Home CryptoCurrency News Coinrail hacked - the Korean exchange loses more than 40 million in...

Coinrail hacked – the Korean exchange loses more than 40 million in cryptocurrencies

Coinrail, the Korean exchange, confirmed last Sunday, June 10, that it had suffered an attack where more than 40 million ERC20 tokens have been stolen. The affected cryptocurrencies, as indicated from the platform, have been: Pundi X (NPSX), NPER (NPER) and Aston (ATX).

As security measures until this is resolved, Coinrail has placed its exchange in maintenance and have frozen 70% of the total reserves of their wallets in cold wallets for their protection.

According to reports from Coinrail, the remaining 30% of cryptocurrencies are being analyzed through researchers, coin developers and exchanges.

On their Twitter account they kept all users of the platform informed about the actions taken and the progress made.

Coinrail reports from its official Twitter account:

“We are checking the system for an attempted piracy that has been identified in the currency (Pundi X, NPXS) and are also are checking if there are damages in other currencies. We will give more details in the future. Confirmed some coins have been subtracted (Pundi X , NPXS) “

Other messages of interest sent from the official Twitter have been:

“The entire volume of stolen NPER (NPER) has been frozen. In cooperation with the NPER team the total amount has been recovered. CoPER rail NPER assets are safe.”

“We confirm that the subtracted Pundi X (NPXS) have been deposited in the IDEX exchange, and all of them were frozen in cooperation with the exchange. Please note that this amount is not available for transactions and transfers.”

“Immediately after confirming the Aston leak, we froze the total amount in cooperation with the Aston team.”

In the last message sent from the company, they indicate that with the cooperation of the research agency, other exchanges and coin developers, they managed to recover two thirds of the total amount of coins extracted.

Pundi X

pundi x hacked in coinrail

In an article by Medium, Pundi X communicate the collaboration they are taking along with Coinrail to investigate the subtraction of cryptocurrencies, and report that the amount of Pundi X sent without permission to the IDEX platform amounts to 2,619,542,080 NPXS tokens.

They also reassure the owners of their tokens by ensuring that only the coinrail coins have been affected and the rest of the platforms is completely safe, and they add that Pundi X has not been hacked, only Coinrail.

Possible impact on the market

A hack always makes new investors suspicious. If we also add to this news that the US Commodities Futures Trading Commission (CFTC) has opened an investigation to 4 major exchanges for the possible manipulation of the cryptocurrency market, this information could be partly responsible for the massive price drop in the cryptocurrency market.

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