'Cyber intrusion': Bitcoin has biggest one-day fall in three months after hack

Bitcoin extended losses for a third day, tumbling 12 per cent Sunday as South Korean cryptocurrency exchange Coinrail said there was a “cyber intrusion” in its system.

The Bitcoin price has now dropped nearly 60 per cent in 2018.

Photo: Bloomberg

Loading

The largest cryptocurrency declined to $US6,749 as of 2 p.m. in New York, the biggest drop since March 14, according to data compiled by Bloomberg from Bitstamp pricing. That widens Bitcoin’s losses for the year to 53 per cent. Peer cryptocurrencies Ethereum and Ripple fell 11 per cent and 12 per cent, respectively.

Coinrail said in a statement on its website that it’s reviewing its system due to hacking attempts. The exchange says it has managed to freeze all exposed NPXS, NPER and ATX coins, and that other cryptocurrencies are now being kept in a cold wallet.

Original Source