Bitcoin falls after Korean exchange loses $40M following hack attack

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Coinrail, a South Korea-based cryptocurrency exchange has suffered a massive hack attack in which hackers have stolen over $40 million in tokens and altcoins on Sunday.

The hack has also caused a decrease in Bitcoin’s price – At the time of publishing this article, 1 Bitcoin was around $6,781.

Although it is unclear how the hack attack took place according to an official statement by Coinrail on its website the company acknowledged the hack without giving any further information on the total value of the stolen cryptocurrency.

However, according to this wallet address, the stolen currency includes NPXS worth $19.5 million from Pundi X’s ICO, $13.8 million from Aston X’s ICO project, $5.8 million in tokens for Dent and $1.1 million Tron.

Bitcoin falls after Korean exchange loses $40M following hack attack

Coinrail said it is investigating the issue and reviewing the targeted system and all ATX, NPXS and NPER coin that were exposed have been successfully frozen while other cryptocurrencies are currently stored in a cold wallet.

“We are currently in the process of checking the server to provide a stable service environment.

The system is being checked for hacking attempts.

Some coins (Fund X, NPXS) have been identified and are being checked for additional coin damage. Currently, coins are under negotiation to prevent damage, and some coins may not be able to transmit to the network,” the statement said.

“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.”

Pundi X, on the other hand, after receiving an email request from Korean Police have halted all the NPXS transactions until further notice after receiving an email request from Korean Police.

Bitcoin falls after Korean exchange loses $40M following hack attack

It is noteworthy that this is the second cryptocurrency related hack attack in one week. On June 6th, a Japanese Syndicate Wallet was compromised which allowed hackers to steal over $10 million dollars in a variety of tokens, including Ethereum, Level Up, Orbs and Shopin Token have been stolen.

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