Bitcoin was at a four-day low on Tuesday, as cryptocurrencies slumped and news surfaced of another security breach on a token platform.
Bitcoin was trading at $6,371.60, falling 5.56% on the Bitfinex exchange, as of 7:45 AM ET (11:45 GMT). Bitcoin has struggled to gain ground in recent months, falling nearly 70% since its peak of almost $20,000 in December.
Israeli start-up Bancor lost $13.5 million digital coins on Monday. A wallet on its network was compromised, leading to a loss of $12.5 million worth of ethereum and $1 million of a lesser-known token called Pundi X.
The company tweeted that no user wallets had been compromised in the attack.
It’s the latest of a number of breaches this year. Security breaches are one of the biggest threats to digital coin exchanges.
Ethereum fell 12.19% to $430.70 on the Bitfinex exchange after the news.
Cryptocurrencies overall were lower, with the coin market cap of total market capitalization down at $253 billion at the time of writing compared to $273 billion on Monday. Ripple, the third largest virtual currency, decreased 7.2% to $0.44576 while Litecoin was at $75.295, down 9.52%.
In regulation news, the U.S. Financial Industry Regulatory Authority wants all firms and brokers that sell securities to register.
The notice, issued on Friday, advises firms should be licensed and registered with FINRA, in addition to the U.S. Securities and Exchange Commision. The nonprofit organization is authorized by the U.S. Congress to make sure the broker-dealer industry operates fairly.
“FINRA is issuing this notice to encourage each firm to promptly notify FINRA if it, or its associated persons or affiliates, currently engages, or intends to engage, in any activities related to digital assets, such as cryptocurrencies and other virtual coins and tokens,” the notice said.