Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies.
The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline.
Court documents said investigators were able to access the password for one of the hackers’ bitcoin wallets. The money was recovered by a recently launched task force in Washington created as part of the government’s response to a rise in cyberattacks.
Bitcoin accelerated its slide to fall below the $32,000 level late Tuesday morning. The world’s largest cryptocurrency then recovered slightly, trading 9% lower at $32,854.99 as of 4:01 p.m. ET.
Smaller digital coins also slumped, with ether falling about 8% to $2,499.28 and XRP tanking over 7%
Reference: CNBC
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