The cryptocurrency market, particularly bitcoin, is suffering heavily this morning, with almost $17 billion being wiped clean off the market in 24 hours.
BTC has dropped 6.54 percent today to trade at $6,291.80 as of 3pm today.
The market is seeing significant losses as well, losing much of the gains made over the last few days.
Ethereum is trading 10.90 percent down at $475.65, with Ripple trading for $0.502136. Litecoin is down to $87.56.
Several widespread hacks have seen investors selling off their coins to keep their money safe, with exchanges cracking down and money laundering schemes.