Korean Crypto Exchange Coinrail Hack Triggers Sunday Sell-Off

South Korean cryptocurrency exchange Coinrail has reported a successfully deployed hacking incident on Sunday afternoon (KST) which appears to have involved the theft of over 2.6 billion NPXS (=~US$20 million) and a host of other Ethereum-based virtual tokens. NPXS is the cryptoasset enabling Pundi X; the Indonesian startup disseminating retail-friendly devices designed to make cryptocurrencies more usable and accessible.

In response, the eight-month-old Coinrail has frozen Pundi X (NPXS), as well as NPER (NPER) and Artex Coin (ATX). Whilst inspection procedures continue to be carried out, Coinrail has made their website inaccessible. They currently estimate a wait of 26 hours before this inspection is complete (i.e., 02:00 KST Sunday – 04:00 KST Monday).

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