Post
Topic
Board Bitcoin Discussion
Re: Billions stolen from South Korean Bitcoin exchange
by
olubams
on 04/07/2017, 14:39:01 UTC
Bithumb, the fourth largest Bitcoin exchange in the world was recently hacked resulting in Billions of Won being stolen.

Read more: https://blog.coinspectator.com/2017/07/04/billions-stolen-from-south-korean-bitcoin-exchange/

If this would cause the damage as being proclaimed here then everyone would have felt it because massive stealing will go along way in affecting the price of bitcoin in the market.

1,000,000,000 Won = $875,853.23 = ~330BTC

this is not even in the top 20 exchange hacks in the history of bitcoin Grin
this is more like the amount that some whales lose if they have a bad trading day...

Thank you for this analysis because using Won to judge would mean a lot of money but converting it shows that its a bucket from a pool of water and this actually give credence to the neutral effect it has on price. This amount is close to what failed ICO would raise in a case of crowd funding. But at the same time there is need for sites to be more security conscious of whatever is going around.