Audit log

Every state-changing event for Coinrail: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-30 12:59:26Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 423,161,105

   sig

   5tgH4Dt25zy8…JUC5UVC2copyexplorer ↗

   hash

   Dyf5PaTv8eLo…NeAHzbrHcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (18122 B) ▸

   {"actor":"system:backfill","investigation_id":"4861a61a-a279-40b1-8b87-2262c0107d56","kind":"publish","page_slug":"coinrail","published_at":"2026-05-30T12:59:26.372Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Coinrail","sections":[{"content":"On June 10, 2018, Coinrail announced on its website that it had suffered a 'cyber intrusion' affecting approximately 30 percent of the ERC-20 tokens held on the exchange. The attack targeted the exchange's hot wallet infrastructure, and stolen assets were transferred to external addresses subsequently labeled 'Fake_Phishing1432' and 'Fake_Phishing1431' by on-chain analysts. The exact technical vector — whether phishing, exploitation of an internal system with admin-level access, or another method — was not conclusively disclosed publicly. Korean cybersecurity experts investigating the breach noted that the attack may have been facilitated by a compromised machine inside the company with administrative access, though the identity of the attacker was never publicly confirmed. Coinrail immediately suspended all exchange services upon discovering the breach and began coordinating with token issuers and other exchanges.","heading":"The June 2018 Security Breach","severity":"critical","sources":[{"credibility":2,"name":"Coinrail Exchange Hacked, Loses Possibly $40 Million in Cryptos — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/11/coinrail-exchange-hacked-loses-possibly-40-million-in-cryptos"},{"credibility":1,"name":"Korean crypto exchange Coinrail loses over $40M in tokens following a hack — TechCrunch","type":"news_article","url":"https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/"},{"credibility":2,"name":"Crypto Hacks: The Coinrail Hack Resulted in a Loss of Over $40 Million — CoinMarketCap","type":"research","url":"https://coinmarketcap.com/academy/article/crypto-hacks-the-coinrail-hack-resulted-in-a-loss-of-over-40-million"}]},{"content":"According to reporting corroborated by multiple sources and the affected token projects, the hackers stole approximately 2.6 billion NPXS (Pundi X) tokens valued at roughly $19.5 million, 93 million ATX (Aston X) tokens valued at approximately $13.8 million, 831 million DENT tokens valued at approximately $5.8 million, and over $1 million in TRON (TRX) tokens. Additionally, 1,927 ether (ETH) and significant amounts of at least six other smaller tokens were taken. The total value of stolen assets at the time of the hack was estimated at over $40 million, though valuations fluctuated as crypto prices declined in the days following the announcement. All of the targeted tokens were ERC-20 standard tokens held in Coinrail's hot wallets rather than cold storage.","heading":"Stolen Assets and Token Breakdown","severity":"critical","sources":[{"credibility":2,"name":"South Korean Exchange Coinrail Hacked, $40 Million in Crypto Reported Stolen — Bitcoin Magazine","type":"news_article","url":"https://bitcoinmagazine.com/culture/south-korean-exchange-coinrail-hacked-40-million-crypto-reported-stolen"},{"credibility":2,"name":"Coinrail Exchange Hacked, Loses Possibly $40 Million in Cryptos — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/11/coinrail-exchange-hacked-loses-possibly-40-million-in-cryptos"},{"credibility":1,"name":"South Korean Exchange Coinrail Hacked — Nasdaq","type":"news_article","url":"https://www.nasdaq.com/articles/south-korean-exchange-coinrail-hacked-$40-million-in-crypto-reported-stolen-2018-06-11"}]},{"content":"The Coinrail hack announcement on June 10-11, 2018 coincided with a significant cryptocurrency market downturn. Bitcoin's price fell approximately 7 to 11 percent in the days following the announcement, dropping to around $6,700 on major exchanges. The broader crypto market lost over $40 billion in total market capitalization during the weekend and into Monday, with the total market cap falling from approximately $340 billion to around $291 billion. Ethereum, Ripple (XRP), Bitcoin Cash, and other major tokens each declined by 5 percent or more. Some analysts cautioned that Coinrail's small size — ranked outside the top 