Bitcoin Hits All Time High, Valued At $5,651


Bitcoin yesterday gained strength, appreciating in value as it is now worth $5,651, marking exactly two months after passing the $4,000 value.

 The cryptocurrency was able to hit $5,000 in September 2017 though it lasted for only 10 minutes. Bitcoin experienced a temporal fall in its value Last month when the Chinese government placed a ban on ICOs and cryptocurrency exchanges.


Other cryptocurrencies are also appreciating in value while others cant just keep up the pace with Bitcoin. Litecoin experienced a 10% increase in value, Ethereum up by 2% while Ripple experienced a fall of 2%. So far                                                                                                                                                          
While it is still unclear what made the price to gain that much, some hinge their belief on many Wall Street banks who have suddenly shown cryptocurrency interests and disinterest at the same time. Financial media like CNBC have been seen talking about Bitcoins on several occasions as any traditional security.

 While most Bitcoin users are happy with the new value that Bitcoin has attained, some Bitcoin users are worried that the cryptocurrency is to undergo another hard fork called SegWit2X at the end of November.

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Bitcoin Sets New Record, Now Worth Over $7,000



Bitcoin has set a new record as it surge past $7,000 for the first time, breaking another milestone less than a month after it reached $5,000.

  The digital currency which has been building on consecutive highs in recent days is up over 20.56 percent, and its market capitalization is now peaked at over $116 billion.

  Pricing for Bitcoin soared 12 percent to a peak record of $7,392 before falling back slightly to $7,025 at 8:53 a.m in New York. The cryptocurrency which is up almost sevenfold this year is now worth more than $100 billion.

 "It is simply remarkable how resilient bitcoin has been in the face of significant negativity," said Lukman Otunuga, a research analyst at ForexTime, in a Nov, 1 note to clients. "This price action suggests that bulls have a very firm grip."

 Elsewhere in the crypto markets, Bitcoin Cash is still making gains as it traded at around $546. The newly created cryptocurrency rose over 13.63 percent over the last 24 hours, rising at an amazing 62.16 percent over the last 7 days.

  The combined market cap for all cryptocurrencies is at a record high of $185.5 billion. As at press time, a Bitcoin goes for $7,075.90.

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Bitcoin Reaches All Time High, Now Valued At Over $9,600



Bitcoin has reached an all time high, breaking the $9,000 mark for the first time.

The value of the cryptocurency reached $9,000 during the weekend which is an increase of 4.28% according to Coindesk.com. Still, the cryptocurrency continues to skyrocket to reach an all time high of $9,674.57 as at Monday (Today).


Bitcoin's value has increased over 800% in 2017 alone and analyst believes that the crypto currency's value would be worth more than that by the end of the year 2017.


 On other hand, data from Coindesk showed that Ethereum had reach $481.54 in value but dropped to $470.69 this morning.

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Bitcoin Exchange Suffers Ddos Attack After Unknown Men Kidnapped Its Director



Authorities in Ukraine and Russia have confirmed the kidnapping of a managing director of a cryptocurrency exchange called EXMO. The exchange a few days after the kidnap experienced a DDoS attack.

 According to Strana.ua, Pavel Lerner, 40, who is an IT expert and managing director at one of the largest cryptocurrency exchange called EXMO, was kidnapped on the Dec 26 in Kiev, Ukraine after a group of armed men in balaclavas dragged him into a black Mercedes-Benz near his work place.

confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of https million to the kidnappers. Click here to read.

However, it wont be the first time that someone has been abducted due to his involvement with cryptocurrency. Some weeks ago, a man in New York was abducted at gun point and then forced to give his pass key to his Ethereum cryptocurrency (Bitcoins rival) and as a result, confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of http million to the kidnappers. $1.8 million worth of Ethereum were stolen from his wallet.

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Kidnappers Free Cryptocurrency Boss After Paying $1M Bitcoin Ransom



The CEO of EXMO finances, Pavel Lerner has been released by his abductors after a ransom of $1 million in bitcoin was paid for his release.

 Pavel lerner, a blockchain expert and analyst was kidnapped on Dec 26 in Kiev, Ukraine when a group of armed men in balaclavas dragged him into a black Mercedes-Benz near his work place. Two days after his kidnap, EXMO finances suffered heavy DDoS attacks from unknown cyber-attackers.

 "He was kidnapped by an armed gang for the purpose of extorting bitcoins," Anton Gerashchenko, advisor to the Ukrainian interior minister told the Financial Times. The minister who described the attack as a "bitcoin kidnapping", said that Pavel has since been released but was in a state of shock.
The minister said that they had "operative information that he paid more than $1 million worth of bitcoins" as ransom. Though it is not clear where the ransom came from, the company has made it clear in their statement that Pavel did not have access to the financial assets of the company.

