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Bitcoin falls over 10% following South Korean cryptocurrency exchange hack

Cryptocurrency prices tumbled over the weekend after South Korean crypto exchange Coinrail said it was hacked and almost one-third of the coins were stolen.

The world's most popular digital currency, bitcoin, traded at $6,761.60, losing 12.2% since Friday’s close.

Among other cryptocurrencies, Ether added 1.6% to $531.00, Bitcoin Cash slid 1.6% to $929.90, Litecoin has risen1.5% to $106.78 and Ripple’s XRP coin was flat at 58 cents.

Over the weekend, crypto exchange Coinrail said that it was hacked, and added that 70% of consumers coin rail total coin / token reserves have been confirmed to be safely stored and moved to a cold wallet and are in storage.

Sunday’s drop took bitcoin to its lowest level since April 12 and below the key $7,000 mark, one, which analysts believed, if scaled, would lead to another wave of selloff.


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