Bitcoin's price has fallen to $6,627 (on the Bitstamp exchange) on the news of a hack of a major cryptocurrency exchange in South Korea — Coinrail. The cryptocoin's value has reached a two-month low, losing $500 in just an hour, The Guardian reported.
READ MORE: Cryptocurrencies Fall Under US, Japan Regulatory 'Barrage,' Exchange Hack
Coinrail released an official statement on June 10 saying that a "cyber intrusion" had taken place, leading to a loss of 30% of its total coins in trade. The rest of the coins were then moved to a safe "cold valet," which is disconnected from the internet.
해킹공격시도로 인한 시스템 점검중입니다. 일부코인(펀디엑스,NPXS)이 확인되었으며 추가적인 코인피해가 있는지 여부를 확인중입니다. 추후 자세한 사항은 재공지하겠습니다 / There has been an cyber intrusion in our system. We're confirming it and some coins(Pundi X, NPXS) are confirmed.
— coinrail (@Coinrail_Korea) June 10, 2018
Although the exact amount of the coins stolen was not specified, local news outlet Yonhap has suggested that the total value of stolen cryptocurrencies is estimated at $37.1 million. Another local media platform, the Korea Herald reported that police had begun an investigation and had already managed to secure the access history of Coinrail's servers.
The total hacked coins worth 50mil dollars.. #Coinrail $storm $trx $npxs pic.twitter.com/lCovDrHq89
— corinipeatry (@peatrykim) June 10, 2018
Bitcoin Tumbles After Major Crypto Exchanges Subpoenaed For Manipulation, Coinrail Hacked https://t.co/4lqVeLUlNM
— zerohedge (@zerohedge) June 10, 2018
The Coinrail hack is just one in a recent series of exchange "cyberrobberies." In January 2018 some $500-worth of cryptocurrency was stolen as a result of a hack on Japan-based exchange Coincheck, which led to a severe drop in market prices for various digital currencies and toughening of the country's policies towards cryptocurrency exchanges.
