The Irish crypto exchange Bitsane vanished from the internet last week, and with it the 246,000 users’ cryptocurrencies, Forbes reports.
The crypto exchange was founded in 2016 and was one of the exchanges where Ripple’s cryptocurrency xrp could be traded before it came out on large exchanges such as Coinbase.
A large part of the money that has now disappeared was in xrp, although bitcoin and other cryptocurrencies have also disappeared.
The exchange’s owner also vanished
According to figures from Coinmarketcap, cryptocurrencies were traded at a value of approximately $7 million a day at Bitsane, but it is unclear exactly how much money has disappeared.
The owners of the crypto exchange have also disappeared, Forbes reports.
Thefts and hacks are a major problem for the crypto industry. The other day, Trijo News reported that large quantities of xrp and cardano were stolen from an exchange in Singapore.
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