Coinrail is one of a leading crypto currency exchange of South Korea. It has revealed that a hacking attempt was made on exchange on Sunday, June 10 however 70% of total coins on exchange remained safe from the hack. 2/3rd of the coins got leaked.
The cryptocurenncy market is already unregulated and its price is highly speculative. The hack brought a bad news for market and investors are worried for security of their assets. The hack resulted in 5-10 percent decline in price of Bitcoin, Bitcoin Cash, Ethereum, Ripple and other crypto currencies. Bitcoin price reduced from $7,600 to $7,300 within 30 minutes. The price is being volatile with a trading range within $100 over the past 15 hours.
The other top 9 cryptocurrencies by market cap also dropped by 5-10%.Last year in same time frame [July] Bithumb, another South Korea’s cryptocurrency exchange was hacked and information of well over 31,800 customers was compromised. In December 2017 Youbit, exchange of South Korea was hacked. Over 4,000 Bitcoins of $48 million worth were stolen.
The cryptocurenncy market is already unregulated and its price is highly speculative. The hack brought a bad news for market and investors are worried for security of their assets. The hack resulted in 5-10 percent decline in price of Bitcoin, Bitcoin Cash, Ethereum, Ripple and other crypto currencies. Bitcoin price reduced from $7,600 to $7,300 within 30 minutes. The price is being volatile with a trading range within $100 over the past 15 hours.
The other top 9 cryptocurrencies by market cap also dropped by 5-10%.Last year in same time frame [July] Bithumb, another South Korea’s cryptocurrency exchange was hacked and information of well over 31,800 customers was compromised. In December 2017 Youbit, exchange of South Korea was hacked. Over 4,000 Bitcoins of $48 million worth were stolen.
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