Bitcoin tests $78,000; hacks hit projects; Russia backs penalties for illicit crypto exchange.

Bitcoin tested $78,000, crypto projects faced a fresh wave of hacks, Russia proposed penalties for illegal exchange of digital assets, and other events of the week.

Cautious optimism in the market

Over the past seven days bitcoin extended its uptrend and held above key support. Monday opened with a drop to $71,000 amid reports that US–Iran talks had collapsed.