 Despite the Ukrainian ministers take on Mr Pavel's release, some Ukrainian and Russian media outlets quote other sources claiming that the abductors simply got scared when news of the kidnap got viral and so decided to let him go.

 Regarding Pavel's state at the moment, the minister said that he was safe and "there was no physical harm inflicted on him".

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Bitcoin Now Valued At $13,000



 Not too long after crossing the $10,000 mark, Bitcoin has broken the $13,000 mark to be valued at over $13,000!

 According to data from Coinmarketcap, which provides an average from all the major exchange across the globe, Bitcoin's value today went as high as $3,200 before dropping down to $13,000. On the hand, Bithum, the biggest exchange in South Korea values Bitcoin at $14,700 BTC/KRW as at the time of this post.

  However, it is worth to note that not all trading pairs puts the value of the cryptocurrency at $13,000. Some put the value below the mark while others value it above the mark. 

 Bitcoin which accounts for over 58% of the whole cryptocurrency market was valued at $220.76 billion at its peak today. The whole of the crypto market is now valued at $376.7 billion
 Another coin of interest is the IOTA which is the Internet of Things Coin. The coin traded for a high of $5.55 today which is a massive growth of over 300 percent in just a week. The coin which is now valued at over $15.3 billion, all thanks to a partnership with Microsoft which triggered its growth.

  The crypto market is highly unpredictable, nobody believed that Bitcoin would go this far this year but here we are. IOTA is on the rise so expect more surprises. The coin has toppled Ripple to claim the number 4 palace on the top 10 list, although it might take a while for it to challenge Ethereum and Bitcoin cash which are second and third on the list respectively.

 Ethereum is valued at $42.9 billion while Bitcoin Cash is valued at $24.7 billion

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Bitcoin Now Valued At Over $15,000




Bitcoin hit the milestone early this morning to cross the $15,000 mark, while getting an increased value of over $2,000 just within 24 hours.

 The cryptocurrency whose valued lied at $15,364.30 as at the time of this post, continues to increase in worth despite warnings that it might come crashing.

 This new comes just few days before the launch of Bitcoin futures on two exchanges, including CME, the world largest futures exchange.
Leonhard Weese, President of the Bitcoin Association of Hong Kong thinks the spike in the value of the cryptocurrency was "mostly motivated by fear of missing out and greed".

 The crypto market is valued at $404,325,218,386 with Bitcoin alone owning more than 53% at a value of $256,985,090,550.

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Bitcoin Closes In On $17,000 New Record!




 Bitcoin is now worth $16,432.00 per Bitcoin as at the time of this writing! The cryptocurrency's value has kept increasing over the week, gaining over $3,000 in the last 24 hours alone. 

  Early this morning (Thursday), Bitcoin was worth over $15,000 though the coin saw a drop in value only to spike to an all time high. So many factors have contributed to the increase in the coins value and some experts believe that the sudden increase wont last long as they predict that the cryptocurrency would come crashing.

  So many factors have contributed to the cryptocurrency sudden rush and spike in value. President of the Bitcoin Association of Hong Kong, Leonhard Weese, attributes the sudden rush to those who were "motivated by fear of missing out and greed."


Bitcoin whose market cap is put at $274,844,704,784 dominate about 65.1% of the cryptocurrency market.

Another cryptocurrency that has appreciated in value quietly is Decentraland. The cryptocurrency which currently ranks at number 50 had no difficulty in toppling TenX to take its spot. All thanks to a 177% increased value.

   With a market cap of $230,954,456, Decentraland is in pursuit to topple PIVX and MaidSafeCoin which has a market cap of $255,937,122 and $256,985,055 respectively.

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Bitcoin Hits A New All Time High Of $18,353




Bitcoin this morning recorded an all time high of $18,353.40 Thursday 1:54:13 UTC according to CoinMarketCap.

 The cryptocurrency which saw a massive spike over a span of 72 hours kept catapulting from $12,000, $13,00 to $18,000. However, as at the time of this post, the cryptocurrecny had dropped to $15,323 as at 5:34:13 UTC just few hours after breaking a new record.

  Some controversies have followed the use of Bitcoin. Some analyst believe that the cryptocurrency isn't an ideal replacement of money and thus would eventually crash -- and users would count huge losses.
Others believe that the sudden rush and spike in the cryptocurrency's value is as a result of greed motivated by the fear of missing out.

 Bitcoin is highly volatile, its value keep rising and falling as seen in the chart above. Techfoe would keep updating you for new developments.

