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Businessweek

Cormac Mullen

Bitcoin’s Sunday Slump Sparked by Hack

Bitcoin’s tumultuous year continued over the weekend as South Korean cryptocurrency exchange Coinrail said there was a “cyber intrusion” in its system, and an unknown quantity of digital currency appeared to have been stolen. The cryptocurrency slumped by more than 13 percent Sunday, the biggest intraday drop since February 6, according to data compiled by Bloomberg from Bitstamp pricing. That brings Bitcoin’s losses for the year to about 52 percent.

To contact the author of this story: Cormac Mullen in Tokyo at cmullen9@bloomberg.net

To contact the editor responsible for this story: Matt Turner at mturner107@bloomberg.net, Chris Anstey

©2018 Bloomberg L.P.

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