Cryptocurrencies tumble after S Korea hack

11 June, 2018, 15:23 | Author: Regina Silva
  • Cryptocurrencies tumble after S Korea hack

Bitcoin has once again demonstrated its volatility, dropping in value by 10 percent following news of an attack and theft from the South Korean exchange Coinrail. It did not quantify its value, but in an unsourced report local news outlet Yonhap news estimated that about 40 billion won ($37.28 million) worth of virtual coins were stolen. Most other major virtual currencies also slumped, sending the market value of digital assets tracked by Coinmarketcap.com to a almost two-month low of $294 billion. The latest to fall victim is the South Korean cryptocurrency exchange, Coinrail.

The hacking attack on Coinrail comes after Japan's cyrptocurrency exchange Coincheck was hacked earlier this year in a high-profile theft of its digital currency.

The hack brought an abrupt end to two weeks of calm for the biggest virtual currency and reignited concerns about the security of lightly regulated crypto exchanges.

Coinrail was mostly trading ERC20 tokens, according to CoinMarketCap.

The frozen tokens are Pundi X (NPXS), Aston (ATX) and Nper (NPER), according to the local crypto exchange. "It is a minor player in the market and I can see how such small exchanges with lower standards on security level can be exposed to more risks", Kim Jin-Hwa, a representative at Korea Blockchain Industry Association. South Korea has been the third largest market for Bitcoin trading in the world after Japan and the U.S. and has also suffered several major exchange hacks resulting in both fear driven activity on the trading side and calls for more stringent regulation from the government.

North Korean leader, Singapore’s PM discuss Korean Peninsula situation
Donald Trump is promising big things can happen to the North Korean economy in return for moving away from its nuclear programme. He said that those talks "in fact are moving quite rapidly and will come to a logical conclusion more quickly than anticipated".


US President Trump arrives in Singapore for historic Trump-Kim summit
But US Secretary of State Mike Pompeo said the two-hour meeting on Monday morning was "substantive and detailed". How long will it take to figure out whether or not they are serious? "I said maybe in the first minute".


Royal couple Harry and Meghan coming to Australia in October
Harry and Meghan's first major tour as husband and wife will be in October as part of Harry's Commonwealth Youth Ambassador role. The event was attended by other senior royals including the Queen , Prince Charles and the Duke and Duchess of Cambridge.


First of all, CoinRail cooperates with the investigating agency as much as possible to protect your assets as much as possible and to hackers as a criminal measure in order to minimize and recover the damage.

The remaining coins within Coinrail seem to have been secured by Coinrail through the migration of assets onto cold storage wallets.

The price plunges were also linked to a report on Friday from the Wall Street Journal (paywall) that United States regulators are investigating four major crypto exchanges, including Coinbase and Bitstamp, for price manipulation.

"We began the investigation immediately after receiving reports from the company".

Recommended:

  • Halo Infinite Revealed For Xbox One

    Halo Infinite Revealed For Xbox One

    Ubisoft revealed that Division 2 would arrive on PS4, Xbox One and PC, but it was Microsoft that got to show it off properly. Three years later, Xbox's backward compatibility for older games has become one of the console's defining features.
    North Korean public largely in the dark about historic summit with Trump

    North Korean public largely in the dark about historic summit with Trump

    Mr Trump has not approached the North Korea crisis with kid gloves and seems unlikely to adjust his tactics now. North Korean soldiers keep watch toward the south in the village of Panmunjom, South Korea, on April 17.
    Mesut Ozil doubtful for World Cup

    Mesut Ozil doubtful for World Cup

    "We don't want to take any risks tomorrow", Germany team manager Oliver Bierhoff told a news conference. Sane was at a bigger club, with bigger expectations, with better players.
  • Key Donald Trump advisers attack ‘back stabber’ Justin Trudeau

    Key Donald Trump advisers attack ‘back stabber’ Justin Trudeau

    But unity was torn apart when the USA president took exception to Mr Trudeau calling United States policy "insulting". Canadians are polite, we are reasonable, but we will also not be pushed around".
    The Elder Scrolls 6: Trailer for Skyrim Sequel Revealed

    The Elder Scrolls 6: Trailer for Skyrim Sequel Revealed

    More than likely, if mods are available for Fallout 76 , we'll have to download them from Bethesda's Creation Club storefront. It has a couple of modes: The Abyss is a roguelike endless dungeon; Arena is 1-on-1 combat; and you can build a town as well.
    Trump’s calling Trudeau ‘dishonest and weak’ sparks calls for calm

    Trump’s calling Trudeau ‘dishonest and weak’ sparks calls for calm

    But even those vested in Canadian trade are not expected to come to Trudeau's defence as long as the USA economy is roaring. Kudlow said the USA participated in G7 talks and bilateral talks on Nafta in good faith and that Trump had been "charming".
  • Capcom Have Finally Revealed Devil May Cry V

