Korean Crypto Exchange Coinrail was Attacked by Hackers, Loses over $40M in Tokens
Do Son On Sunday, Coinrail, the South Korean cryptocurrency exchange, said that the system suffered network intrusions, which caused Bitcoin to fall for three consecutive days. Bloomberg quoted Bitstamp data show that as of 4 pm, the New York market bitcoin prices have dropped to $6840, hitting the largest decline since March 14th, the bitcoin this year’s loss to expand to 52%.
The transaction prices of Ethereum and Ruibo, which are cryptocurrencies, fell by 10% and 11% respectively.
A statement on Coinrail’s official website confirmed that some of the exchange’s digital currency appeared to have been stolen by hackers but did not mention specific amounts. Coinrail said only that it is working with survey agencies and other exchanges to chase the perpetrators and recover their losses.
The core security problem of digital currency is that the currency itself usually only represents a unique numeric code, which means that once the data is stolen, its owner information will be erased.
Coinrail said that in order to prevent hacking, the company is reviewing the system. According to the deal, all digital currencies such as NPXS, NPER, and ATX have been successfully frozen at risk of being stolen. Other cryptocurrencies are now stored in a private wallet.
According to statistics of Coinmarketcap.com, Coinrail Exchange covers more than 50 different cryptocurrencies, ranking 90th in the global market for similar transactions, and trading volume of approximately US$2.65 million in 24 hours.
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