Crypto Crash: Russia Wants to Ban Mining; Crypto.com Confirms Hack By Investing.com

By Laura Sanchez

Investing.com – The cryptocurrency sector has fallen sharply since last night, wiping out almost $150 billion from the market, according to Coinmarketcap.com.

it falls 9% in the week and 15% so far this month. , meanwhile, loses 13% weekly and 21% this month.

Added to this is the fact that yesterday the Central Bank of Russia proposed to ban the use and mining of cryptocurrencies. Russia is one of the top bitcoin mining locations in the world.

And, as if that were not enough, the cryptocurrency exchange Crypto.com confirms the hack that it has suffered this week that has affected about 500 users.

However, from Crypto.com assure that their clients’ funds were not compromised because the transactions were mostly blocked; and in the remaining cases, the crypto assets were reimbursed.

As a general trend, more and more experts link the volatility of the crypto sector to the general swings of the stock market.

The bearish sentiment coincides with the falls on Wall Street. He is down 5% this week and he is on his third straight week of losses.