Crypto Update: Reversal off Lows for Cryptocurrencies Builds

News regarding the hack of BitGrail continues to be heard. And malware criminals are now targeting computers for cryptocurrency mining.

BitGrail and Nano Arguing, Hack of 170 Million U.S Dollars of RaiBlocks

News regarding the hacking of the Italian Cryptocurrency Exchange BitGrail continues to make the news. And interestingly, there appears to be a large disagreement about who is to blame regarding the outcome of the hack. BitGrail claims the hack occurred because the cryptocurrency, RaiBlocks, which has been developed by Nano is to blame because of a vulnerability within its code. However, Nano has hit back at BitGrail and said this is not the case. In the meantime, one thing is for certain, hackers have stolen 170 million U.S Dollars’ worth of cryptocurrency.

Ethereum Stages a Recovery, Important Resistance Coming Into View

Ethereum has staged a recovery. Ether is trading near 860.00 U.S Dollars per coin. The cryptocurrency bounced off yesterday’s lows, and traders are likely looking at potential resistance around 960.00 Dollars as an important level. Support appears to be 750.00. After falling to low water marks early last week, Ethereum has now accomplished a fairly stable trend without an incredible amount of volatility. Ether continues to be a good barometer for the cryptocurrency marketplace.

Malware Moves from Ransomware to Cryptocurrency Mining Sphere

Intriguing and dangerous phenomena has been getting attention lately. Ransomware criminals have apparently moved into the cryptocurrency mining arena. Instead of taking over a computer and asking for money, malware criminals are now infecting computers with a virus which allows them to use the hacked computers to ‘mine’ for cryptocurrencies. It has been reported that many of the National Health Services websites in the U.K have been recently hit by an attack.

St. Petersburg Blockchain Event Tomorrow

A conference will be held in St. Petersburg, Russia tomorrow and focus of cryptocurrencies and Blockchain.

• 13th, Russia, Blockchain Conference in St. Petersburg

Yaron Mazor is a senior analyst at SuperTraderTV.

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