Bitcoin

Bitcoin Daily: Crypto Livestreamer Loses $2M, Bitcoin Traders Hope For Post-Tax Day Surge

Cryptocurrency

A YouTube broadcaster, who is famous for his reviews of initial coin offerings (ICOs), is reportedly out $2 million due to an apparent hack, The Next Web reported. Ian Balina was reportedly notified of the hack through comments during one of his livestreams. “Ian, did you know that somebody transferred all your tokens from your account,” a user reportedly wrote in the comments. “Hope that it’s controlled movement.” His live stream was apparently cut short due to a power failure, but Balina later took to Twitter to say that he ended the livestream session due to the hack.

In bitcoin news, cryptocurrency pundits are hoping that the world’s top cryptocurrency will rebound after Tax Day (April 17), CNBC reported. “Tax-selling has been a significant factor in downward crypto prices over the past few weeks. I would expect this downward pressure to abate after tax day,” Blockchain Capital partner Spencer Bogart told CNBC.

Bitcoin has fallen more than 40 percent since the beginning of the year. It was trading at $8,044.82 as of 7:31 p.m. on Monday (April 16), according to CoinDesk. But the cryptocurrency had skyrocketed more than 1,000 percent in 2017, which means that American households may have tax liabilities of $25 billion for their digital coin gains.

And a cryptocurrency exchange said that it will reimburse users after a $3.4 million hack, but the funds may not be paid out in bitcoin, CoinDesk reported. According to a message posted on Coinsecure’s website, the funds may be paid out in Indian rupees instead. “Through the course of the investigation, should we be able to recover all of our BTC, all our customers’ BTC holdings will be refunded as per the balance they held with Coinsecure. However, if recovery of siphoned BTC is not possible, then we will apply the lock-in rates as of the 9th of April, 2018. 10 percent of the coin holding balance will be refunded in BTC and 90 percent will be returned in [Indian rupees].”

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