Coinrail to Unveil Own Restart Plan

As reported, Coinrail is going to resume service around 15th of July
20 June 2018   606

Recently hacked South Korean crypto exchange Coinrail presented a plan to restore the platform, reports.

According to the representatives of the platform, at present the company is in the process of restructuring, and service will be resumed before July 15.

Coinrail will resume service before July 15 if it is determined that the service is ready to resume…We are constantly preparing a number of measures to recover the damaged coins and we will be reporting progress on the restoration measure at the end of June.


Coinrail noteв that the implementation of the recovery plan will be implemented with the assistance of "various stakeholders, including coin developers."

At the same time, the publication notes that many clients of the exchange doubt that this South Korean exchange will resume its work by the specified date. Another interesting fact that about a week before the hacker attack, the administration of the trading platform removed from the Terms of Service points relating to the compensation of users' funds in the event of hacking.

On the day of the breaking of the Coinrail exchange, a sharp decrease in the price of bitcoin was observed. Then hackers stole more than 40 billion won from the accounts of the exchange (about $ 37.28 million). In addition, $ 13.8 million was stolen in the Aston (ATX) project tokens, $ 5.8 million in Dent (DENT) tokens and $ 1.1 million in Tron (TRX) tokens, as well as smaller amounts in other tokens.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   57

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.