Bitcoin soars to new high above $8,300 after $30 million crypto hack

  • Bitcoin soared to a new all-time high Tuesday above $US8,300 per coin.
  • The coin recovered losses it incurred after a different cryptocurrency announced a $US30.9 million hack.

Bitcoin‘s upward climbed continued unabated Tuesday morning.

The cryptocurrency blew past Monday’s record high of $US8,285 to $US8,368 Tuesday morning, trading up 1.24%. It gave up some of those gains and was trading at $US8,289 just before noon ET.

The coin was sent in a tailspin after news broke that cryptocurrency firm, Tether, was hacked.

Tether, which created a cryptocurrency called USDT that is pegged to the dollar, said in a blog post on Tuesday that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker.”

The company said $US30,950,010 was taken Sunday.

Th news dragged the price of bitcoin down by nearly $US450 early Tuesday, according to CoinDesk data.

This post has been updated from its original version.

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