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, during the course of the day, the price of Bitcoin steadily dropped until mid-afternoon eastern standard time, when the currency’s value suddenly plummeted. This decline period was most likely due to Bitfinex announcing their security had been breached, resulting in stolen customer funds. The exchange immediately halted all services and posted this announcement on their website:
https://news.bitcoin.com/bitfinex-hack-bitcoin/
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jamie.redman1
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