Home Altcoin News South Korean cryptocurrency change hack sees $40m in altcoin stolen

South Korean cryptocurrency change hack sees $40m in altcoin stolen

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A South Korean cryptocurrency change has suffered a hack and misplaced some 30 p.c of its coin stock.

Coinrail said on its homepage it was attacked on Sunday and misplaced Pundi X, Aston, and Nper. The cash have been price some US$40 million, according to local reports.

It mentioned 70 p.c of its stock was protected and was moved to chilly wallets.

Two thirds of the leaked cash have been frozen and the corporate was being recovered. Pundi X was confirmed to be saved at one other change, IDEX, and frozen.

Share costs of the hacked cash fell 10 p.c early Monday following the information.

Hacking of cryptocurrency exchanges is nothing new. In December, Bitcoin mining platform and change NiceHast suffered a hack and $68 million worth of coins were stolen.

An estimated $400 million has been stolen or lost by hacks in ICO occasions between 2015 and 2017, in line with Ernst & Younger.

In April, a CEO of a Korean exchange was arrested for alleged fraud.

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