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Read Source Article Hacked Coinrail Exchange Is Under Investigation for Money Laundering

It was to be expected that the recent Coinrail exchange hack would not go by unnoticed. Although its impact on the cryptocurrency market has been minimal, the South Korean authorities want to thoroughly investigate the incident. As such, the Coinrail offices have been “taken over” by the Korea Internet & Security Agency.

KISA Eyes Coinrail Office

Every time a cryptocurrency exchange gets hacked, an investigation needs to be launched. That is the normal order of business, as the hackers usually end up stealing a good chunk of money. In the recent Coinrail hack, close to $40 million worth of cryptocurrency – primarily altcoins and ERC20 tokens – was stolen, and there is no trace of the criminals either.

South Korean officials are currently investigating this most recent cryptocurrency heist. It also appears the Korean Internet and Security Agency – KISA – is carrying out a search and seizure of “relevant documents”. It sounds a lot worse than it really is, as such an investigation seems more than warranted after the breach.

It is not the first time a Korean cryptocurrency exchange has been hacked, nor will it be the last. Centralized trading platforms remain one of the weakest links in

Categories:   Crypto Currency Portal

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