A South Korean cryptocurrency exchange has suffered a hack and lost some 30 percent of its coin inventory.
It said 70 percent of its inventory was safe and was moved to cold wallets.
Two thirds of the leaked coins have been frozen and the company was being recovered. Pundi X was confirmed to be stored at another exchange, IDEX, and frozen.
Share prices of the hacked coins fell 10 percent early Monday following the news.
Hacking of cryptocurrency exchanges is nothing new. In December, Bitcoin mining platform and exchange NiceHast suffered a hack and $68 million worth of coins were stolen.
An estimated $400 million has been stolen or lost by hacks in ICO events between 2015 and 2017, according to Ernst & Young.
In April, a CEO of a Korean exchange was arrested for alleged fraud.
An unknown threat actor has so far managed to steal over 388,000 BTG from cryptocurrency exchanges.
Users of ABC mining software are being urged to update their builds immediately.
‘It is time that Whitehall and Westminster understood cryptocurrency better,’ says Treasury Committee on launch of inquiry – which aims to examine how to prevent bitcoin-related crime.
Some cybercriminals are already casting their gaze towards a less volatile cryptocurrency.
The cryptocurrency, and its underpinning blockchain, have serious implications for the business world, too.
Bitcoin: A cheat sheet for professionals (TechRepublic)
If you’re curious about the original decentralized cryptocurrency, here’s what you need to know about Bitcoin, including why the price of a bitcoin keeps climbing.