90 exchanges by volume — made it an unlikely single cause for such a broad market move, and noted that Bitcoin had already been in a prolonged downtrend since its late-2017 peak near $20,000 and that concurrent US regulatory scrutiny of the crypto market was also weighing on prices. The hack nonetheless contributed to amplified negative sentiment.","heading":"Market Impact","severity":"high","sources":[{"credibility":1,"name":"Cryptocurrencies Lose Billions In Value After An Exchange Is Hacked — NPR","type":"news_article","url":"https://www.npr.org/2018/06/11/618912309/cryptocurrencies-lose-billions-in-value-after-an-exchange-is-hacked"},{"credibility":1,"name":"Bitcoin price plunges following Coinrail exchange hack — CNN Money","type":"news_article","url":"https://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html"},{"credibility":2,"name":"Buy the FUD: Mainstream Media Convinced Coinrail Hack Caused Crypto Price Plunge — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/buy-the-fud-mainstream-media-convinced-coinrail-hack-caused-crypto-price-plunge"},{"credibility":2,"name":"Coinrail hack sends bitcoin price tumbling — The New Economy","type":"news_article","url":"https://www.theneweconomy.com/technology/coinrail-hack-sends-bitcoin-price-tumbling"}]},{"content":"Coinrail stated that approximately 70 percent of its total coin and token reserves were confirmed safe, having been moved to cold storage prior to or immediately following discovery of the breach. Of the 30 percent that were compromised, the exchange reported that two-thirds — valued at roughly $27 million — were subsequently frozen or recovered in coordination with token issuers, partner exchanges, and South Korean law enforcement. Pundi X took several actions: it suspended the NPXS smart contract for 10 days at the request of Korean police investigating the incident, delisted NPXS from the IDEX decentralized exchange after the attacker attempted to liquidate stolen tokens there on June 25-26, 2018, and blocked monthly token distributions to the attacker's wallet address. Aston (ATX) and NPER also froze their affected tokens. NPER announced plans to incinerate its stolen tokens to render them unredeemable. The remaining one-third of stolen assets — approximately $13 million at original valuations — remained under active investigation with no publicly confirmed recovery.","heading":"Recovery Efforts and Token Freezes","severity":"high","sources":[{"credibility":2,"name":"An update on the Coinrail hack incident — Pundi X Blog","type":"official","url":"https://blog.pundix.com/2018/06/27/an-update-on-the-coinrail-hack-incident/"},{"credibility":2,"name":"Pundi X assists Coinrail to investigate the breach incident — Medium (Pundi X)","type":"official","url":"https://medium.com/pundix/pundi-x-assists-coinrail-to-investigate-the-breach-incident-960c6a0e2c76"},{"credibility":1,"name":"Korean crypto exchange Coinrail loses over $40M in tokens — TechCrunch","type":"news_article","url":"https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/"},{"credibility":2,"name":"Coinrail Exchange Hacked, Loses Possibly $40 Million — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/11/coinrail-exchange-hacked-loses-possibly-40-million-in-cryptos"}]},{"content":"South Korean police formally launched an investigation into the Coinrail breach in June 2018. According to a police spokesperson quoted by the Korea Herald, investigators secured the access history of Coinrail's servers and began analyzing them. Authorities noted at the outset that they would determine whether the incident constituted an external hack or resulted from internal technical failure. The Korea Internet and Security Agency (KISA), a state-run cybersecurity body, conducted a parallel technical analysis. A KISA representative indicated that determining the root cause would take approximately one month. No public announcements of arrests or definitive attribution were issued by Korean authorities based on available reporting. The hack was one of several high-profile South Korean exchange incidents in 2018 — the same year the larger exchange Bithumb also suffered a significant breach — prompting calls for stricter regulation of domestic cryptocurrency platforms.","heading":"Law Enforcement Response","severity":"high","sources":[{"credibility":1,"name":"Police begin probe into Coinrail hacking attack — The Korea