Bitcoin crashed after another crypto exchange got hacked

Bitocion price tumbles after cryptocurrency exchange Coinrail gets hacked

South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset.

The hack resulted in Coinrail losing around 30 per cent of the coins traded on the exchange and trading has now been suspended as the website is temporarily unavailable. 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.

The markets are down this morning in the wake of an alleged $40 Million hack of South Korean cryptocurrency exchange, Coinrail.

A cyberheist at a little-known virtual currency exchange helped wipe billions of dollars off the value of bitcoin and other digital currencies.

Last November - before December's pricing peak - the amount of bitcoin held for investment was roughly three times that held by traders.

Vans x Marvel Collection Release Date
Some " leaked " artwork for Avengers 4 has given fans a glimpse into what the super hero team could look like in the new movie. Avengers 4 will release in the U.S. on May 3, 2019 with both Ant-Man and the Wasp and Captain Marvel premiering before.

In January, bitcoin was forecast to reach $33,000 per coin by 2019, but after a tough start of the year for the world's most popular cryptocurrency, the estimate is now around $14,000.

EOS's price drop is notable as this cryptocurrency is now in the process of launching its main blockchain network (also known as mainnet) after having raised a reported $4 billion in a year-long initial coin offering (ICO), dwarfing all similar crowdfunding efforts. Cryptocurrency venues have come under growing scrutiny around the world in recent months amid a range of issues including thefts, market manipulation and money laundering.

"All assets of CoinRail, which have not been leaked, are moved to a cold wallet and are kept safe, and transactions and withdrawals will resume after stabilizing the service".

The company said in a statement that it was cooperating with the police and their investigation into the cyber attack which occurred yesterday.

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