Bitcoin crashes to a two-month low after this 'heist'

LLB Reporter

Source: @Photoshot

$37.28m worth of virtual coin stolen

Bitcoin crashed to a two-month low of $6,840 following a “cyber intrusion” on a South Korean cryptocurrency exchange on Sunday.

Coinrail, a relatively small South Korean cryptocurrency exchange, said in a statement today that hackers stole about one-third of the coins traded on the exchange. While it did not quantify its value, an unsourced report local news outlet estimated that about $37.28m worth of virtual coins, ICO-issued tokens that aren’t bitcoin or Ethereum, were stolen.

South Korea is one of the world’s major cryptocurrency trading centers, and is home to one of the most heavily trafficked virtual coin exchanges, Bithumb.

Coinrail said it was cooperating with police and suspended trading.

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