my fintech empire.

Chapter 487 [Hacking Attack]

On the following May 5, Bitcoin continued to fluctuate violently. It first fell from the opening price of $28 to $4.7, with an intraday drop of -2.6%, and then began to rise wildly.

Its price rose from the intraday lowest price of $2.6 to the highest price of $10.7, achieving the largest intraday increase of +127.66%, and rising from the intraday lowest price of $2.6, today's theoretical unilateral long position can reach +311.53%.

全天振幅也再度刷新了5月20日见顶52美元的的134.82%，达到了惊人的172.34%的振幅。

It finally closed at $9.6, a day-to-day increase of +104.26%. After seven consecutive days of plummeting, it finally ushered in a retaliatory rise, and the increase doubled in one day.

Players in the currency circle are excited!

In the next three days, the trend of Bitcoin continued the bullish rally and continued to rebound. On May 5, it rose by +29%, on May 33.33 it rose by +5%, and on the last day of this month it rose again by +30%. The price of the currency has also risen to the price of 14.98 US dollars.

However, the trading volume in the past few days can be gradually reduced, basically maintaining a full-day trading volume of around 1000 million US dollars, because Fang Hong's trading team has not frantically swiped the trading volume data.

Entering June, on Wednesday, June 6, Bitcoin, which has risen for four consecutive days, closed down -6% today.

There is a news in the foreign currency circle that "Mentougou" will soon launch the first short-selling tool of Bitcoin, and participants will be able to short Bitcoin at that time.

The so-called "Mentougou" is the bitcoin trading platform Mt Gox. This platform is a small cryptocurrency exchange. Because of the similar pronunciation, it is nicknamed "Mt Gox" by domestic currency players. Everyone is accustomed to calling it and agrees It has become customary.

……

On Thursday, June 6, Bitcoin rushed to the price of $2 on the day, and when the increase reached +16.9%, it suddenly began to plunge. The reason for the dive was that Bitcoin’s first short-selling tool was launched by the Mt Gox trading platform.

The cryptocurrency has officially ushered in the era of shorting.

Players in the currency circle are also very "sensible". As soon as the news spread that day, there was a wave of chatter and respect. On the same day, the intraday highest price of 16.9 yuan exploded again to the price of 4.7 US dollars.

Compared with the intraday highest price, it hit a -72.19% drop, and compared with the opening price, it hit a -68.24% drop.

Exciting as always.

After Bitcoin fell to a price of $4.7 in the intraday session, it started a short-squeeze rebound of +104.25%, rushed up to a price of $9.6, and finally closed at this price, closing down -35.13% throughout the day. The amplitude is 82.18%.

After entering June, Fang Hong pays more attention to the direction of Bitcoin, the most important thing is to care about the 315 million Bitcoin chips that he has collected with so much effort. Not surprisingly, the Mt Gox trading platform will suffer a lot, encountering hackers The attack also laid the fuse for future bankruptcy.

The chips in Fang Hong's hands are not on the Mt.Gox trading platform, but he does have a little chip, which is used to make bitcoin trends, but it is not a big problem, and the corresponding value is less than 1000 million U.S. dollars. Go ashore and take the dollar first.

At present, Bitcoin has been manipulated by Fang Hong in this way, which has activated the speculative atmosphere in the market. The trading atmosphere has been hundreds of times more active than last year, and the average daily transaction in the past month has been maintained at the level of tens of millions of dollars.

After the first short-selling tool came out and tasted the sweetness of short-selling on the first day, players who were short-selling Bitcoin were quickly blown away.

Because in the next three days from June 6rd to 3th, Bitcoin once again went out of Sanlianyang, rising +5%, +10.34% and +18.94% respectively, and the price of Bitcoin soared to $49.24 The height of the market broke through the high point of the rebound in the previous few days.

Then adjusted for a day, fell -11.64%, and closed at $16.7.

But then, Bitcoin adjusted for a day and rose again. After a surge of +6% on June 7, it started a crazy short squeeze in the next two days, and the heads of the shorts were smashed.

Because two new encrypted digital currency trading platforms have been launched, the scale of New Leek has been expanded.

而比特币的走势在6月8日和6月9日这两天分别暴涨+52.08%和+39.33%，价格收在了39.2美元价位，总市值又突破了8亿美元，最高价一度冲高到了41.2美元价位，这多头气势给人一种大有要突破前高52美元的历史高点的意思。

This is something no one expected. In just 14 days, Bitcoin soared from $1.9 to $41.2, with a cumulative surge of +2068.42%, which has already doubled more than 20 times.

With such a surge, more and more people are optimistic about breaking through $52 and setting a record high.

However, in the next two days, Bitcoin adjusted downward, falling -2.52% and -7.71%, respectively.

On Saturday, June 6, the trend of Bitcoin crashed again, from the opening price of $11 to around $35, and the daily life was cut in half, and finally fell to $15 and the price plummeted -14.6%.

……

Finally, it's time to come.

On June 6, the trading desk of Mt Gox was attacked by hackers. Hackers took advantage of the platform’s security loopholes to transfer the bitcoins stored offline from the “cold wallet”. Selling for a penny, the previous normal market price was around $20.

On that day, both domestic and foreign currency circle forums exploded.

[Wori, my bitcoins are gone? ]
[What's going on with the horse riding?Why are my Bitcoins being sold for 1 cent? ]
[Is there a bug in Mentougou? ]
[Why can't it be traded? ]
[Overseas explosive news, Mentougou was hacked, the founder Mark Caples tweeted to call on users to change their passwords quickly, the trading platform has been closed! ]
[? ? ? ? ]
[Wori——! ]
[The latest news, Mark announced that today's transaction is an abnormal period transaction, and all batch transactions are invalid. ]
[Woke up in the middle of the night, and the $2 in the account was immediately reset to zero! ]
[Many people have been tricked, and many people in foreign currency circles have posted that Bitcoin was stolen from their wallets! ]
……

The next day, the news that the Mt Gox trading platform was hacked was reported by many financial media in Europe and the United States. This encrypted digital currency trading platform, established in 2010, currently has more than 100 million registered users worldwide. to millions of dollars.

This time it really went out of the currency circle.

The founder of Mt Gox, Mark Caples, immediately issued a document stating that the funds are safe, and his management team has repeatedly ensured the safety of the funds on the platform.

At present, Mt. Gox is still a giant in the Bitcoin market. Many people still believe that these problems are only temporary, and the founder of Mt. Gox is also a well-respected figure in the currency circle.

But it is not a good thing that Mt Gox and encrypted digital currency have become popular in this way this time, and the security of digital currency has also been questioned by investors.

Foreign media reporters asked the Mt Gox management team to disclose specific data such as how many bitcoins were lost.

However, it was rejected by the Mt Gox management team on the grounds of checking system vulnerabilities and statistics.

Now, many people are still panicking.

It shows that the amount of bitcoins stolen this time is very large.

In fact, the management team of Mt Gox knew that this time, the platform lost a total of about 85 bitcoins, of which about 75 were from users and 10 were from the company.

Based on the current price of 15 US dollars per piece, the total value is 1275 million US dollars.

For the Mt.Gox platform, although it will not go bankrupt, it is still an unbearable huge loss.

The most important thing is a potential hidden danger here. Once Bitcoin rises and the Mt Gox platform does not recover the lost Bitcoin, what if the price rises to $1500 per coin?

That is 12.75 billion US dollars, which cannot afford to sell the Mt Gox platform.

……

(End of this chapter)