What the Coincheck hack tells us about the current cryptocurrency market

It tells us that things are very different than they were just a few short years ago when Mt.Gox was hacked for a similar amount of money

(EYER)

The last time a major Japanese cryptocurrency exchange was hacked for a record amount of money, it took almost 2 years for prices to fully recover.

Those affected were never paid back and the exchange was made insolvent basically by the next day.

Over the coming months, the price of bitcoin plummeted by around 90% from peak to trough and altcoins were smashed equally as hard.