- Ethereum, News

New $12 Mln. Ether Hack Leaves Decentralized Exchange In Vain

One of the crypto exchanges based out of South Korea, Coinrail, recently announced that its platform has been a hack with cryptocurrencies which appeared to be worth $40 million at the time of the event. According to the exchange’s website, the services have already been suspended for system maintenance.

What Coinrail suffered is best described as “cyber intrusion” resulting in a range of ERC-20 based tokens stolen from the platform. So far, the exchange has only given names of some of the tokens that were hacked – without even disclosing their exact amount at stake. They mentioned that the NPXS token from the Pundi X project, the ATC from Aston, and the NPER project’s token NPER were among the stolen ones.

Still, one blog post published by Pundi hints that the hacker may have stolen 1,927 ETH, 2.6 billion NPXS, 93 million ATX, 831 million DENT coins and many other altcoins in significant amounts. Many people believe that the Coinrail hack is one of the reasons for the major plunging of the top 100 cryptocurrencies that happened yesterday.

Coinrail and Pundi X confirmed that IDEX has frozen the assets sent from Fake_Phishing1432 which is the name of the account that stole all the tokens. However, it still remains unclear whether the assets had been liquidated or not.

According to Cornrail’s official statement, more than 70% of its reserve is safe and has been moved to a cold wallet which is not accessible online. For the rest 30%, the firm said that two-thirds of them are currently frozen (NPXS, ATX, NPER) and the rest one-third is being investigated with police, investigators, relevant exchanges and project developers.

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