Hackers steal $40 million from a Korean crypto exchange

June 11

About two thirds of the stolen tokens frozen by the developers.

According to Techcrunch Coinrail, a smaller Korean crypto exchange has been hacked this weekend. As a result of a hacker attack more than $40 million worth of tokens had been stolen from the exchange’s wallets.

The tokens stolen were different types of altcoins. Bitcoin or Ether weren’t among them. Hackers laid hands on $19,5 million worth of NPXS tokens that are issued by the Pundi X platform. Apart from which the exchange has lost $13,8 million worth of Aston X document decentralization platform tokens, $5,8 million worth of mobile data transfer platform Dent tokens and $1,1 million Tron chinese project tokens. Also the exchange has lost lesser sums in five other tokens traded by Cornrail.

The compensation methods have not yet been specified. Some of the stolen token’s developers have made moves. Pundi X whose tokens made 3% of the theft reacted most harshly having frozen the stolen tokens and suspended trade of its tokens at all crypto exchanges as an act of help in the police investigation. NPER project, $860 thousand worth  of which tokens have been stolen, stated that it has likewise frozen the stolen tokens and plans on burning them thus making them useless to the hacker. Aston didn’t stand aside either and froze their tokens as well.

The rest of the projects have not yet commented the incident, but the exchange states that two thirds of the stolen coins have been frozen and it is expected there will be more.

The exchange itself has suspended trade and announced that 70% of the assets held by it will be moved to cold storage for the time necessary for security system check and the incident investigation.

One should note that cryptocurrency exchanges aren’t the only major cryptocurrency market participants who suffer from hacker attacks. For instance, in the end of May Hyundai mining pool has been subject to a hacker attack as well.

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