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Bitcoin sinks to two-month low as downtrend persists - 8 months ago, 13 June 09:24

By: Reuters

Bitcoin fell to a two-month low on Tuesday, sliding in three of the last four sessions on nagging regulatory and security concerns after the weekend hacking of South Korean cryptocurrency exchange Coinrail.

The original virtual currency is nearing its lowest level of the year of just under $6,000 BTC=BTSP on the Bitstamp platform. It fell to a low of below $6,500 and last traded down 4.7 percent at $6,551.48.

So far in 2018, bitcoin is down nearly 53 per cent, after soaring more than 1,300 per cent last year.

On Sunday, Coinrail, a relatively small cryptocurrency exchange in South Korea, said its system was hit by “cyber intrusion,” causing a loss of about 30 percent of the coins traded on the exchange. It did not quantify its value, but local news outlet Yonhap news estimated in an unsourced report that about 40 billion won ($37.28 million) worth of virtual coins were stolen.

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