Syscoin Blockchain Hacked, One Syscoin Sold at 96 Bitcoin

Earlier this morning, Syscoin's price started increasing abruptly. Single Syscoin was trading at 96 Bitcoin on Binance exchange. Due to this abnormal price rise, Binance halted all transactions.

Syscoin Blockchain Hacked

Both Binance & Syscoin tweeted on their official twitter handles & confirmed that Syscoin blockchain has been hacked.

Reportedly, one billion Syscoin was mined from a single block. But the fact is that Syscoin's total potential supply is 888 million. The company is looking in to the issue & confirmed that their blockchain is hacked. They also requested all exchanges to suspend any trading of their coins or tokens till the time the issue persists.

Major crypto exchange Binance suspended all trading due to this price manipulation of Syscoin. Syscoin, which was trading at $0.453292 was being sold for 96 Bitcoin.

Series of hack attacks on altcoins put all traders into a state of insecurity. It shows how less secure these currencies are. 

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