Bitcoin And Altcoins Get Dumped in Early morning
In the early morning, a tweet come from Bithumb official account that hackers have stolen cryptocurrency worth $30 million that is a very big amount. After this news FUD started in market and in little time bitcoins and altcoins get dumped.
Bitcoin was dumped from 6750$ to 6580$ in previous 4 hours and altcoins have also suffered by this attack.
What To Do Now??
Bithumb have also tweeted after some time that your funds will be covered by them. Their team are transferring the balance to cold wallet so for little time dont trade on bithumb. As volume was thrased from the market and fud have come in market, cryptocurrency get suffered.
This is only a FUD so you dont have to worry about market. Market will jump in no time after bithumb tweet that they have done all the process.
This is what we know:
- $30,000,000 in funds have been stolen
- Bithumb has said all losses will be compensated
- All assets have been moved to cold wallet
- Deposits/withdrawals have been halted
Generally, in Computer Sciences, only a very specific class of algorithms are considered "secure". Complex systems are never 100% secure and hacks is something we'll see happening from time to time.
What is important is that exchanges have procedures to diminish losses and compensate for the losses.
Personally, I wouldn't take the risk of shorting BTC at this point!
Hacking of Bithumb was really effect the market but it will recover soon.
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Don't panic.
I guess they are switching their wallet ...
Yes!!!
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yes do not panic hold your coins the market go up soon
Shorting btc is good but for risktakers only I hope market will soon recover soon from this FUD.
That's why we need decentralized exchange . I know binance is working hard to build decentralized exchange .
Hope evryones fund is safe over dere...according to the news dey have moved funds to cold storage and its safe now...wen evr bitcoins tries to stable sme FUD comes into play and price declines but in long term i hope it will soon touch 25K
Yes!! I have mentioned it as that what only to create fud and now bitcoin is trading on 6750$.