12 June, 2018
A South Korean cryptocurrency exchange said it suffered a "cyberintrusion", prompting bitcoin prices to fall sharply toward year lows. That's a drop of more than 60 percent since bitcoin's all-time high of almost $20,000, which it reached last December.
The markets are down this morning in the wake of an alleged $40 Million hack of 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.
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It has also been confirmed by Coinrail in a statement on its website, that around 30% of token reserves have been compromised, with the rest being safely stored.
The largest cryptocurrency declined 5% to $7 247 as of noon in NY, the biggest drop since May 23, according to data compiled by Bloomberg from Bitstamp pricing.
Of the holdings stolen from Coinrail, the exchange says two-thirds are covered by freezing or recalling them - and that the remaining third is being investigated by police and industry experts.
Some Asia-listed stocks with exposure to digital currencies fell on Monday.