"The markets are so thinly traded, primarily by retail accounts, that these guys can get really scared out of positions", he said.
Bitcoin extended losses for a third day, tumbling as much as 12 per cent Sunday as South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system. "It actually doesn't take a lot of money to move the market significantly".
Coinrail claims 70 percent of its cryptocurrency reserves are safe and have been transferred to cold wallets for security reasons; their transactions and withdrawals will resume as usual once the exchange service is stabilized.
Pundi X stated on its blog that the decentralized cryptocurrency exchange IDEX (where the stolen funds had been moved) agreed to urgently freeze the trading of NPXS coins on its platform, and all the stolen coins remain traceable for now.
The largest cryptocurrency declined to $US6,749 as of 2 p.m.in NY, the biggest drop since March 14, according to data compiled by Bloomberg from Bitstamp pricing. The company wasn't immediately available for further comments.
Vince Vaughn Arrested on DUI Charges
The 48-year-old was arrested early Sunday morning when he went through a checkpoint in the city, police said . Vaughn is known for his roles in such film's as "Swingers" and "The Wedding Crashers " and "Hacksaw Ridge".
EA E3 2018: Command and Conquer Rivals
Rivals , players choose a Commander to lead their forces, each with his own abilities that can influence the gameplay style. Start stockpiling your tiberium, because EA has just announced the release of Command & Conquer: Rivals .
Trump And Kim Arrive In Singapore For Unprecedented Summit
The foreign minister of Singapore tweeted out a picture of the cake presented to Trump at the luncheon today in Singapore . Officials from United States and North Korean delegations have finished up a meeting in preparation of Tuesday's summit.
In battle of tweets, Canadas Trudeau dismisses Trump critique
After the conclusion of the summit, Trump again said he would not allow other countries to impose barriers on the United States. Relations between with the United States and the other members, particularly Canada, remained strained on the issue of trade.
Hurricane Aletta a Category 4 storm in Pacific off Mexico
Aletta is the first hurricane in the eastern Pacific this season, which began formally on May 15 and will last until November 30. Future Bud is expected to quickly intensify over the warm Pacific waters in a similar manner to Aletta's development.