South Korean exchange Coinrail reports cryptocurrency theft after hack

South Korean exchange Coinrail, a relatively small player, has revealed that an unknown person has stolen several tokens. According to various sources, the value amounts to about 40 million dollars, or 33 million euros.

Coinrail writes on its site that an incident took place on June 10, in which an unknown person stole the currencies npxs, atx and nper, among other things. The company does not mention amounts, but various media mention amounts between 30 and 40 million dollars. The address allegedly used by the attacker shows several transactions. Among them, among other currencies, are the currency names mentioned by Coinrail. Pundi X, which the token npcs belongs to, says about 2.6 billion of its tokens have been stolen. That would equate to 3 percent of its total inventory.

Coinrail is not disclosing any details about the circumstances of the incident, saying only that “70 percent of its total reserves have been safely stored and moved to a cold wallet.” In addition, two-thirds of the stolen currency has been secured through freezes and chargebacks, the exchange claims. Coindesk writes that at the time of the incident, Coinrail was ranked 90th on Coinmarketcap in the ranking of trading volume by exchange.

At around the time of the incident, the bitcoin price fell sharply from around 6100 euros to around 5700 euros at the time of writing. Bloomberg writes that some attribute the price drops, which are also seen in other currencies and would total $42 billion, to the hack, while others blame China’s policy towards exchanges. It is not the first time that an exchange has been hit by a hack. This happened this year, for example, at the Japanese Coincheck and the Italian BitGrail. Earlier, an incident occurred at Bithumb.