Bitcoin price falls to 2-month low on June 11 after South Korea’s Coinrail hacked


SEOUL (Reuters) – South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, prompting an extended sell-off of bitcoin to a 2-month low amid growing concerns about security at small- to mid-sized virtual currency exchanges.

In a statement on its website on Monday, Coinrail said its system was under “cyber intrusion,” causing a loss for about 30% of the coins traded on the exchange. It did not quantify its value but said the hack occurred on Sunday.

The statement also said the exchange is fully cooperating with a police investigation into the hacking, and that trading has been suspended for now.

On the Luxembourg-based Bitstamp, bitcoin was last trading at $6,763.96, down a sharp 11.2% from Friday, having fallen roughly 65% from its all-time peak hit around mid-December 2017.


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.

(Reporting by Cynthia Kim; Editing by Shri Navaratnam)