• Whale alert bot registered a series of suspicious transactions on Bittrex.
  • The community suspects that the exchange might have been hacked.

Another wave of large transactions spooks cryptocurrency community. An anonymous user of Bittrex seems to have transferred a large number of Status coins and Power Ledger coins from the exchange to unknown wallet. The total value of the transactions amounted to $9,350,000 at the effective exchange rate, which is significant for a withdraw order. 

A twitter-bot Whale Alert registered the suspicious activity and published the information about the large transactions. This development triggered extensive discussions on Reddit, where users suggested that the exchange fell victim to a hack attack. The fact that the coins were transferred to the address containing over 100 different cryptocurrencies worth of $23.5M added credibility to the hack theory. 

However, these allegations are not proved yet. The representatives of cryptocurrency exchange Bittrex have not clarified the situation so far.

Meanwhile, the market is jittery due to the recent hack attack on a New Zealand cryptocurrency exchange Cryptopia that happened on January 14. Due to a relatively small daily trading volume of Cryptopia, the offense did not affect the market sentiments. Currently, the New Zealand police investigate the incident.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD rising wedge pattern reaction risks breakdown to $9,400

Bitcoin’s spectacular movement to levels slightly below $11,000 has astonishingly hit the pause button. As discussed yesterday, the weekend session was enviable with Bitcoin breaking above the 50 Simple Moving Average (SMA) and the 100 SMA one-hour.

More Bitcoin News

Ripple price analysis: XRP/USD smashes through $0.2750 support

Ripple bears have returned in the market, this time with a precise intention; to revenge. This comes after a failed attempt to sustain gains above $0.2900. Following remarkable movement from the acute declines experienced last week, a high was formed at $0.2928.

More Ripple News

Ethereum market update: ETH/USD retreating as $205 remains unconquered

Ethereum formidable move from last week’s lows smashed through $200 hurdle. However, the failure to break above $205 allowed the sellers an easy-takeover. For this reason, Ethereum is retreating below $200 (failed support).

More Ethereum News

Ethereum Classic price analysis: ETH/USD soars 5% in a bearish market

Ethereum Classic is visibly the leading cryptocurrency among the top 20 cryptos. The $661 million crypto soared massively on Tuesday. The gains brighten the crypto market that is already a sea of red.

More Ethereum Classic News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP