Bitcoin swoons 10%, leading a broad cryptocurrency selloff

Bitcoin swoons 10%
Friday, 02 October 2015

  • Bitcoin tumbled 10 percent on Sunday to its lowest in two months, after a relatively small South Korean exchange said it was hacked.

    Over the weekend, crypto exchange Coinrail tweeted that it was hacked, and noted that lesser-known cryptocurrencies such as Pundi X were among those affected, according to Google Translate. The Pundi X-bitcoin pair is the most-traded on Coinrail, CoinMarketCap data showed.

    However, Coinrail's public statements did not mention bitcoin, according to Google Translate.

    Nevertheless, Bitcoin hit a low of $6,647.33, its lowest since April 9, according to CoinDesk's bitcoin price index, and coincided with a broader crypto sell-off. The largest cryptocurrency by market capitalization remains about 50 percent lower for the year so far.

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