Bithumb hacked for $31 million – June 20

Current Bitcoin Price: $6763 (as of 8:00 AM PST)

Over the last 24 hours, most cryptocurrencies are down a percent or two. Looking closer at the chart for Bitcoin, which is at an almost 0% change, you can see how the currency took a big hit yesterday (down more than $150) and has been recovering for the last few hours.

Both IOST (#49) and Ethereum Classic (#18) are doing well — up 13 and 5 percent respectively, while Bytecoin (#24) is down more than 5 percent.

Top Bitcoin & Crypto News Stories for 20th June 2018

Bithumb hacked for $31 million

Bithumb is one of the major Korean exchanges, with an average daily volume of over US $300 million.

Yesterday, a tweet confirmed that the exchange had been hacked, with coins worth approximately US $31 million, or 35 billion Korean won, stolen.

Reports say that Bithumb has pledged — also on Twitter — to cover the lost funds. However, the tweet has since been deleted.

Coinbase CEO comforts employees

Coinbase is the West’s most popular fiat-crypto exchange, and it was founded in 2012 by Brian Armstrong — the CEO until today.

Recent tweets by Armstrong suggested an effort to comfort his employees about Bitcoin’s trajectory, despite the recent bear market. He accompanied his first tweet with a graph of the last 5 years’ pattern of up-down price cycles.

VeChain’s Sunny Lu calls for bug hunters

VeChain’s Thor network went public recently, and the team have been encouraging users to look for bugs in the code with the promise of bounties.

The team’s CEO, Sunny Lu, tweeted out yesterday saying that he’ll be personally doubling the bounty for bugs — and that so far only the community has spotted only a few minor problems but no critical ones.