

Bitcoin 's value has dropped to 2- month lows after news a cryptocurrency exchange was hacked. If true, that would make it the biggest cryptocurrency theft reported to date in South Korea. WATCH: Tips to avoid bitcoin scams.

The price of bitcoin has fallen to a four-month low of $6,370, days after South Korean virtual currency exchange Coinrail said hackers had stolen over $37 million, or almost a third of the virtual currency it had stored.

After Coinrail announced the theft, the price of bitcoin dropped $500 in an hour and it has continued to slide.

The decline also follows a Wall Street Journal report that U.S. regulators have asked virtual currency exchanges to provide trading data to aid an investigation into virtual currency manipulation. The reports raised concerns about the future of virtual currency markets.

David Jones, Capital.com's chief market strategist, says Bitcoin is "a classic case of an economic bubble." Last year, the virtual currency increased sixfold and hit a record high of $19,783 in December.

Man accused of trying to hire hit man, buy lethal radioactive material .
A 26-year-old North Carolina man is accused of using the internet to try to hire a hit man and also trying to purchase a lethal dose of a radioactive material, according to a release from the U.S. attorney’s office. FBI agents said Bryant Riyanto Budi, of Matthews, contacted a Homeland Security Investigations undercover agent in Buffalo, New York, via the internet to set up a murder-for-hire. Budi used online usernames, encrypted messaging platforms and encrypted email services to disguise his identity from the undercover agent during communication with him in April and May, the FBI said.

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