Turkish cryptocurrency exchange attacked, market volatility attracts attention?
Recently, Turkey's cryptocurrency market has set off a wave. On June 22, BtcTurk, one of Turkey's largest cryptocurrency exchanges, suffered a cyber attack, forcing the platform to suspend cryptocurrency deposit and withdrawal services. The attack reportedly affected the exchange's hot wallets for 10 cryptocurrencies, but most of the assets were stored in more secure cold wallets and were not affected.
This sudden attack not only caused trouble for BtcTurk, but also attracted widespread attention from the market. Even more shocking is that there are reports that an address closely related to the Turkish exchange sold up to $54 million worth of AVAX (Avalanche tokens) on the blockchain, sparking speculation about whether the attack was related.
At the same time, bad news came from the Bitcoin market. Since June, Bitcoin miners have sold a large number of BTC in their hands, with the number of sales reaching 30,000, worth about $2 billion, setting a record high so far this year. This wave of selling not only put pressure on Bitcoin prices to fall, but also caused mining-related stocks to fall sharply, falling to their lowest level in 14 years. Analysts believe that the recent halving of Bitcoin block rewards is one of the important reasons for the sell-off, as this change reduces the profit margins of miners.
In Japan, another piece of news about cryptocurrency has also attracted market attention. The custodian of the Mt.Gox exchange recently announced that it will begin processing claims for BTC and BCH in early July to repay creditors' losses. This news makes the market full of expectations for the future of Mt.Gox, but it also raises concerns about possible selling pressure in the market.
