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  • Business - Market Data
  • Updated: August 19, 2021

Bitcoin Stays Above $44k Despite Japan's Liquid Exchange Hack

Bitcoin Stays Above $44k Despite Japan's Liquid Exchange Hac

On Thursday, Bitcoin stayed above $44,000 even after Japan’s Liquid exchange said a hacker had taken off with millions of dollars in crypto during Asia’s trading hours.

The world’s largest cryptocurrency by market capitalization is down 2% on the day after reaching a 24-hour high of around $45,986 according to data from Coindesk. At press time, bitcoin was changing hands for around $44,400.

According to a tweet on Thursday, Liquid exchange said its warm wallets were compromised and that it was consequently moving digital assets offline.

While the total amount stolen is yet to be determined, The Block reported Thursday the value of bitcoin, ether, XRP, and Tron could be upwards of $74 million.

According to the Ethereum block explorer, millions of ERC20 altcoins have also been taken including uniswap, rfox, and enjincoin, among others.

"We are currently investigating and will provide regular updates," the exchange said. "In the meantime, deposits and withdrawals will be suspended."

Bitcoin has fallen squarely back below the 200-day moving average, invalidating a prior break out, witnessed Aug. 13. However, the market seems unbothered by the news of the hack as price movement is little changed.

btc chartOn-chain indicators point to bitcoin holding above that level, at least in the short-term, as so-called smart-money flows out of exchanges continue to reign supreme, according to data from Glassnode.

 

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