CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$47,680.00
  • ethereum
    ETH$1,506.68
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Market Declines as Korean Crypto Exchange Coinrail Faces Hack

    Market Declines as Korean Crypto Exchange Coinrail Faces Hack

    Author: Mandy Williams

    Last Updated Jun 10, 2018 @ 17:49

    The south Korean crypto exchange ‘Coinrail’ has reportedly been hit by hackers losing about 2.6 billion Pundi X (NPXS) and some other altcoins.

    The hacking incident occurred on Sunday, and the exchange confirmed the intrusion on a twitter post.

    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

    In a statement on its website, Coinrail has announced that it is currently reviewing its security systems due to the hacking attempts and was able to freeze the all  Pundi X (NPXS), NPER (NPER), and Artex Coin (ATX).

    The company said it has successfully secured 70% of the total coin/token and are in cold wallets.

    “At present, 70% of your coin rail total coin / token reserves have been confirmed to be safely stored and moved to a cold wallet and are in storage.

    Two-thirds of the coins confirmed to have been leaked are covered by freezing / recalling through consultation with each coach and related exchanges. The remaining one-third of coins are being investigated with investigators, relevant exchanges,  and coin developers,” the statement reads.

    Users are currently unable to access their accounts and other information on the website due to the ongoing investigation. The statement from the company is the only accessible information on the site.

    Dear Pundians, to help Coinrail to investigate an incident, we have halted all the NPXS transactions till 18:00:00 SGT (GMT+8) on June 10, 2018. http://t.co/gZB5S4Sjmh

    — Pundi X Official Account (Pls do not send ETH) (@PundiXLabs) June 10, 2018

    The hack triggered a sell-off in the crypto markets as Bitcoin quickly slipped from $7620 to $7207.19, a 5.6% drop within two hours and Ethereum dropping down by 5% within that time. At the time of writing, the market capitalization of all cryptocurrencies is  $317 billion down from $470 billion

    Coinrail Exchange – Not among the giants

    It is quite strange to see that the hack of the eight-month Coinrail could affect the crypto market. According to coinmarketcap, the exchange is currently at 94th position with a 24 hours trading volume of $2,656,683 at the time of writing.

    Indeed, the continuous growth in the cryptocurrency industry continues to breed more hackers and cybercriminals. Crypto exchanges, wallet providers, and investors have to take extra care in securing their digital asset.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


  • bitcoin
    BTC$47,680.00
  • ethereum
    ETH$1,506.68
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!