Bitcoin Slides Amid South Korean Exchange Hack

Bitcoin and cryptocurrencies continue to slide third day and one of the reason is cyber attack on as South Korean cryptocurrency exchange Coinrail, via Bloomberg. According to the news:

Coinrail trades more than 50 cryptocurrencies and is one of the top 100 crypto exchanges in the world. Coinrail said in a statement on its website that it’s reviewing its system due to hacking attempts. The exchange says it has managed to freeze all exposed NPXS, NPER and ATX coins, and that other cryptocurrencies are now being kept in a cold wallet.

As a result, Bitcoin and most of the cryptocurrencies including Ethereum and Ripple fell at leat 6% or more. Some of the cryptocurrencies have hit hard and even fell more than 15% - 20%.

Crypto market continues to slide this year from its peak in Dec last year when Bitcoin hit its peak when it was $19,302. Today, Bitcoin is trading around $7,200 on various exchanges, that is less than 40% from its peak.