Bitcoin tumbles as hackers hit South Korean exchange Coinrail

South Korean Exchange Coinrail Hacked $40 Million in Crypto Reported Stolen

A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. Tron, which is one of cryptocurrencies hacked this time, dropped 16.12 percent to 52 won.

Coinrail has confirmed that it suffered a "cyber intrusion" and while it did not specify the value of the coins stolen, local news outlet Yonhap News estimated it to be $37.28 million based on a loss of about 30 percent of the coins traded on the exchange. Most other major virtual currencies also slumped, sending the market value of digital assets tracked by Coinmarketcap.com to a almost two-month low of $294 billion.

The exchange said that 70 percent of its coin and token reserves had been secured and two thirds of what had been stolen had since been frozen or recalled.

Investors and regulators were jolted earlier this year after Japan's cryptocurrency exchange Coincheck was hacked in a high-profile theft of over half a billion dollars worth of digital currency.

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

In a statement, a representative from the Korea Blockchain Industry Association, a self-regulatory group, revealed the exchange wasn't a member of the working group.

Daughter of US Envoy to Russia Apologizes for Calling Trump, Kim 'Dictators'
But the daughter of US Ambassador to Russia Jon Huntsman later apologised on air for what she had said . That, my friend, is a priceless moment to both witness and savor.

Royal Wedding: What Prince Harry whispered to Meghan REVEALED
She and Harry arrived at Buckingham Palace in the back of a auto before switching to their carriage for the big occasion. Birthday wishes have been flowing in for Prince Philip who turned 97 today.

Fleetwood Mac's Danny Kirwan Dies at 68
Mick Fleetwood paid tribute to the musician Friday, saying he received the "sad news" that Kirwan had died in London, England. Mick Fleetwood announced the passing of his bandmate, calling him a "huge force" for the iconic band's early years.

South Korea is one of the world's major cryptocurrency trading centres, and is home to one of the busiest virtual coin exchanges, Bithumb.

All assets of CoinRail, which have not been leaked, are moved to a cold wallet and are kept safe, and transactions and withdrawals will resume after stabilizing the service. "For the rest, we are investigating into it with an investigative agency, related exchanges and coin developers", it added.

The ISMS is a system that certifies protection of personal information at companies with average daily visitor of over 1 million.

Coinrail said in a statement on its website that it's inspecting its systems due to hacking attempts.

"We began the investigation immediately after receiving reports from the company".

Related news:

Hot News

isis-killer-beheading-video-story-top Woman drove 2 children in pet kennels in Tennessee
Jun 11, 2018 - 15:11
Footage has emerged of the moment at grandmother apparently let her grandchildren out of dog kennels in the back of her vehicle. Local 24 reporter, Annette Peagler went to Cheeks home and tried to get a comment from her family, but no one answered the door.

isis-killer-beheading-video-story-top Kim, Trump in countdown to historic summit
Jun 11, 2018 - 15:01
The Trump administration also launched the so-called "maximum pressure" campaign that sought to choke North Korea with sanctions. Authorities have beefed up security around the hotels where Trump and Kim (Saint Regis) will be staying in central Singapore .

isis-killer-beheading-video-story-top Iraq's parliament speaker calls for election rerun
Jun 11, 2018 - 13:28
The ballot boxes are needed for a manual recount of votes, mandated in a law passed by the Iraqi parliament on Wednesday. Jabouri's call was seconded by Vice President Iyad Allawi, the leader of the electoral alliance Jabouri ran as part of.

isis-killer-beheading-video-story-top Google Pixel 3: more features inside
Jun 11, 2018 - 13:20
After some digging in the SystemUIGoogle.APK file, the words "Crosshatch" and "Blueline" were found under the Active Edge section. Further, the folks over XDA are also suggesting that Google is looking forward towards building a glass back.

isis-killer-beheading-video-story-top Rafael Nadal vs Dominic Thiem, French Open 2018 men's final
Jun 11, 2018 - 12:15
This season no other player, not even the undisputed King of Clay, can count as many match wins on the red dirt as Thiem. Nadal needed five match points in a tense final game, eventually completing the job when Thiem fired a backhand long.

Microsoft Reveals Gears of War 5 And Two Side Games
Jun 11, 2018 - 12:00
Gears 5 shifts its focus to Kait Diaz, diving deeper into her background with a continuation on 2016's Gears of War 4 . That being said, if it is pretty much more of what we're used to ... well, there are much worse things.

DOOM Eternal announced at E3 with reveal trailer
Jun 11, 2018 - 11:58
The trailer's backdrop was that of a desecrated metropolitan city overcome by necrotic tentacles and debris. The Doomslayer will, in fact, be more powerful and the game will feature twice as many demons to deal with.

isis-killer-beheading-video-story-top China hosts Russia, Iran for summit as USA tensions rise
Jun 11, 2018 - 10:07
Putin said it was not Russia's decision to quit the G7, saying he would be happy to see G7 leaders in Russian Federation . At the Shanghai Cooperation Organisation (SCO) summit, Iran, Russia and Kazakhstan have vowed to uphold the deal.

isis-killer-beheading-video-story-top Microsoft Gears Up at E3 to Compete with Sony Single Player Success
Jun 11, 2018 - 09:37
More exciting still, the next generation of Xbox consoles are already being worked on. However, Microsoft didn't rely on multiplatform games this time around.

isis-killer-beheading-video-story-top Wolfenstein: Youngblood is a co-op shooter - plus Doom Eternal and Rage 2
Jun 11, 2018 - 09:32
During their E3 presentation , Bethesda made the surprise announcement that another Wolfenstein experience is on the way. As you can probably tell from the image above, Wolfenstein: Cyberpilot will be compatible with PlayStation VR.

isis-killer-beheading-video-story-top Tony Awards 2018: How to Watch, Who’s Presenting and More!
Jun 11, 2018 - 08:16
He added: "I am part of a cast of actors who never believed that they'd be able to portray their own races, and we're doing that". Robert DeNiro stunned the crowd at the Tony Awards Sunday by sending a profanity-filled message to President Donald Trump .

isis-killer-beheading-video-story-top Trump withdraws endorsement of G7 joint statement, slams 'weak' Trudeau
Jun 11, 2018 - 07:06
Kudlow said, Trump doesn't want "any show of weakness", any publicly-stated attempt to "push him around" beforehand. Trudeau, in Quebec City for bilateral meetings with non-G7 leaders after the summit, did not comment as he arrived.

isis-killer-beheading-video-story-top Trump, Kim arrive in Singapore ahead of high-stakes summit
Jun 11, 2018 - 05:31
But there is scepticism whether he will suddenly give up an arsenal in which he and his family have invested for decades. The 3,000-mile journey is the farthest taken by Kim since he took the helm as supreme leader of North Korea in 2011.

isis-killer-beheading-video-story-top Anthony Bourdain's dark and lonely final months
Jun 11, 2018 - 04:13
After Bourdain's death, Ms Hagerty thanked the chef for celebrating her work, rather than mocking her with the rest of the world. If you or someone you know is considering suicide, call the National Suicide Prevention Lifeline day or night at 1-800-273-8255.

isis-killer-beheading-video-story-top LeBron James rumors: Writer who broke story in 2014 says LeBron gone
Jun 11, 2018 - 04:10
A man holds up an image of Cleveland Cavaliers' LeBron James as Warriors fans celebrate outside Oracle Arena in Oakland. Then if you start looking at his Finals record, his last three losses were far from an indictment of his play.