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Bitcoin Tumbles Most in Two Weeks Amid South Korea Hack (bloomberg.com)

Posted by msmash on from the for-the-record dept.

Bitcoin extended losses for a third day, tumbling as much as 6 percent Sunday as South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system. From a report: The largest cryptocurrency declined 4.6 percent to $7,277 as of 10 a.m. 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 49 percent. Peer cryptocurrencies Ethereum and Ripple fell 5 percent and 6.6 percent, respectively.

2 of 87 comments (clear)

  1. No, few people are, thus dropping half its value by raymorris · · Score: 4, Insightful

    Nope, few people are buying Bitcoin anymore. That's why the value has dropped in half in the last six months.

  2. Re:In before by Gravis+Zero · · Score: 4, Insightful

    Forget claiming they are like tulips, cryptocurrencies are worse than tulips. You can plant a tulip and it can reproduce with no additional effort. Cryptocurrencies and their network have to be maintained with other resources. Not only that but 51% attacks actually happen so your cryptocurrency may just vanish one day.

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