Monday, 11 June 2018

Major heist at South Korean cryptocurrency exchange sends bitcoin tumbling.

An illustration of Bitcoin standing on a PC
motherboard on Oct. 26, 2017.Dado Ruvic / Reuters file
The hack comes amid renewed concerns about security at virtual currency exchanges as policy makers struggle to regulate trading in the digital asset.

South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset.

In a statement on its website on Monday, Coinrail said its system was hit by "cyber intrusion" on Sunday, causing a loss for about 30 percent of the coins traded on the exchange. It did not quantify its value, but in an unsourced report local news outlet Yonhap news estimated that about 40 billion won ($37.28 million) worth of virtual coins were stolen.




Full story at NBC News.




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