Crypto prices drift downwards on Friday

Posted 22 June, 2018

On the Bitfinex, Bitcoin was quoted at $6,358, by some 6% down d-o-d. At the same time, Ethereum on this platform collapsed by more than 10% to $485. Ripple and Litecoin changed hands at some 0.50650 and 88.950 respectively. For now, the market capitalization decreased to $269 billion ($288 billion earlier).

Over the past few weeks, the prices for cryptocurrencies tried to go up given the price manipulation case, unscalability and security issues. 

Meanwhile, in South Korea, Bithumb that was hacked recently, will not receive an insurance payout. According to the media, the hack is considered as "property damage" and is not subject to the insurance certificate. Notably, this platform spends the largest amount for the insurance – some $5.4 million.

According to the reports, the security on the exchange platforms is still one of the key weaknesses. Specifically, Coinrail was hacked just in two weeks before Bithumb and lost $37.2 million.

At the same time, as it was stated ealeir, the Central Bank of South Korea stood against the concept of the national cryptocurrency, citing possible threat and damage to the markets.

“It’s desirable that the BOK is the only entity to entirely control issuing money,” the central bank said in a report. 

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22 June, 2018 16:55

← Zcash developer claims money threatening with blockchain split

Just before the release of the update, one of the software developers for Windows Zcash wallet has posted claiming for the compensation otherwise he may split the network. D. Jane Mercer started working on the project last year and lived off developer fees and donations for his work, though for now he has run out of money and worked in fact for free.

Zcash developer claims money threatening with blockchain split

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22 June, 2018 14:07

Tencent and Beijing to jointly stand against blockchain crimes →

The leading telecom company – Tencent – has reportedly announced a cooperation with Chinese authorities in the sphere of blockchain security in the country. The vice president of Tencent proclaimed at the China Blockchain Security Forum a creation of the China Blockchain Security Alliance. The new team will reportedly deal with security issues while using blockchain technology. 

Tencent and Beijing to jointly stand against blockchain crimes
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