Bitcoin Blasts Over $16,000

Bitcoin has broke another record–although this time it comes on the heels of millions of dollars worth of the cryptocurrency being stolen.
On Thursday (December 7), the digital currency broke the $16,000 threshold to $16,599.13 according to data from Coindesk.com, rising more than $3,000 in under a 24 hour period. Since its high  early on Thursday, bitcoin has dipped back under $16,000 to $15,781.67.
CNBC reported on Thursday morning that cryptocurrency slammed above $19,000 on the Coinbase exchange before dropping back to $15,198.63.

Slovenian-based bitcoin miner NiceHash initially took to twitter on Wednesday indicating the website is undergoing maintenance and working to resolve the issues as soon as possible.

Dear NiceHash users,
we are very sorry for the inconvenience caused. Our team is working hard to resolve the issues on the service, it might take longer than expected. We’ll keep you updated!

— NiceHash (@NiceHashMining) December 6, 2017

By early Thursday, NiceHash issued a statement indicating that there was a security breach involving its website and that its “payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen.”
Varying reports have suggested the amount of bitcoin hacked from NiceHash range between $60 million and $70 million. CNBC reported late Wednesday evening that NiceHash users have indicated that the compromised bitcoin walled held 4,736.42 bitcoins, or roughly $67 million.
“Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency,” the statement read.
Andrej P. Skraba, NiceHash marketing executive confirmed with Reuters that the company was victimized by a “highly professional” hacker that stole roughly 4,700 bitcoin.
While bitcoin has gained 25.70 percent in the last 24 hours, other top cryptocurrencies have gone the other way. Coinmarketcap.com data shows that ethereum has dropped off 2.30 percent to $430.55, while bitcoin cash has dipped 8.77 percent to $1,360.24. IOTA has decreased by 14.58 percent to $3.65 and Ripple has fallen by 5.28 percent to $0.22.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.