Are we becoming so used to hacks in the cryptocurrency sphere, that we no longer panic when they happen? It might seem so, considering Bitcoin’s price remains pretty-much unchanged despite a Zaif exchange hack last night.
Japan’s Zaif Exchange Hack
The cryptocurrency market took another hit last night when the Zaif exchange hack was announced. The heist resulted in the loss of close to 6,000 Bitcoin (BTC). MONA coin and Bitcoin Cash were also stolen. The entire stolen loot has an estimated worth of $60 million USD.
Cryptocurrency Prices aren’t Affected
Now you would imagine such a hack would see investors bolt for the crypto door, and Bitcoin price, characteristically, would drop significantly. But surprisingly, investors don’t seem to be fazed by the news.
According to Coinmarketcap.com, Bitcoin price has remained fairly unaffected; it did drop from $6,341 to $6,208, but it quickly paired these losses in the same hour, and in fact, is currently gaining 1.67% over the 24-hour period.
Altcoins are also largely unaffected by the hack. Ripple has been experiencing exciting gains this week, and it continues; today the coin is currently up another 17.04%. In fact, all the coins in the top ten are in the green!
It seems the bullish sentiment that is driving these gains won’t be trumped by another hacking.
The Zaif Exchange Hack
The Zaif exchange hack is Japan’s second exchange hack this year. Back in January, Coincheck lost more than $500 million worth of NEM tokens after they were stolen. In this case, the market reacted ferociously; coins across the market dropped significantly, and the country’s Financial Services Agency (FSA) launched security inspections on cryptocurrency exchanges in the country.
Zaif said in a press release: “it is estimated that the total loss due to the damage more than the current investigation is equivalent to about 6.7 billion yen (including MONA and BCH) in Japanese yen.”
Zaif reported $69.1 million in trading volume of the past 24 hours.
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