Market Update 9.20.18 – Zaif Hacked, $60 Million Stolen

| Publish date: 09/20/2018
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Zaif Hacked, $60 Million Stolen

The Japanese licensed cryptocurrency exchange, Zaif was hacked, with about ¥6.7 billion (~$60 million) in cryptocurrencies, including 5,966 BTC being stolen. Zaif is operated by the Tech Bureau, which has stated that it had first noticed an unusual outflow of crypto funds from the platform at about 17:00 local time on September 14. At this point the exchange suspended all deposit and withdrawal services.

When the company investigated the activities, it found that hackers had managed to get away with about $60 million worth of Bitcoin Cash, MonaCoin and Bitcoin. Currently, the amount of BCH stolen is not known.

Read more about this story here.

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Bitcoin Core Fixes Software Vulnerability

Bitcoin Core released a new software update after its developers recently detected a vulnerability in its coding. The update, Bitcoin Core 0.16.3 was released as a fix to a DoS (Denial of Service) vulnerability. According to the press release, this vulnerability could crash some of the older versions of Bitcoin Core if an attempt was made to process a block transaction of the same amount two times.

The explanation given was that such blocks could only be created by miners since these transactions were actually invalid. However, to do so, the miner would have to “burn” or destroy a minimum of 12.5 BTC, currently worth $80,000, in order to create such a block.

Read more details here.

NYU First University in US to Offer Major in Blockchain Tech

The New York University (NYU) has become the first university in the United States to offer a major in the new Blockchain technology. This program will be offered to NYU students by the Stern School of Business.

Stern has also been a pioneer in offering its students undergraduate courses in both Blockchain as well as cryptocurrencies. Stern’s Professor Andrew Hinkes stated that NYU was hoping to establish a foundation so that students could really understand the technology, its legal and business implications and also prepare to enter this new market.

Read the rest of the details here.

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Total Market Cap: Sep 20

Trading volumes have fallen by $0.51 billion to $12.30 billion. The market’s capitalization has risen by $0.62 billion to $199.91 billion.

Bitcoin Price Analysis: Sep 20

Bitcoin’s price is $6407.66, raising by 0.83% since yesterday. Bitcoin’s market capitalization is $110.73 billion and volumes are currently at $4.30 billion.

Ethereum Price Analysis: Sep 20

Ethereum’s trading price is $208.40, falling 1.46% since yesterday. The value of Ethereum is $21.25 billion and volumes in trade are $1.69 billion.

State of the Top 10 Cryptocurrencies: Sep 20

The cryptocurrency market is currently showing mixed results, with about 40% of the top ten cryptos in the green and the other 60% in the red. With the exception of Cardano, which is currently the highest performer in terms of percentage increase at 3.78%, all other gains are marginal. Cardano also replaced Monero as the number 9 cryptocurrency in the top ten list.

  • Bitcoin’s current price is $6407.66, going up 0.83%. The value of the crypto is $110.73 billion.
  • Ethereum’s current price is $208.40%, going down 1.46%. The value of the crypto is $21.25 billion.
  • Ripple’s current price is $0.324266, going down 1.89%. The value of the crypto is $12.90 billion.
  • Bitcoin Cash’s current price is $425.58, going down 2.45%. The value of the crypto is $7.38 billion.
  • EOS’s current price is $5.22, going up 2.03%. The value of the crypto is $4.73 billion.
  • Stellar’s current price is $0.206460, going down 0.76%. The value of the crypto is $3.87 billion.
  • Litecoin’s current price is $53.90, going down 0.49%. The value of the crypto is $3.14 billion.
  • Tether’s current price is $1, going up 0.07%. The value of the crypto is $2.76 billion.
  • Cardano’s current price is $0.072029, going down 3.78%. The value of the crypto is $1.83 billion.
  • Monero’s current price is $111.88, going up 0.69%. The value of the crypto is $1.83 billion.
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