    Capcom Have Finally Revealed Devil May Cry V

    But at Microsoft's E3 2018 event , Nero and Dante made a triumphant, and predictably ridiculous, return to the spotlight. A battle of good and evil - A demonic invasion begins with the seeds of a "demon tree" taking root in Red Grave City.
    Trump insists G7 trade talks 'extremely productive'

    Trump insists G7 trade talks 'extremely productive'

    John McCain believes it. there's a movement all over the world to look inward, not outward, and I think it's a mistake. And what did Trudeau do as soon as the plane took off from Canadian airspace, Trudeau stuck our president in the back.
    From Software's Sekiro: Shadows Die Twice Set To Come Out 2019

    From Software's Sekiro: Shadows Die Twice Set To Come Out 2019

    From Software has announced a brand new samurai game titled Sekiro: Shadows Die Twice , published by Activision . Yes, that's the bony, bloody contraption shown in Sekiro's original teaser trailer from The Game Awards 2017 .
  • Tales of Vesperia: Definitive Edition Confirmed For Nintendo Switch

    Tales of Vesperia: Definitive Edition Confirmed For Nintendo Switch

    The fates of two friends traveling separate paths intertwine in an epic adventure that threatens the existence of all. A PS3 version released exclusively in Japan a year later had some extra content that never made its way to the west.
    By the numbers - Rafael Nadal 86-2 at Roland Garros

    By the numbers - Rafael Nadal 86-2 at Roland Garros

    Rafael Nadal described his performance at the French Open previous year , when he didn't surrender a set, as "perfect". Nadal, 32, won 6-4 6-3 6-2 to earn his 17th Grand Slam, three adrift of Roger Federer's all-time men's record.

    Iraqi ballot box storage site catches fire in Baghdad

    A thick cloud of black smoke billowed in the background as Maan showed the complex, which contains a number of smaller warehouses. Fewer than 45 percent of voters cast a ballot, a record low, and allegations of fraud began nearly immediately after the vote.


Popular

Gears Of War Pop! And Gears Tactics Coming To Mobile Phones
Gears 5 will also be enhanced for Xbox One X, supporting 4K resolution and High Dynamic Range (HDR) at 60 frames per second (FPS). Finally, we come to the star of the trio, Gears 5 . "Play solo or with a friend in local split-screen co-op, or online co-op".

DLC, New Game Plus Coming to Arkane Studios’ ‘Prey’
Essentially, it's going to be a higher budget, more elaborate Prop Hunt , and I'm certainly looking forward to it. The new DLC showcases how every way you play the game is unique and yes you'll be heading to the moon. kind of.

DOOM Eternal Announced, First Trailer Online
The name is interesting; we're not sure if it's a straight sequel to the last game, or if it's something more, like an open world, perhaps.

Wolfenstein: Cyberpilot announced for PlayStation VR, PC
In this mode you'll play as a TranStar employee and solve various puzzles in the Talos I environment. At Bethesda's E3 2018 showcase, MachineGames revealed Wolfenstein: Youngblood .

World Leaders React to Trump’s Bizarre Attacks On Canada
Trudeau "really kinda stabbed us in the back", top U.S. economic advisor Larry Kudlow said on CNN's "State of the Union ". Trump and then tries to stab him in the back on the way out the door", Navarro told Chris Wallace on " Fox News Sunday ".

Origin Access Premier is EA’s New PC Games Subscription Service
So, for example, if you have the base version of Access but want to play Anthem , you'll have to go buy a copy. Subscribers can play over 100 PC titles whenever they like as long as a Premier member is maintained.

Points table after Canadian Grand Prix
I said yesterday how much this place means to Ferrari and to have a race like we had today is unbelievable", said Vettel. Red Bull's Daniel Ricciardo, the 2014 Canadian GP victor , is coming off a victory two weeks ago in Monaco.

Robert DeNiro Says 'F**k Trump' Twice At Tony Awards
Onstage guests were volunteers and staffers from three organisations that bring relief to areas impacted by natural disasters. Attendance was also up, coming in a 13.79 million, an increase of 3.9 percent at last season's 13.27 million.

Petrol, diesel prices see biggest dip in 10 days
Lower global crude oil cost, along with a strengthened rupee, has pulled down the prices of transportation fuels since May 30. The reductions come on the back of softening of worldwide oil rates and the rupee gaining against the U.S. dollar.

Top Indian chefs mourn the death of Anthony Bourdain
While the exact cause of death is not known, Mr Rocquigny said the television personality's suicide didn't appear to be planned. In an interview with People , Lakshmi says that she was " really shocked and saddened because he had been doing really well".