Bitcoin Price Rolls Past $650 to New Highs Since Bitfinex Hack
Bitcoin price has made increasing gains since the beginning of October, scaling back to the ceiling achieved toward the end of July, prior to the Bitfinex hack that sent prices crashing after a theft of approximately $72 million USD in bitcoin at the time. At the time of publishing, the Coinbase price chart shows bitcoin trading at $664.68. The number is easily indicative of a 3-month high, for the cryptocurrency. As has been the trend in recent times, market speculators point to the devaluation of the Chinese Yuan as the driving factor for Chinese investors to choose bitcoin, instead of a....
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The price of Bitcoin has dropped quite a bit over the past 24 hours with the USD value plummeting to $480 per bitcoin. The price has partially rebounded however, hovering around $540 at press time. Meanwhile, much of the blame is being pointed at the compromised Hong Kong-based exchange Bitfinex. Bitfinex Breach Shakes Up The Community. On August 2nd,....
On August 2, 2016, it has been reported that the major cryptocurrency exchange, Bitfinex, was hacked with some customers losing Bitcoin as a result. Additionally, BitGo has commented on the event. The Breach of Bitfinex. Bitfinex itself confirmed the hack in a press release earlier today, saying they have halted all trading on the platform. Additionally, all deposits to and withdrawals from Bitfinex have been temporarily stopped. The exchange does not have much information about the hack, but the press release confirmed that customers of the exchange have lost Bitcoin following the breach.....
On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses. On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay....
BitGo has declared that its systems were not breached, and its software functioned correctly during the Bitfinex hack. Co-founder and CEO at BitGo, Mike Belshe, wrote on the company’s blog saying: Our job is to protect your Bitcoin and continue to improve the security of the service. BitGo systems were not breached in this attack and our software functioned correctly. This may seem like an inadequate explanation, because everyone wants to know “what needs to change to avoid what happened in this case,” and we understand that. Fortunately, the Bitfinex configuration was unique and other....
The U.S. Department of Justice (DOJ) has announced the seizure of 94,636 bitcoins directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex. This is the DOJ’s “largest cryptocurrency seizure to date.” In addition, two people have been arrested in connection with the hack and stolen cryptocurrency. Bitfinex Hack’s Stolen Bitcoins Seized, 2 People Arrested The Department of Justice (DOJ) announced Tuesday that the U.S. government has seized stolen cryptocurrency directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex. According to....