Bitcoins stolen after cryptocurrency site NiceHash hacked

Dec 08, 2017, 01:41
Bitcoins stolen after cryptocurrency site NiceHash hacked

At 1:35 p.m. EST, Bitcoin was valued at $17,032, according to Coinbase, after briefly surging above $19,000 Thursday morning.

That said, there are often significant price differentials on different bitcoin exchanges.

The price of bitcoin swung wildly Thursday, rising to more than $19,000 only to fall sharply within minutes, as the frenzy surrounding the virtual currency escalated just days before it starts trading on a major USA exchange for the first time. On Thursday afternoon the ASX 200 was 0.54 percent higher while the Shanghai Composite and South Korea's Kospi were both lower.

Bitfinex, a Hong Kong-based bitcoin exchange, was briefly shut down a year ago after hackers stole almost 120,000 bitcoins - worth more than $65 million at the time. The dollar was trading at $1.3365, a 0.20 percent decline.

The frenzy even has parts of Wall Street concerned. At Thursday's record price of about $15,000, that would put the value at over $70 million.

It wasn't immediately clear whether funds had been taken from NiceHash users' accounts as well. Chicago-based CBOE Global Markets is planning to launch bitcoin futures on Sunday, while the world's largest futures exchange, CME, is set to launch its futures product the following week.

Blockchain is the ledger software that makes bitcoin and other cryptocurrencies possible, and Digital Asset Holdings LLC, the startup run by former JPMorgan Chase & Co. banker Blythe Masters, will supply the technology.

"Bitcoin continues to have a strong bid during Asia trading as emerging market currencies are being sold to buy, pushing us above another milestone", Spallanzani said in a Twitter direct message soon after bitcoin broke $12,000. Such currencies are not tied to a bank or government and allow users to spend money anonymously. Some say they serve merely to facilitate money laundering and illicit, anonymous payments.

Online security is a vital concern for such dealings. That prevents cheaters from spending the same digital coin twice. In Japan, following the failure of a bitcoin exchange called Mt. Gox, new laws were enacted to regulate bitcoin and other virtual currencies.

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