Bitcoin Trades Sideways, Chainalysis Makes Forbes List And Japan Sees Another Crypto Hack — The Crypto2Cash Chronicle
The weekend has brought some interesting crypto news. Make sure to not miss out on any of it with our daily Crypto2Cash Chronicle.
Bitcoin Trades Sideways
The largest cryptocurrency has seen a fairly uneventful weekend. On Saturday Bitcoin continued it’s upwards movement, shortly rising above the $11,000 mark. However it couldn’t hold these high levels and slowly sunk again on Sunday. Currently the price is sitting at $10,440, down 1 percent on the day. Most Alt-Coins saw a similar price pattern to Bitcoin, often down between1 and 4 percent. Binance Coin was the top performer of the last 24 hours, up 2.32%, further securing it’s place as 6th largest cryptocurrency by total market cap.
Chainalysis Makes Forbes List
Blockchain analytics firm Chainalysis has made the Forbes “next billion dollar start-up” list. Chainalysis was one of twenty four tech companies appearing on the list and was the only crypto related company, that made it. The start up was founded in 2014 as a way to try and locate the stolen funds from the infamous Mt.Gox hack and has since then developed to become the most important crypto compliance and investigation provider. The company is currently working together with many banks and large institutions and it’s continuing growth is not expected to slow down soon.
Japan Sees Another Crypto Hack
Bitpoint, one of the larger Japanese crypto exchange, has recently been hacked and saw around $30 million in various cryptocurrencies stolen from it’s hot wallets. The exchange admitted, that around 50 percent of all customer accounts, so over 50'000 people, are in some form affected by the hack. According to Cryptovest, Bitpoint already was on special notice by the national oversight body to improve “internal controls”. The past has often seen exchanges shut down after these type of hacks and cybercriminals remain one of the largest problems in the still young crypto industry.
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