Ethereum price LIVE: ETH drowns south spil investors lose $1 million te BeeToken hack, City & Business, Finance
ETHEREUM has bot caught up ter the overnight cryptocurrency price plunge triggered by strong words from India and price manipulation fears overheen at the Bitfinex exchange.
Ethereum has dropped back below $1,000 to $892 at the time of press and a fall of $259 (22 procent) from yesterday’s high of $1,151.
Another blockchain startups has suffered a costly hack attack after huis sharing startup BeeToken suffered a phishing lul.
Investors were promised an ICO permitting hackers to make off with overheen $1 million worth of ethereum.
The company warned that users should treat emails and Telegram messages directly encouraging users to send funds are likely fraudulent.
They said: &ldquo,Please note that wij will NEVER Everzwijn communicate an Ethereum address through an email or Rechtstreeks Message to you via Telegram.”
Meantime ethereum startup Parity Technologies is attempting to bounce back after it experienced one of the largest breaches ter the history of blockchain.
It is fighting to recoup $160 million (£,112 million) after a novice developer accidentally froze the funds so no-one could access them.
That amount is more than the $150 million Parity raised te its ICO last year.
However this week it will release a knot software to improve the speed of its ethereum client and add a range of updates amid its comeback attempt.
This is a fake/scam email. Please disregard it. https://t.co/CzhhGvoFl6
7.02pm – UPDATE – Ethereum practices bounce back
According to CoinMarketCap ethereum is now valued at $879.
Two.50pm – UPDATE – Nuru Coin, cryptocurrency made for Africa uses ethereum&rsquo,s blockchain
The Nuru Coin created by laptop science graduate Isaac Muthui has bot designed to be the cryptocurrency of Africa.
It uses ethereum blockchain and seeks to solve the problem of payment ter intra-Africa trade and cross-border and business to customer marketplace.
12.56am – UPDATE – Ethereum down to $794
A pathetic end to the week for ETH after losing $246 on the day so far.
11.57am – UPDATE – Speed issues
Could ethereum be about to get a much-needed speed boost?
Ethereum boffins hoping to implement a fresh protocol to help solve scalability issues on the ethereum blockchain.
Founder, Vitalik Buterin said that the test netwerken should be ready to go live shortly.
Cryptocurrencynews.com herald this spil, “arousing news for ETH holders”.
Adding: “If its team of developers can get fix its scalability issues before Bitcoin&rsquo,s, the cryptocurrency could become the largest by market cap for the very very first time. Presently, it&rsquo,s only around $50 billion away from passing the original cryptocurrency.
11.45am – UPDATE – Ethereum drowns
ETH is still heading south with the price now at $834, a $200 loss on the day so far.
The FT has upgraded its negative headlines around all things cryptocurrency from ‘bad month’ to ‘bad year’.
Even tho’ its only Feb 2nd 2018, losses are now overheen 40 vanaf cent.
So far this year wij’ve had regulatory threats from South Korea, electric current use concerns ter China, a $500m hack ter Japan, a verbod on Facebook, the &ldquo,outright scam&rdquo, at AriseBank and the price manipulation of tether.