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Bitcoin since the beginning of the year fell in price by more than 50%

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Last Sunday, the crypto-currency market recorded a fall in the value of digital assets. The price of Bitcoin fell below $ 7000 and reached a low of $ 6765.54 per unit. The fall in value was 12%, while the market capitalization of the crypto currency fell by $ 42 billion. Compared to the beginning of this year, Bitcoin's crypto currency lost more than half of its value, a drop of 53%.

We will add, such situation was observed and concerning other known криптовалют. The decrease in their value exceeded 10%. As a result, the aggregate market capitalization of the Crypto currency decreased to $ 298 billion. In January, the figure was $ 830 billion.

This situation in the market of crypto-currencies was provoked by several factors, the effect of which overlapped and provoked such a significant reduction in the value of digital assets. So, in South Korea, a hacker attack on the Coinrail exchange was fixed. As a result of cyberattacks, the exchange lost some of the funds in the altcoyins. According to some reports, the total cost of lost funds may be about $ 40 million, although Coinrail itself does not name any figures. However, it is noted that 70% of all assets available to the exchange are stored in so-called "cold wallets", to which there is no access from the Internet. The Korean police have already begun investigating the incident. According to available data, about 2/3 of the stolen assets (coins NPXS, NPER and ATX) have been frozen or collected, and for the remaining third of the stolen funds, an investigation is still being carried out with the involvement of investigators, other stock exchanges and companies engaged in the development of crypto-currencies.

Note, Coinrail is by no means the largest and most famous exchange, although it is on the list of 100 most active trading floors. However, news of the theft of money from this site appears to have become the straw that broke the camel's back. Even before this information, a lot of other negative information about the crypto-currencies has accumulated.

For example, there are fears in the market due to the ban on the operation of trading platforms in China. In addition, the exchange of crypto-currencies has recently come to the forefront of many regulators in a number of countries. The centers of trade in crypto-currencies attracted regulators attention due to the theft of digital assets, suspicions of market manipulation and money laundering.

Source: https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack

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