Sharp drop in digital currencies following hacking in coinrail exchange

Bitcoin and other digital currencies are trading low following a hack break in the South Korean crypto market.

Wall Street Journal reported 

Another plunge into the South Korean crypto market has caused bitcoin to plummet over 10% in the past two days and 50% so far this year, bringing it to a record low of $ 6,000 in February. The other top digital currencies have fallen between 10% and 20% in the past two days. Since this is not the first time that digital coins have been hacked and stolen, and a proper security solution has not yet been found, the market responds with disbelief.The drop in digital currencies in the past 24 hours came on the back of yesterday's reports of a breakout in the  coinrail exchange currency of the South Korean. 

Photo source: pexels 

It's hard to know how much the currency was stolen, but it is estimated to be $ 40 million. Bitcoin is currently trading at around $ 6,800, reflecting a market value of $ 116 billion. 

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