Categories: Exchanges

Hackers snatch South Korean exchange’s tokens

The exchange, which has suspended trading for the time being, also says it is cooperating with police in regards to an investigation.

Various media reports that linked the plunge in value of most cryptocurrencies to the hack, claimed the cyberthieves got their hands on about $40 million worth of tokens. Coinrail said the cyber intrusion resulted in the theft of a range of ERC-20-based coins, including Pundi X’s NPXS, Aston’s ATC and NPER’s token NEPR. However, most experts believe the plunge has more to do with the US investigation into price manipulation by cryptocurrency exchanges Coinbase, ItBit, Kraken and Bitstamp.

Coinrail says that the rest of its cryptocurrency reserves have been moved to a cold wallet, where they are completely safe. It has detected suspicious accounts that attempted to sell millions of tokens: “Fake_Phishing1432” and “ Fake_Phishing1431”.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.