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Major Korean Cryptocurrency Exchanger Reported $40 Million Theft

Major Korean cryptocurrency exchange platform, Coinrail recently announced about becoming a victim of a significant hack on Sunday, June 10. As reported by the exchanger, the amount of the loss was worth in total of about $37.2 million.

One day after the hack, on June 11, Coinrail confirmed in the company blog that the platform suspended its services earlier on Sunday morning.

Although the exact stolen amounts were not disclosed by the company officially, Coinrail revealed some of the tokens which were stolen. According to the official information the stolen tokens included ERC-20 tokens, namely NPXS tokens from Pundi X, a payment project; ATC from Aston X, a decentralized document project and; NPER tokens from the namesake decentralized IP project.

It was also revealed that the largest hit was made on Pundi X where the hackers were able to steal in total of 2,619,542,080 NPXS tokens. This is approximately worth $19.5 as of current rate of the cryptocurrency. In addition, approximately $13.8 million loss in ATX tokens and nearly $6 million in ATX tokens were also disclosed to be stolen. Number of other tokens from the major projects such as: Jibrel Network, Storm, Kyber Network, B2BCoin as well as over $1 million in TRX tokens of Tron were also reported. According to the source, the total value of the stolen tokens exceeded $40 million.

Further on, the hacker reportedly made an attempt to sell 26 million NPXS tokens at decentralized ERC-20 exchange IDEX. However the platform was successful to freeze those coins before they were liquidated. At the same time, Pundi X confirmed the information about instigated own ‘emergency security protocol’ in order to halt all NPSX transactions. Other stolen tokens as well have been sent to another decentralized exchange EtherDelta, as reported by etherscan.io.

According to Coinmarketcap Coinrail was the world’s 90th largest crypto trading platform as of Sunday.

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  1. Pingback: Major Korean Cryptocurrency Exchanger Reported $40 Million Theft - Ripple XRP News and Guide

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