Cryptocurrencies turn downward early Thursday morning
Bitcoin, Ethereum and Dogecoin each trading below 5%
Cryptocurrency prices were down from earlier highs Thursday morning.
Bitcoin was trading at approximately $36,415, down more than 5.3%, while Ethereum and Dogecoin were also in the red, trading at approximately $2,600 (-6.05%) and 13.5 cents (-6.06%), respectively.
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On Wednesday, One of the most popular cross-blockchain bridges may have been the victim of a hack worth over $326 million on Wednesday, Coindesk reported.
In a tweet, the project’s official Twitter handle confirmed the bridge is currently down while the team investigates a potential exploit, and the official website simply reads, "Portal is Temporarily Unavailable."
Cryptocurrencies are trading lower early Thursday morning
On-chain analysts called attention to an 80,000 ether (ETH) transaction from Wormhole to an address currently in possession of over $250 million worth of ETH, the report said. According to another developer, the attacker also kept 40,000 ETH on Solana, where they have been selling for other assets.
In other cryptocurrency news, Bitcoin (BTC) and the broader crypto market faced heavier selling pressure in late U.S. trading hours on Wednesday, ending the oldest cryptocurrency’s two-day winning streak, Coindesk reported.
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The late afternoon price drop in crypto came after Meta Platforms (formerly Facebook) delivered disappointing Q4 earnings with weak guidance for the current quarter. Meta shares dropped by more than 18% in extended trading on Wednesday.