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South Korea Cryptocurrecy Exchange Goes Bankrupt After Suffering Second Major Hack


The huge value of cryptocurrency --- most especially bitcoin, has drawn the attention of cyber-criminals who sees it as a profitable niche to earn from through illicit means.

South Korea cryptocurrency exchange Youbit has been forced to shut down after suffering a major cyber-attack for the second time this year within a span of eight months. This is the first time a Korean cryptocurrecny exchange would go bankrupt.

 The company which had lost nearly 4,000 bitcoin in the first attack which at that time was valued at 5.5 billion won ($5 million) and nearly 40% of the exchange total assets, declared itself bankrupt on Tuesday after it announced that it had lost 17% of its asset.

 "We will close all trades, suspends all deposits or withdrawals and take steps for bankruptcy," the company said in a statement .
The company would mark down by 25% all clients crypto-currency so as to minimize the losses and impact of the hack. Insurance and sell of the remains of the firm should make up the remaining balance to settle clients.

  The South Korean crypto-market is one of the most active for virtual currency with about 1 million South Korean investors whose trades accounts for around 20% of the global bitcoin transactions. The rush for bitcoin in South Korea is so strong that the price of a bitcoin lies 20% higher when compared to the US, its biggest market.

  Security researchers from different firms have blamed attacks on crypto exchanges on North Korea.

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This Suit Mines Cryptocurrency Using Your Body Heat



 A McKinsey study estimates that by 2055, half of all jobs can be automated. Artificial intelligence and robots will greatly change the labour market which will result in hundreds of millions of people losing their jobs.

 In an answer to this, researchers at the Institute for Human Obsolescence (IoHO) in the Hague are working on a possible solution to man when human labour would no longer be required in the future.

  Manuel Beltran, founder of IoHO and his team of researchers have come up with a way in which the human body heat can be used to mine crypto coins, thus earning money for the individual(s).

  For the mining to take place, a body suit is worn by the individual which then converts the body heat into electrical energy and operates it with crypto-mining. An algorithm evaluates in real time cryptocurrency which is currently the most lucrative and begins to perform the necessary computational operations. 37 people who volunteered, generated about 16,594 crypto coins of different currencies within 212 hours of mining. 80% of the revenue went into the workers wallets, while 20% remained at the institute.
 
"We can envision a future in which machines can replace human labour and thereby thrive our species without the burden of employment," Beltran says. "But can also imagine a future in which our situation as an obsolete person becomes a problem, as there is a mismatch between overpopulation and low labour demand."

  Beltran who studied at the ArtScience Interfaculty in the Netherlands, tried explaining how the Institution of Human Obsolescence wasn't there to provide ready made solutions to these problems but rather stimulate the people to the possible consequences.

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Bitcoin Exchange Suffers Ddos Attack After Unknown Men Kidnapped Its Director



Authorities in Ukraine and Russia have confirmed the kidnapping of a managing director of a cryptocurrency exchange called EXMO. The exchange a few days after the kidnap experienced a DDoS attack.

 According to Strana.ua, Pavel Lerner, 40, who is an IT expert and managing director at one of the largest cryptocurrency exchange called EXMO, was kidnapped on the Dec 26 in Kiev, Ukraine after a group of armed men in balaclavas dragged him into a black Mercedes-Benz near his work place.

confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of https million to the kidnappers. Click here to read.

However, it wont be the first time that someone has been abducted due to his involvement with cryptocurrency. Some weeks ago, a man in New York was abducted at gun point and then forced to give his pass key to his Ethereum cryptocurrency (Bitcoins rival) and as a result, confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of http million to the kidnappers. $1.8 million worth of Ethereum were stolen from his wallet.

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Kidnappers Free Cryptocurrency Boss After Paying $1M Bitcoin Ransom



The CEO of EXMO finances, Pavel Lerner has been released by his abductors after a ransom of $1 million in bitcoin was paid for his release.

 Pavel lerner, a blockchain expert and analyst was kidnapped on Dec 26 in Kiev, Ukraine when a group of armed men in balaclavas dragged him into a black Mercedes-Benz near his work place. Two days after his kidnap, EXMO finances suffered heavy DDoS attacks from unknown cyber-attackers.

 "He was kidnapped by an armed gang for the purpose of extorting bitcoins," Anton Gerashchenko, advisor to the Ukrainian interior minister told the Financial Times. The minister who described the attack as a "bitcoin kidnapping", said that Pavel has since been released but was in a state of shock.
The minister said that they had "operative information that he paid more than $1 million worth of bitcoins" as ransom. Though it is not clear where the ransom came from, the company has made it clear in their statement that Pavel did not have access to the financial assets of the company.

