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South Korean Coinrail falls prey to a hack, Bitcoin plummets

Coinrail, virtual currency exchange based in South Korea, reported that a hack against it was carried out in the weekend, causing bitcoin to plunge as worries over safety of cryptocurrency exchanges resurfaced and as governments searched for ways to regulate cryptoasset trading.

Luxembourg’s Bitstamp showed bitcoin standing around $6,790.88, which is 10.8% loss from the end of last week, and near a 65% fall from the historic maximum attained last December.

Coinrail posted a statement on its website today saying that the system suffered a cyber intrusion on Sunday, resulting in a loss of around 30% of the traded currency on the cryptoexchange.

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