South Korea: Bitcoin hits 2-month-low after hackers steal one-third cryptocurrency
A South Korean cryptocurrency exchange Coinrail said hackers have stolen about one-third of the coins traded on its market including Pundi X, Aston and NPER, an announcement that sent Bitcoin prices tumbling to a two-month low. According to sources, coins worth about $37mn were lost. If true, that would make it the biggest cryptocurrency theft reported to date in South Korea. Here's more.
Coinrail was seventh largest exchange in South Korea
Bitcoin was trading at $6,780 yesterday, down from over $7,500 before the weekend, according to Coindesk, which monitors its prices. Coinrail said it was cooperating with police and suspended trading. Coinrail, launched in September, was the seventh-largest exchange in South Korea by trading volume. South Korea has seen a craze over cryptocurrencies, prompting authorities to frame stern-regulations. Cryptocurrencies are popular among young investors.
