Bitcoin Falls on $31 Million Hack of Cryptocurrency Peer Tether

Bitcoin slipped from a record after the $31 million theft of a cryptocurrency peer renewed concern about the security of digital coins.

The company behind tether, a cryptocurrency used by bitcoin exchanges to facilitate trades with fiat currencies, announced the theft on Tuesday. It said in a statement that a “malicious” attacker removed tokens from the Tether Treasury wallet on Nov. 19 and sent them to an unauthorized bitcoin address. The company said it’s trying to prevent the stolen coins from being used.

Bitcoin dropped as much as 5.4 percent to $7,798.73, before paring the decline to 0.7 percent at 11:32 a.m. in London…

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