Hacking attacks, digital currency market ushered in a plummet

According to TechCrunch, the Korean cryptocurrency exchange called Coinrail was attacked by hackers and lost more than $40 million worth of tokens. It is said that people who involved in the cryptocurrency market, woke up yesterday were like this:

It is said that the hacking attack has ushered in a plunge in the digital currency market! At around 12 o'clock in the evening on June 10, the BTC suddenly fluctuated, dramatically decreased nearly 400 US dollars, the lowest point fell to around 6,650 US dollars, a record low in the past 60 days. The total value of the digital currency market also fell 300 billion U.S. dollars. At the same time, the mainstream currencies fell as a whole; ripple fell 10%; BCH fell 9.68%; ETC fell 12.68; ETH fell 8.42%; EOS fell 21.42%; WICC fell 30.62%.

 
After the crash, the cryptocurrency market was in a panic. Many newbies have chosen to quit. While I personally think you are trapped if you do that. I think it’s a trap for the novices in the crypto market. Because there will be skyrocketing after the crash. Do not panic at this time, if you don't have time to open a position, you can wait for the callback to be a little less cash.

 
However, having mishap, having gain, after a round of cleansing, the boundary between the value currencies and the trash currencies is clearer. At this time, if you want to start to invest crypto currency, you must select the mainstream value currency rather than the currencies that you never heard of.

 
Through this incident, it is certain that hacking again strongly reminds people that the cryptocurrency sector remains unregulated. Unlike bank robbery or payment fraud, victims of hacking attacks on cryptocurrency transactions have little recourse.

So, those who buy Bitcoin, Ethereum, ripple coin or other cryptocurrencies should keep their tokens securely in their private wallets, rather than leaving them on exchanges that could be stolen. Statistics show that Coincheck lost about 400 million U.S. dollars earlier this year. In November last year Tether crypto claimed to have lost $31 million, while EtherDelta suspended trading services last December. All these show that while investing in virtual currency, its security is also a crucial issue.