Coinrail
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anchored·5tgH4D…UVC2Summary
Coinrail was a small South Korean cryptocurrency exchange that suffered a major security breach on June 10, 2018, resulting in the theft of approximately $40 million worth of ERC-20 tokens including NPXS (Pundi X), ATX (Aston X), DENT, and others. The incident triggered a broader cryptocurrency market sell-off, contributing to a loss of over $40 billion in total crypto market capitalization. Following the hack, Coinrail suspended trading operations and cooperated with South Korean law enforcement; the exchange subsequently transitioned to an offline platform and never fully resumed normal operations.
Connected Entities
4 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Coinrail→mentioned with→Ethereum(65%)
- Coinrail→mentioned with→Bitcoin(70%)
- Coinrail→mentioned with→Bitcoin Cash(80%)
- Bitcoin Cash→mentioned with→Bitcoin(70%)
Timeline(7 events)
10 June 2018
Coinrail detects a security breach affecting its hot wallets over the weekend. Approximately 30 percent of the exchange's token reserves — over $40 million at then-current prices — are stolen, including NPXS, ATX, DENT, ETH, and TRX. The exchange suspends all services.
TechCrunch10 June 2018
Coinrail publicly announces the breach on its website. The exchange states that 70 percent of reserves are safe in cold storage and that two-thirds of stolen tokens have been frozen in coordination with partner exchanges and token projects.
CoinDesk11 June 2018
Bitcoin falls approximately 7 to 11 percent and the broader crypto market loses over $40 billion in market capitalization in the wake of the Coinrail news. Ethereum, Ripple, and Bitcoin Cash each drop by 5 percent or more.
NPR11 June 2018
South Korean police formally launch an investigation, securing access logs from Coinrail's servers. The Korea Internet and Security Agency (KISA) begins a parallel technical review.
The Korea Herald25 June 2018
The attacker attempts to liquidate stolen NPXS tokens on IDEX, a decentralized exchange. Pundi X requests and obtains an urgent suspension of NPXS trading on IDEX to prevent the sale.
Pundi X Blog27 June 2018
Pundi X publishes a detailed update disclosing that it suspended the NPXS smart contract for 10 days at the request of Korean police, blocked monthly distributions to the hacker's wallet, and cooperated with the ongoing official investigation. Pundi X declines to issue replacement tokens, stating that Coinrail bears legal responsibility for the breach.
Pundi X BlogJuly 2018
Korean authorities and KISA complete their preliminary technical analysis of the breach. No arrests or public attribution of the attacker are announced. The exchange does not reopen for standard trading operations.
Korea Herald / BankInfoSecurityDecision Log
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- slot 443517953 · hash Hn13UuHG2DFVhbNpjC4x3rnp9aWETE9metHK6knaiEad
- slot 443517941 · hash BkjwjKZzvqixbWscgQS5NBXhShWMaB55vCK18wW8wwoz
- slot 423161105 · hash Dyf5PaTv8eLoxbagjbYqgdnCpUf7CKWdhsD3NeAHzbrH
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 14 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/30/2026, 12:59:22 PM
last updated: 8/25/2026, 10:40:21 PM
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