Buy the FUD: Mainstream Media Convinced Coinrail Hack Caused Crypto Price Plunge
Cointelegraph
Published Jun 11, 2018 07:31AM ET
Updated Jun 11, 2018 10:02AM ET
Buy the FUD: Mainstream Media Convinced Coinrail Hack Caused Crypto Price Plunge
Cryptocurrency users are venting frustration June 11 after mainstream media outlets reported the crypto market had fallen namely due to the hacking of a small South Korean exchange Coinrail.
As both Bitcoin and altcoins fell June 10, sources including Bloomberg, the Wall Street Journal (WSJ), Reuters, the Guardian and others claimed that Coinrail’s hack – which local media reported as causing $37 mln in losses – had crashed markets. The exchange confirmed the “cyber intrusion” in a tweet Sunday, and in a post on its site, but has yet to specify the value of losses.
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Written By: Cointelegraph
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