On April 16, the world’s leading cryptocurrency Bitcoin (BTC) plunged to the point where it could barely maintain $7,000 at several digital currency exchanges such as Upbit, Binance, BitMEX Bithumb and many others. Stock markets globally are also showing weakness.
On April 15, Bitcoin (BTC) showed a steady trend, recording over $6900 on several cryptocurrency exchanges such as Upbit, Binance, Bithumb and others. On the same day, the overseas stock markets increased sharply.
Bithumb, a South Korean cryptocurrency exchange revealed that hackers stole $31.5 worth of virtual coins, the second local crypto platform targeted within one week as cyber thieves showed the huge negative outcomes of selling and purchasing the digital asset. Bithumb trades over 37 different coins.
Cryptocurrency exchanges in South Korea have set up rules to lift and increase transparency of deals and reduce money laundering, terrorism financing, insider trading and many other deals that have slowed down the growth of blockchain technology in the country. This group of exchange platform include the likes of Upbit, OkCoin, Bithumb, among others.