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Bithumb hacked this morning


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5 minutes ago, manateehunter said:

Well that explains the dip...

I have been expecting BTC to slide into the $5k USD range and drag down everyone with it. The SEC statement jumbled the timeline but even if this is just a smoke screen it could get things back on pace. May sound like a bummer but right now the sooner BTC hits bottom the sooner we can be done with this multi-month slow bleed.

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1 minute ago, Scott said:

I have been expecting BTC to slide into the $5k USD range and drag down everyone with it. The SEC statement jumbled the timeline but even if this is just a smoke screen it could get things back on pace. May sound like a bummer but right now the sooner BTC hits bottom the sooner we can be done with this multi-month slow bleed.

I kinda think this is a good thing. The sooner people learn to keep things in private storage and off the exchanges the better the whole ecosystem will be. I think BTC has bottomed out for the time being, though I'm not one to predict things successfully.

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25 minutes ago, manateehunter said:

I kinda think this is a good thing. The sooner people learn to keep things in private storage and off the exchanges the better the whole ecosystem will be. I think BTC has bottomed out for the time being, though I'm not one to predict things successfully.

How does it increase in price then? I think it breaks 5900 before it sees 8000.

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I suspect Bithumb was already hacked last Saturday morning when they suddenly stopped all crypto trading and transfer services.

Since last Saturday coins were traded at lower price than usual at Bithumb. Volume was strangely low as well.

My instinct told me something strange was going on over there.

I was nervous as my XRPs were transfered to Bithumb for trade last week from my nano S. Over the weekend and Monday I kept calling them to ask when the service would come back. Trading service came back after ~10 hours, much later than schedule, but transfer service is still unavailable.

It seemed so suspicious that last night  I sold every XRPs I owned (~1/4 of my portfolio) near day high.

And this morning they confessed they had been hacked...

So in some sense hack effect already started since last Saturday considering Bithumb's influence on market due to its size.

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35 minutes ago, manateehunter said:

TA guy I am not, I just feel/hope the bears are leaving the playground.

As much as a rising and decoupled XRP is a personal win and long term belief, I’ve seen nothing to indicate the downtrend is done. I have buy orders waiting at valuations significantly lower than where things stand now.

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1 hour ago, Mods_are_tyrants said:

The problem is it is another HACK how can institutions come to the space when (hacker bob) can come and steal your money. This doesn't happen in traditional investing! 

Just another black eye for the cutting edge crypto market. I don't see how the market doesn't fall after this.

That's what regulations and custodial accounts are for. 

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I’m so incredibly tired of the constant bad news. It seems at least twice a week, something happens, or is revealed to have happened. The market doesn’t have time to recover from one thing before another things hits. These exchanges need to get their doo doo together. I know no defense is foolproof but the rate at which these exchanges is hacked is deplorable. I guess the one good thing is that these exchanges have made sure the customers’ funds are “reimbursed,” for lack of a better word. Of course, you lose key trading opportunities, possibly, while your money is in limbo and the exchange is temporarily shut down...

I pray tonight as I lay down my little head, that every crypto hacker is caught and impaled Roman-style, on a splintery, non-greased, ten foot pole. 

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