By John Glenday

The valuation of Bitcoin’s has collapsed by 20 per cent following a major hack targeting Bitfinex, the cryptocurrency exchange, which saw $70m worth of Bitcoins stolen.

All trading was immediately halted and the platform taken offline when the security breach came to light but not before a reported 120,000 Bitcoins had been fleeced from users. If correct that figure would translate to around $77m at prices prior to the breach.

In a statement posted to their website Bitfinex said: “We are deeply concerned about this issue and we are committing every resource to try to resolve it. We ask for the community’s Read full story ›

Source: The Drum