 Despite the Ukrainian ministers take on Mr Pavel's release, some Ukrainian and Russian media outlets quote other sources claiming that the abductors simply got scared when news of the kidnap got viral and so decided to let him go.

 Regarding Pavel's state at the moment, the minister said that he was safe and "there was no physical harm inflicted on him".

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Bitcoin Now Valued At $13,000



 Not too long after crossing the $10,000 mark, Bitcoin has broken the $13,000 mark to be valued at over $13,000!

 According to data from Coinmarketcap, which provides an average from all the major exchange across the globe, Bitcoin's value today went as high as $3,200 before dropping down to $13,000. On the hand, Bithum, the biggest exchange in South Korea values Bitcoin at $14,700 BTC/KRW as at the time of this post.

  However, it is worth to note that not all trading pairs puts the value of the cryptocurrency at $13,000. Some put the value below the mark while others value it above the mark. 

 Bitcoin which accounts for over 58% of the whole cryptocurrency market was valued at $220.76 billion at its peak today. The whole of the crypto market is now valued at $376.7 billion
 Another coin of interest is the IOTA which is the Internet of Things Coin. The coin traded for a high of $5.55 today which is a massive growth of over 300 percent in just a week. The coin which is now valued at over $15.3 billion, all thanks to a partnership with Microsoft which triggered its growth.

  The crypto market is highly unpredictable, nobody believed that Bitcoin would go this far this year but here we are. IOTA is on the rise so expect more surprises. The coin has toppled Ripple to claim the number 4 palace on the top 10 list, although it might take a while for it to challenge Ethereum and Bitcoin cash which are second and third on the list respectively.

 Ethereum is valued at $42.9 billion while Bitcoin Cash is valued at $24.7 billion

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Bitcoin Now Valued At Over $15,000




Bitcoin hit the milestone early this morning to cross the $15,000 mark, while getting an increased value of over $2,000 just within 24 hours.

 The cryptocurrency whose valued lied at $15,364.30 as at the time of this post, continues to increase in worth despite warnings that it might come crashing.

 This new comes just few days before the launch of Bitcoin futures on two exchanges, including CME, the world largest futures exchange.
Leonhard Weese, President of the Bitcoin Association of Hong Kong thinks the spike in the value of the cryptocurrency was "mostly motivated by fear of missing out and greed".

 The crypto market is valued at $404,325,218,386 with Bitcoin alone owning more than 53% at a value of $256,985,090,550.

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Bitcoin Closes In On $17,000 New Record!




 Bitcoin is now worth $16,432.00 per Bitcoin as at the time of this writing! The cryptocurrency's value has kept increasing over the week, gaining over $3,000 in the last 24 hours alone. 

  Early this morning (Thursday), Bitcoin was worth over $15,000 though the coin saw a drop in value only to spike to an all time high. So many factors have contributed to the increase in the coins value and some experts believe that the sudden increase wont last long as they predict that the cryptocurrency would come crashing.

  So many factors have contributed to the cryptocurrency sudden rush and spike in value. President of the Bitcoin Association of Hong Kong, Leonhard Weese, attributes the sudden rush to those who were "motivated by fear of missing out and greed."


Bitcoin whose market cap is put at $274,844,704,784 dominate about 65.1% of the cryptocurrency market.

Another cryptocurrency that has appreciated in value quietly is Decentraland. The cryptocurrency which currently ranks at number 50 had no difficulty in toppling TenX to take its spot. All thanks to a 177% increased value.

   With a market cap of $230,954,456, Decentraland is in pursuit to topple PIVX and MaidSafeCoin which has a market cap of $255,937,122 and $256,985,055 respectively.

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Bitcoin Hits A New All Time High Of $18,353




Bitcoin this morning recorded an all time high of $18,353.40 Thursday 1:54:13 UTC according to CoinMarketCap.

 The cryptocurrency which saw a massive spike over a span of 72 hours kept catapulting from $12,000, $13,00 to $18,000. However, as at the time of this post, the cryptocurrecny had dropped to $15,323 as at 5:34:13 UTC just few hours after breaking a new record.

  Some controversies have followed the use of Bitcoin. Some analyst believe that the cryptocurrency isn't an ideal replacement of money and thus would eventually crash -- and users would count huge losses.
Others believe that the sudden rush and spike in the cryptocurrency's value is as a result of greed motivated by the fear of missing out.

 Bitcoin is highly volatile, its value keep rising and falling as seen in the chart above. Techfoe would keep updating you for new developments.

