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Bithumb hacked this morning


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They say company will cover stollen coins worth ~35 M USD but who knows? As of now all fiat/crypto deposit/withdrawl service is blocked.

Still trade service is available though and actually XRP is trading quite cheaper than other exchanges for obvious reason.

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If $35 M is true, I think they will cover that. Bithumb made really a lot of money last winter. $35 M is nothing to them. But question is, is it really $35 M?

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2 hours ago, Mods_are_tyrants said:

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

Yeah that's what the charts seem to say. Another 3 weeks or so of overall downside then hopefully a major bounce, if not the bottom.

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5 hours 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.

Actually it does, but it gets covered up and normally the bank pays up.

 

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1 hour ago, djdhrubs said:

Yeah that's what the charts seem to say. Another 3 weeks or so of overall downside then hopefully a major bounce, if not the bottom.

Major bounce is hard to come by in mid-Summer. People will be on vacations, it will be hard to get attention from retail investors and the volume will be even lower until mid-September. I won't comment about the so-called institutional investors, I don't even know if they can survive as a species in the crypto habitat. Those creatures are easily scared, despite their gigantic size.

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6 hours 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! 

I agree.

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Don't forget ladies, they don't call this the Wild Wild West for nothing! 

There's a reason we are able to purchase these coins at a discount.... Once it becomes easy, worry free, and fudless.... time to sell!

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  • 1 month later...

Bithumb announced today it was ready to resume crypto transfer service for select coins (XRP included) from this Saturday. Also included is that sercvice for ridiculously-priced small cap coins will follow soon.

So I expect traders' interest at Bithumb will shift away from small cap coins back to large cap ones like XRP.

Here is their announcement (scroll down for English version) :

http://bithumb.cafe/archives/36780

 

Edited by Guest
Fixed service resume day.
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