The price of bitcoin declined to its lowest level on Monday morning after a South Korean cryptocurrency exchange suffered a cyberattack over the weekend. The value of other digital currencies also tumbled due to the report.
Data from Coindesk showed that bitcoin traded to as low as $6, 652.02, down more than 6%. The cryptocurrency already slashed around 12% of its value since Friday.
In a statement, South Korean cryptocurrency exchange Coinrail disclosed that cybercriminals hacked its platform on Sunday. The cybercriminals stole approximately 30% of the digital currencies traded on its platform. Coinrail did not provide the value of the stolen cryptocurrencies.
Hackers stole cryptucrrencies worth around 40 billion won
However, local news agency Yonhap estimated that the stolen digital currencies were worth around 40 billion won or $37.14 million.
Coinrail confirmed that 70% of its total coin and token reserves are safe . The exchange moved and stored them to a cold wallet.
Additionally, the South Korean cryptocurrency exchange said 80% of the compromised digital currencies were frozen, withdrawn or redeemed. Authorities are investigationg the remainder of the cryptocurrencies.