Labels: , ,

South Korea Cryptocurrecy Exchange Goes Bankrupt After Suffering Second Major Hack


The huge value of cryptocurrency --- most especially bitcoin, has drawn the attention of cyber-criminals who sees it as a profitable niche to earn from through illicit means.

South Korea cryptocurrency exchange Youbit has been forced to shut down after suffering a major cyber-attack for the second time this year within a span of eight months. This is the first time a Korean cryptocurrecny exchange would go bankrupt.

 The company which had lost nearly 4,000 bitcoin in the first attack which at that time was valued at 5.5 billion won ($5 million) and nearly 40% of the exchange total assets, declared itself bankrupt on Tuesday after it announced that it had lost 17% of its asset.

 "We will close all trades, suspends all deposits or withdrawals and take steps for bankruptcy," the company said in a statement .
The company would mark down by 25% all clients crypto-currency so as to minimize the losses and impact of the hack. Insurance and sell of the remains of the firm should make up the remaining balance to settle clients.

  The South Korean crypto-market is one of the most active for virtual currency with about 1 million South Korean investors whose trades accounts for around 20% of the global bitcoin transactions. The rush for bitcoin in South Korea is so strong that the price of a bitcoin lies 20% higher when compared to the US, its biggest market.

  Security researchers from different firms have blamed attacks on crypto exchanges on North Korea.

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This Suit Mines Cryptocurrency Using Your Body Heat



 A McKinsey study estimates that by 2055, half of all jobs can be automated. Artificial intelligence and robots will greatly change the labour market which will result in hundreds of millions of people losing their jobs.

 In an answer to this, researchers at the Institute for Human Obsolescence (IoHO) in the Hague are working on a possible solution to man when human labour would no longer be required in the future.

  Manuel Beltran, founder of IoHO and his team of researchers have come up with a way in which the human body heat can be used to mine crypto coins, thus earning money for the individual(s).

  For the mining to take place, a body suit is worn by the individual which then converts the body heat into electrical energy and operates it with crypto-mining. An algorithm evaluates in real time cryptocurrency which is currently the most lucrative and begins to perform the necessary computational operations. 37 people who volunteered, generated about 16,594 crypto coins of different currencies within 212 hours of mining. 80% of the revenue went into the workers wallets, while 20% remained at the institute.
 
"We can envision a future in which machines can replace human labour and thereby thrive our species without the burden of employment," Beltran says. "But can also imagine a future in which our situation as an obsolete person becomes a problem, as there is a mismatch between overpopulation and low labour demand."

  Beltran who studied at the ArtScience Interfaculty in the Netherlands, tried explaining how the Institution of Human Obsolescence wasn't there to provide ready made solutions to these problems but rather stimulate the people to the possible consequences.

Labels: , ,

Bitcoin Exchange Suffers Ddos Attack After Unknown Men Kidnapped Its Director



Authorities in Ukraine and Russia have confirmed the kidnapping of a managing director of a cryptocurrency exchange called EXMO. The exchange a few days after the kidnap experienced a DDoS attack.

 According to Strana.ua, Pavel Lerner, 40, who is an IT expert and managing director at one of the largest cryptocurrency exchange called EXMO, was kidnapped on the Dec 26 in Kiev, Ukraine after a group of armed men in balaclavas dragged him into a black Mercedes-Benz near his work place.

confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of https million to the kidnappers. Click here to read.

However, it wont be the first time that someone has been abducted due to his involvement with cryptocurrency. Some weeks ago, a man in New York was abducted at gun point and then forced to give his pass key to his Ethereum cryptocurrency (Bitcoins rival) and as a result, confirmed the incident and assured that company operations were not affected.

"We are doing everything possible to speed up the search of Pavel Lerner. Any information regarding his whereabouts is very much appreciated," PR-department of EXMO said.

The company went on to add that Lerner did not have access to any cryptocurrency account or other personal account, assuring users of their funds.

"Despite the situation, the exchange is working as usual. We also want to stress that nature of Pavel'd job at EXMO doesn't assume access either to storages or any personal data of users. all users are absolutely safe."


DDoS Attack:

Two days after the kidnapping of Lerner, EXMO tweeted that its servers were under DDoS attacks and thus, its website was experiencing a down time.

"EXMO is under the DDoS attack. The site will be available within an hour. We apologize for the temporary inconvenience. sincerely, The EXMO Team,"

It is not clear if the cyberattack and kidnapping of Lerner are linked, and its not clear why Lerner who have led a couple of startups related to blockchain and cryptomining was abducted in the first place.

New update: Pavel has been released after paying a ransom of http million to the kidnappers. $1.8 million worth of Ethereum were stolen from his wallet.

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