Crypto Exchange Coinrail Suffers $40 Million Steal

On Sunday South Korean crypto exchange Coinrail claimed it was the victim of a hack, with losses of about 40 billion won ($37.2 million) in cryptocurrency
11 June 2018   704

In its blog post on Monday, Coinrail declared it had stopped its services after a “cyber intrusion” in its systems on Sunday morning. Without revealing the exact amounts stolen, Coinrail displayed some of the stolen ERC-20 tokens, namely NPXS tokens from Pundi X, a payment project; ATC from Aston X, a decentralized document project and; NPER tokens from the namesake decentralized IP project.

The heaviest hit was Pundi X, that said the hackers made away with a general of 2,619,542,080 NPXS tokens, approx. $19.5 million at the time of the theft. Data from a wallet address allegedly associated with the hacker has also pointed to 93 million (approx. $13.8 million) in ATX tokens and 831 million DENT coins, nearly $6 million in value, as well as a number of other tokens from projects including Jibrel Network, Storm, Kyber Network, B2BCoin and over $1 million in TRX tokens from Tron. The common value of the stolen tokens at the time of the attack reached $40 million.

The remaining one-third of coins are being investigated with investigators, relevant exchanges and coin developers.
Cryptocurrency Exchange, South Korea

Coinrail affirmed that 70% of its common coin reserves have been dislocated to an offline cold wallet and stay secure. Two-thirds of remaining 30 percent of token compromised have been frozen or recalled via consultation with developers like Pundi X and communication with exchanges like IDEX, according to the operator.

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.