Ethereum, one of the most robust cryptocurrency is in the market, is experiencing challenges. Ethereum price is plunging deep, which follows a variety of reasons. One of the possible reasons for the plummeting of prices is the strong negative words. The words come from India. The government talks negative things about the digital coin. The other reason is price manipulation by Bitfinex exchange. The price manipulation by Bitfinex does not affect Ethereum alone. All other digital currencies are crying foul too.
Why Did Ethereum Investors Loose Money From The BeeToken Hack?
Currently, prices of all significant digital coins are so low, which is where the ether blends with others. At the time of writing this document, the ether is trading below $890. This figure is far much low when you compare with last week’s over $1, 150. The third reason why the ether is now little thanks to an ICO. Clients are ready to invest in a new startup. BeeToken is the name of the new startup. It promises clients good times ahead.
Opens Wide Door For Hackers On The Dark Net
Unfortunately, this opens a full door for attackers. Finally, they manage to steal over $1 million worth of ether. Before the hack, the company communicates to clients. It warns them that it will never deliver via emails and Telegrams. Users do not heed this directive. Instead, attackers use ingenious means to ask clients to send money directly. In the end, attackers flee with over $1 million of ethereum.
NEVER Do So through Direct Message to you via Telegram
“Please note that we will NEVER EVER communicate an Ethereum address through an email. We will NEVER do so through Direct Message to you via Telegram,” the company says. Another ethereum startup is trying to bounce back. The startup by the name Parity Technologies experiences a challenge. It is one of the most significant problems in the history of digital currencies.
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Startup raises $150 million last year through ICO
A novice developer with the startup accidentally freezes the funds, which means nobody can access the $160 million. Out of this money, the startup raises $150 million last year through ICO. In an attempt to make a comeback, the company is releasing node software. The aim is to increase the speed of the platform. The result is that it will be fast for clients to do business. Besides, the startup is keen to give its essential client updates. A quick look at the startup’s website will show you that it is living in its word. Critical updates are trickling in every hour. Here is an excerpt from the startup’s website.
7.02pm – UPDATE – Ethereum is now back
We’ll bring you news bit after a bit. This is to inform you about our program. Ethereum is now trading at $879. This figure comes from CoinMarketCap 2.50pm – UPDATE – Nuru Coin, is a cryptocurrency for Africa. It uses ethereum’s blockchain.
Nuru Coin is a creation of Isaac Muthu
The Nuru Coin is a creation of Isaac Muthui. Isaac is a Computer Science graduate. He designs Nuru Coin to be the cryptocurrency of Africa. This digital coin seeks to solve the problem of payment in intra-Africa trade. It will also solve cross-border and business to customer marketplace.
12.56 am – UPDATE – ETH is now down to $794. It is a miserable week as the ether loses $246. 11.57am – UPDATE – Speed issues. An update on the speed of the platform is coming shortly, which is an excerpt of what the startup gives its clients after a comeback. It is happening when Ethereum price is sinking.
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