Crypto Markets See Red After Binance Hack, Bitcoin Falls Below $5,900

Investing, News | May 8, 2019 By:

The cryptocurrency markets have pulled back slightly amid reports of the theft of $40 million from Binance, the world’s largest crypto exchange. The total market cap of all cryptocurrencies has dropped to just under $184 billion, losing around $5 billion from yesterday’s high of $189 billion.

In early trading, the price of bitcoin is around $5,878, down 1.05% over the last 24 hours. The decline follows a bullish couple of days, during which the most popular coin hit a high of almost $6,000.

The rest of the top ten coins are seeing losses between 1 and 6 percent, with Binance Coin hit hardest, down 6.79%.