South Korean exchange Coinrail has resumed service after it was hacked last month. The exchange has offered users some options to recover their cryptocurrencies.
Eleven cryptos were stolen, some of which have been fully recovered and are now available for trading and withdrawals. However, some coins were not recovered.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinrail reported that it was hacked on June 10 with an estimated damage of about 45 billion won (~US$40 million). The exchange suspended trading after the hack as it tried to recover lost coins. Coinrail resumed service on July 15, announcing: We have completely revamped the existing security system that exposed the vulnerability, and have upgraded the overall security level.
The cause of the hack was not disclosed by the exchange when it resumed trading, Sedaily noted. “KISA [The Korea Internet & Security Agency] is in the process of finalizing the investigation, but it is still being analyzed, and details of the incident cannot be disclosed,” the news outlet quoted a KISA official saying.
Coinrail claims that its new security system “complies with KISA security guidelines.” A total of eleven cryptocurrencies were stolen, Coinrail revealed. They are dent (DENT), tradove b2bcoin (BBC), ether (ETH), jibrel network (JNT), bitcoin (BTC), kyber network (KNC), storm (STORM), tron (TRX), pundi x (NPXS), aston (ATX), and nper (NPER). Funds in DENT, BBC, and ETH have been fully recovered; customers can start trading and withdrawing them. Read more from news.bitcoin.com…
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