BITCOIN appears to be back on the rise today, as recent charts show a steady increase across most cryptocurrencies. The market is working to recover after the digital token saw a sharp drop among several hacks in South Korea. Will BTC recover?
Bitcoin has jumped up 0.67 percent to trade at $6,787.78 as of 7.30pm.
In a statement after the hack, Bithumb said: “We checked that some of the cryptocurrencies valued about $30,000,000 were stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of the assets are being transferred to a cold wallet," the platform wrote in the official Twitter account.”
Bitcoin traders lost a significant amount of faith this weekend after news emerged a South Korean cryptocurrency exchange had been hacked.
The exchange did not reveal how much was stolen by hackers, adding that 70 percent of the cryptocurrencies were being safely held in a cold wallet kept separate from the internet and the threat of theft.