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Coinrail Exchange Was Hacked And Lost About $40 Million In Cryptos – 70% Of Coinrail’s Reserve Is Safe

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Conrail is a crypto exchange based out of South Korea, and it had a sad announcement to make yesterday, June 10.

They announced that the platform was hacked with cryptos that seem to be worth of $40 million at the time of the event.

Coinrail suspended its service to conduct system maintenance 

Coinrail’s website announced that the platform had suspended its service to conduct system maintenance since it suffered from what it calls a cyber intrusion.

This resulted in a range of ERC-20 based tokens stolen from the platform.

Coinrail only named a few tokens that were hacked without revealing the exact amount that’s at stake. These include the NPXS token from the Pundi X project, ATC from Aston and NPER project’s token NPER.

A blog post that was published by Pundi X on Sunday hinted that the alleged hacker might have stolen 1,927 ETH, 2.6 billion NPXS, 93 million ATX, 831 million DENT coins as well as six other alt-coins also in significant amounts.

“Coinrail confirms that this incident has been caused by a cyber intrusion and NPXS is one of the affected tokens. Since the amount of NPXS token is equal to 3% of our current supply, which could potentially affect the interests of all parties, we instigated an emergency security protocol to halt ALL the NPXS transactions at 11:16 am Singapore time (GMT+8) to protect NPXS holders and help Coinrail and Korean law enforcement to investigate the incident,” the blog post announces.

70% of Coinrail’s reserve is safe

Coinrail said on its website that 70% of its reserve is still safe and they have been moved to a cold wallet which is not accessible via the Internet.

For the rest of 30% that were compromised the company said that two-thirds of them are frozen for the moment and these include NPXS, ATX, NPER. Meanwhile, it’s still investigating on the rest one-third with “police, investigators, relevant exchanges and project developers.”