Coinrail Crypto Exchange Cyber Intrusion Hack: Bitcoin Price Down, Crypto Losses All Around

In the biggest continued loss in two weeks, Bitcoin (BTC) continues on a third day of their streak, with a loss as big as 6% today so far and a staggering $15 billion wiped from the overall cryptocurrency market cap in a little over 2 hours.

This major loss from the multi-billion-dollar crypto platform appears to be related to a recent claim by Coinrail that there was a “cyber intrusion” in their system. The loss was the biggest since May 23rd, when the 4.6% decline brought the coin down to $7,277.

Overall, Bitcoin has lost about 49% this year alone, while their fellow platforms Ethereum and Ripple experienced losses in the single-digit range.

Coinrail released a statement that said they are currently looking over their system after a recent bout of hacking attempts. At the time of this release, the exchange had frozen the coins that had been exposed to the potential attack, which included NPXS, NPER, and ATX.

For now, these coins are being stored in a cold wallet, and the website for Coinrail only features the statement about the attack. The South Korean cryptocurrency exchange did post an update just a few hours ago saying..

“At 15:00 investigation, the other exchange, coin developers are working hard to recover the total amount of the leaked coins such as Ferndix, Enfer, and Aston in cooperation with two-thirds of the amount collected or recovered, as well as the cooperation of the investigation and related institutions for the remaining coins.”

Presently, no contact information is available as they examine their system security, though the freezing on the asset from consumers is the safest way to protect it during this process.

The Coinrail platform is responsible for trading over 50 different crypto tokens and is the 98th largest exchange right now. Within a 24-hour period, it has had a volume of $2.65 million in their transactions.

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