Hi fellow Steemians!
One of South Korea's most prominent cryptocurrency exchanges, Coinrail, has been hacked and the hackers have stolen about one-third of the coins traded on the exchange.
This has caused the price of Bitcoin to fall quite dramatically in the last few hours / day.
The estimated value of the stolen crypto is believed to be around $37 million.
In a separate, but not totally unrelated news, the Senior VP of Ripple, Eric van Miltenburg is urging the South Korean government to rethinkg about the strict regulations on cryptocurrency and look at the positives of crypto. As many of you know, South Korea banned ICOs in 2017 but has recently expressed that it may be looking at possibly loosening the regulations.
After the hack though, I'm not too sure what will happen.
Sources:
Inquirer
Bitcoinist
