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Bitcoin at 2-month low after South Korean exchange hacked

/ 12:37 PM June 11, 2018

Image: AFP PHOTO / Justin TALLIS

SEOUL, South Korea — A South Korean cryptocurrency exchange said hackers have stolen about one-third of the coins traded on its market.

Coinrail’s announcement on Monday sent bitcoin prices tumbling to a two-month low.

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Coinrail said hackers stole cryptocurrencies including Pundi X, Aston, and NPER. It did not give the value of the stolen coins but Yonhap News agency cited unnamed industry sources saying about coins worth about 40 billion won ($37 million) were lost.

Bitcoin was trading at $6,780, down from more than $7,500 before the weekend, according to Coindesk, which monitors prices.

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Coinrail said it was cooperating with police and suspended trading.  /kga

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TAGS: Bitcoin, Business, Coinrail, cryptocurrency, Hacking, Trade
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