A month ago, the market cap was $232 billion and though the numbers do fluctuate, they are approximately around $600 billion. And while some cryptocurrencies skyrocket other fall from grace, unable to keep up the pace.
On Monday, the cryptocurrency industry surpassed the $600 billion mark for the first time. In the past few months, investments in the sector have been enormous and doubled its net worth in just over a month. A month ago, the market cap was $232 billion and though the numbers do fluctuate, they are approximately around $600 billion. And while some cryptocurrencies skyrocket other fall from grace, unable to keep up the pace.
With all the craze going on, governments are concerned about regulations on crypto trade. In the United Kingdom, institutions are looking for a way to apply national laws on ICOs. The Financial Conduct Authority is carrying an examination, which supposedly will shed some light on the regulations matter. Given their warnings to consumers on the risks of initial coin offerings, fraud being one of them, FCA reminds the public that without regulations, the law protects no one who participate in ICOs.
In other news, cryptocurrency trade seems to cause problems between South and North Korea as well. BBC reports that according to South Korea’s chief intelligence their northern neighbors sit behind the attacks on one of the largest digital money markets. Bithumb’s employee had his computer hacked back in February an around $7 billion worth of cryptocurrency were snitched. The attack also compromised the personal information of 30, 000 users. How many accounts have fallen victim to the thieves is still unknown. Moreover, thieves have reportedly blackmailed authorities $5.5 million for the data stolen.
Hackers have targeted another exchange, too. The National Intelligence Service in South Korea suspects that hackers from North Korea compromised Coinis. It seems like the attacks are well organized because 25 employees working in four different markets were caught off guard. On 10 separate occasions “spear phishing” was the main scam weapon.