Bitcoin Crashes After Cyberattack

Another day, another crypto hack. This time it’s Korea, the crypto-mad Asian country, where an exchange called Coinrail lost more than $40 million in altcoins, ICO-issued tokens that aren’t bitcoin or Ethereum, after it was hit by an apparent attack over the weekend.

Korea may be a hot spot for crypto investment, but Coinrail is one of its smaller exchanges, just about ranking inside the world’s top 90 based on trading volume, according to coinmarketcap.com. Nonetheless, even the smaller exchanges have plenty of coins, as the size of this heist illustrates.

Most notably, the hackers got away with $19.5 million-worth of NPXS tokens that were issued by payment project Pundi X’s ICO. Added to that they scored a further $13.8 million from Aston X, an ICO project building a platform to decentralize documents, $5.8 million in tokens for Dent, a mobile data ICO, and over $1.1 million Tron, a much-hyped project originating from China.

 

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