Bitcoin plummets after hackers steal $37 million from South Korean cryptocurrency exchange Coinrail

Bitcoin has once again demonstrated its volatility, dropping in value by 10 percent following news of an attack and theft from the South Korean exchange Coinrail. Coinrail has confirmed that it suffered a "cyber intrusion" and while it did not specify the value of the coins stolen, local news outlet Yonhap News estimated it to be $37.28 million based on a loss of about 30 percent of the coins traded on the exchange. See also: Ticketfly says hack exposed private data of 27 million accounts 71 percent of IT pros believe they can hack any organization 92 million user accounts… [Continue Reading]