This week’s crypto news update begins with confirmation that Cryptopia has become 2019’s first major exchange to be hacked. The New Zealand-based trading platform boasts one of the widest selections of altcoins on the market and is thought to have the backing of around 90 heavy-hitting investors.
Coincentral reported that rumours relating to Cryptopia undergoing suspiciously unplanned maintenance was actually an unsuccessful effort by the exchange’s team to repel an attack, a fact that was confirmed on Tuesday.
“on Jan. 15, Cryptopia officially announced that it was hacked the day before. According to the note shared by the platform, after finding out about the security breach, the exchange’s staff froze all operations to assess damages.”
On the regulation front, Wyoming continues to prove itself to be one of the most crypto friendly states in the Union. Bill 0185 has been proposed by lawmakers which would, if passed, “legalise the tokenisation of stock certificates for corporations” and make, “voting via blockchain legally binding as well.”
So, impressed with the Equality State are the developers of Cardano (IOHK), that they’ve decided to relocate from Hong Kong to Wyoming.
In the market, the third week of January has brought with it a level of stability that will be welcomed by investors (although possibly not headline hungry newspaper editors!).
Bitcoin has lost just under 1% of its value across the week as it recovers quietly from its tenth anniversary celebration hangover. Today, each coin is worth 3,743 US dollars (USD) with a total cap of just over 65 billion USD which equates to roughly half the entire market.
Ethereum and Ripple are still duking it out for second spot in CoinMarketCap’s top 100. Ethereum lost 3.86% over the week, leaving Ether worth about 125 USD a pop. It retained second place position though, as Ripple also made a loss (2.54%) over an otherwise uneventful week for everyone’s favourite shillcoin.
This crypto news update had to plumb the depths of the CMC’s list to find big winners, with Augur (56.85%), Chainlink (20.45%), and TenX (78.94%) all recording big gains in the lower ranks.
In the case of Cryptopia, this week has served as a timely reminder that, whilst it’s tempting to focus solely on the opportunities that 2019 might bring, it’s equally important to acknowledge and address the issues which remain left over from 2018.