Pundits and commentators have long worried about the security of decentralized cryptocurrencies. BITCOIN was dealt another blow last night after South Korean cryptocurrency exchange Bithumb said $31.5 million was stolen by hackers causing the principle coin to fall from $6,742 to $6,562. You have your Bitcoins in your own Bitcoin wallet, which will sort of your own bank.

Like a stable coin it can be used as an intermediary for exchanges with other forms of cryptocurrency, however it has the added benefits of affording token-holders discount on all on-platform transactions in addition to being able to stake these coins towards potential new coin listings in the future.

Given the attitude people have with security and the nature of viruses alone, 99%+ of people aren't 'ready' to use bitcoin beyond small amounts. The heist yielded 1,295 BTC Cash Stealer to the hackers, the equivalent to more than a $1 million according to this Tuesday's (26) exchange rate.

The indictment alleges BTC-e was operated to facilitate transactions for cybercriminals worldwide and received the criminal proceeds of numerous computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials, and narcotics distribution rings.

Users of the Electrum Bitcoin wallet have faced serious hacking incidents now and again. Representatives soon began issuing warnings to some of Japan's largest digital exchanges, claiming that if they didn't beef up their security tactics, they'd be shut down.

The latest hack attack perpetrated against another Japanese crypto exchange has managed to steal roughly $60 million worth of cryptocurrency. Hence, the dollar value of these hacks may have reflected a different number at the time given the price of Bitcoin.