IOTA Latest Update – IOTA Relaunched After a Dreadful Hack Attack – March 11th, 2020

  • Users Affected By Attack To Be Compensate
  • IOTA Price Analysis – Price recovery impending once $0.2000 level is broken

IOTA News Update – IOTA recently relaunched after suffering from a dreadful attack from hackers. According to the announcement, the Coordinator node used in confirming transactions, which also serves as a security guard against hackers has been restored. The press release went thus:

“We are delighted to announce that the Coordinator has been resumed. Read about the steps taken to protect Trinity users, the role of the Coordinator & the future development of IOTA.”

Users Affected By Attack To Be Compensated

IOTA News Today – Previously the IOTA Coordinator node was attacked; the attack exploited a weakness in the Trinity Wallet and caused users close to $2 million. This attack forced developers to successfully halt the network to prevent any further losses until the issue was sorted. It took IOTA close to a month fix the issue and relaunch the Coordinator node.

IOTA Latest Update – The Co-founder of IOTA David Sonstebo offered to compensate all users who were affected by the Hack attack. For now, the developing team has urged all Trinity Wallet users to utilize the seed migration tool to safeguard their coins.

IOTA Price Analysis – price recovery impending once $0.2000 level is broken

IOTA Price Analysis – IOT/USD pair is currently trading at $0.1973, the coin is 25% higher from the major levels established at the start of the year. On March 9, 2020, IOTA dropped at $0.1783, amid major sell-off on the cryptocurrency market due to global risk-aversion.

IOTA Price Update – Going by the RSI on the daily chart, the price has commenced reversal from the oversold territory. The upside trend seems positive, though a sustainable move is required above $0.2000 to trigger the first bearish trend and open the doors for further price recovery. As soon as the barrier is cleared, the upside trend might gain momentum with the next aim on a major resistance established by both the SMA100 daily and the middle line of the daily Bollinger Band at $0.2275.

IOTA (MIOTA) Price Today – MIOTA / USD

NamePrice
bitcoin
Bitcoin
$13,090.82
iota
IOTA
$0.288

IOTA Price Analysis – On the downside, early support is established by $0.1900, if this barrier is broken, the sell-off may prolong towards the new low of $0.1783. if this happens, the token will be retesting the December 2019 low of $0.1485, followed by the lower line of the weekly Bollinger Band at $0.1420.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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