Cryptocurrencies tumble after S. Korea hack

Cryptocurrencies plunged in Asia on Monday after a hack on a South Korean exchange sparked fresh concerns about the safety of the digital units. The firm, which trades more than 50 cryptocurrencies, added that it had frozen all exposed coins — Fundus X, Aston, and Enper — and other units had been taken offline in a “cold wallet”. The news sent cryptocurrencies tumbling, with bitcoin losing about 13 percent, ethereum down 12 percent and ripple almost 20 percent lower as traders fret over the safety of their investments.

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