Iota cryptocurrency shuts down entire network after wallet hack

Re:Iota cryptocurrency shuts down entire network after walle... by tanastasiu on Monday February 17, 2020 @07:01AM (#22347073)

This seems like fake news because there is no significant crash in the price.

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Re:Iota cryptocurrency shuts down entire network after walle... by tyingq on Monday February 17, 2020 @07:08AM (#22347120)

"within 25 minutes of receiving reports that hackers were stealing funds from user wallets, the IOTA Foundation shut down "Coordinator," a node in the IOTA network that puts the final seal of approval on any IOTA currency transactions."

Hard for the price to crash when they shut down the network 25 minutes after the hack.

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Re:Iota cryptocurrency shuts down entire network after walle... by mihaifm on Monday February 17, 2020 @07:26AM (#22347194)

Trading on exchanges can still theoretically continue, it's just deposits and withdrawals that won't work.

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Re:Iota cryptocurrency shuts down entire network after walle... by Glosster on Monday February 17, 2020 @07:34AM (#22347232)

You must understand that people holding IOTA after the last network halt (which was ~45 days ago), aren't very bright.

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Re:Iota cryptocurrency shuts down entire network after walle... by smt88 on Monday February 17, 2020 @07:05AM (#22347095)

So you're saying ZDNet is quoting the tweets of an Iota imposter?

Or is it more likely that markets of speculators aren't rational?

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Re:Iota cryptocurrency shuts down entire network after walle... by api on Monday February 17, 2020 @07:51PM (#22352443)

Cryptocurrency prices are fake for all but the top currencies, and even there it's fairly hand-wavey.

The entire domain has been totally taken over by scams and ruined by get rich quick idiots. The bubble killed cryptocurrency.

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Re:Iota cryptocurrency shuts down entire network after walle... by zelly on Monday February 17, 2020 @12:15PM (#22349059)

Altcoin prices do not depend on anyone using the software or the software even working. No one used it before it broke either.

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