Steemit Starts Post-Hack Account Recovery as Steem Market Cap Tops $380m

 The value of the Steem cryptocurrency has increased by over 40% in the last week.  

 Steemit, the decentralized social media platform rewarding users for  their work with cryptocurrency, has announced that account recovery is  now available for affected members following last week’s cyber attack. 

 The hacking was rather minor compared with other attacks on  cryptocurrency firms with fewer than 260 accounts compromised, and less  than $85,000 worth of Steem stolen. Despite this, the platform has taken  a proactive approach, quickly notifying all clients they will be  reimbursed in full and contacting relevant legal authorities for help,  including the FBI. 

 Now Steemit CEO Ned Scott writes: “The Steemit team is finalizing its  analysis of the cyber attack and determining exactly how much Steem and  Steem Dollars were stolen from each account. Once we have completed the  full account of lost tokens, we will reimburse every compromised user as  promised.” 

 As for the Steem cryptocurrency, it has increased by over 40% in the last week after it already jumped over 1250% since its first payout.  The total market capitalization of Steem has surged from $260 million  last Wednesday to a height of $381 million right now, cementing its  place as the 3rd most valuable cryptocurrency above Ripple and Litecoin.  At about $3.3 million, Steem’s daily trading volume is about double  that of Ripple and Litecoin combined, while still very much dwarfed by  those of Bitcoin or even Ethereum.