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Bitcoin price crashes again after latest exchange hack

Bitcoin’s value has slipped once again, following the theft of more than $30 million worth of digital tokens from a cryptocurrency exchange.

Hackers managed to steal 35 billion won ($31.5 million) from South Korean exchange Bithumb this week, Reuters reports.

Read more: What is Bitcoin?

The company has reacted by moving all of its users’ assets to “cold storage”, and placing a temporary block on all withdrawals and deposits.

It isn’t yet clear who was behind the heist, but Bithumb has assured affected customers that they will be refunded.

Unsurprisingly, the value of Bitcoin has now fallen.

After passing the $6820 mark yesterday afternoon, it dropped down to below $6570 in the early hours of this morning, according to Coinbase. The cryptocurrency was worth $6622 at the time of publication.

Its value slumped to a seven-month low earlier this month, following news of a hack attack on Coinrail, another South Korean cryptocurrency exchange.

2018 hasn’t been a particularly good year for Bitcoin holders, with its value having fallen from more than $13,400 at the beginning of January. Just two weeks before that, it had been worth more than $19,200.

According to Coinmarketcap, 88 of the top 100 digital currencies by market capitalisation have declined in value over the past 24 hours.

Are you a Bitcoin holder? How disappointing has 2018 been, following the highs of last year? Share your experiences with us @TrustedReviews.

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