After the exchange posted a statement on Twitter, confirming that the hack, in fact, took place, cryptocurrencies prices dropped sharply. “ There has been a cyber intrusion in our system. We’re confirming it and some coins(Pundi X, NPXS) are confirmed,” – the tweet read. Although Bitcoin was not among the stolen currencies, it lost 10% immediately after the news got out. It soon reached the lowest price in two months. After trading at about $20,000 a few months ago, the price of Bitcoin now stands at $6,700.
Coinrail lost about 30% of the coins traded on the platform. It is estimated that the total value of these coins exceeds $25 million. “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet. Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies. For the rest, we are looking into it with an investigative agency, related exchanges and coin developers,” – said the statement released by the exchange.