Herald","type":"news_article","url":"https://www.koreaherald.com/article/1696743"},{"credibility":2,"name":"Hacked Korean Crypto Exchange Coinrail Under Police Investigation — CoinGape","type":"news_article","url":"https://coingape.com/crypto-exchange-coinrail-under-police-investigation/"},{"credibility":2,"name":"Coinrail Cryptocurrency Exchange in South Korea Hacked — BankInfoSecurity","type":"news_article","url":"https://www.bankinfosecurity.com/coinrail-cryptocurrency-exchange-in-south-korea-hacked-a-11068"},{"credibility":2,"name":"From Coincheck to Bithumb: 2018's Largest Security Breaches So Far — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/from-coincheck-to-bithumb-2018-s-largest-security-breaches-so-far"}]},{"content":"Following the hack, Coinrail suspended all trading and exchange operations. The exchange never fully resumed operations as a functioning public crypto exchange. Available reporting indicates that, due to the resulting loss of investor trust and unresolved security questions, Coinrail transitioned to an offline-only platform. No public announcements regarding user compensation or a formal wind-down process were widely reported. Coinrail had ranked approximately seventh among South Korean exchanges by trading volume before the incident. The hack served as an early and prominent case study in the vulnerability of smaller exchanges that held significant token balances in hot wallets without adequate multi-layer security controls. Pundi X explicitly stated that Coinrail, not the token issuers, bore legal responsibility for the security failure, and declined to issue replacement tokens or execute a hard fork on behalf of affected users.","heading":"Operational Aftermath and Exchange Status","severity":"high","sources":[{"credibility":2,"name":"Crypto Hacks: The Coinrail Hack Resulted in a Loss of Over $40 Million — CoinMarketCap","type":"research","url":"https://coinmarketcap.com/academy/article/crypto-hacks-the-coinrail-hack-resulted-in-a-loss-of-over-40-million"},{"credibility":2,"name":"An update on the Coinrail hack incident — Pundi X Blog","type":"official","url":"https://blog.pundix.com/2018/06/27/an-update-on-the-coinrail-hack-incident/"},{"credibility":2,"name":"South Korean cryptocurrency exchange hacked for nearly $40M — The Next Web","type":"news_article","url":"https://thenextweb.com/hardfork/2018/06/11/coinrail-cryptocurrency-exchange-hack/"}]}],"sources_used":[{"credibility":2,"name":"Coinrail Exchange Hacked, Loses Possibly $40 Million in Cryptos — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/11/coinrail-exchange-hacked-loses-possibly-40-million-in-cryptos"},{"credibility":1,"name":"Korean crypto exchange Coinrail loses over $40M in tokens following a hack — TechCrunch","type":"news_article","url":"https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/"},{"credibility":2,"name":"South Korean Exchange Coinrail Hacked, $40 Million in Crypto Reported Stolen — Bitcoin Magazine","type":"news_article","url":"https://bitcoinmagazine.com/culture/south-korean-exchange-coinrail-hacked-40-million-crypto-reported-stolen"},{"credibility":1,"name":"South Korean Exchange Coinrail Hacked, $40 Million in Crypto Reported Stolen — Nasdaq","type":"news_article","url":"https://www.nasdaq.com/articles/south-korean-exchange-coinrail-hacked-$40-million-in-crypto-reported-stolen-2018-06-11"},{"credibility":1,"name":"Cryptocurrencies Lose Billions In Value After An Exchange Is Hacked — NPR","type":"news_article","url":"https://www.npr.org/2018/06/11/618912309/cryptocurrencies-lose-billions-in-value-after-an-exchange-is-hacked"},{"credibility":1,"name":"Bitcoin price plunges following Coinrail exchange hack — CNN Money","type":"news_article","url":"https://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html"},{"credibility":1,"name":"Police begin probe into Coinrail hacking attack — The Korea Herald","type":"news_article","url":"https://www.koreaherald.com/article/1696743"},{"credibility":2,"name":"Hacked Korean Crypto Exchange Coinrail Under Police Investigation — CoinGape","type":"news_article","url":"https://coingape.com/crypto-exchange-coinrail-under-police-investigation/"},{"credibility":2,"name":"Coinrail Cryptocurrency Exchange in South Korea Hacked — BankInfoSecurity","type":"news_article","url":"https://www.bankinfosecurity.com/coinrail-cryptocurrency-exchange-in-south-korea-hacked-a-11068"},{"credibility":2,"name":"An update on the Coinrail hack incident — Pundi X Blog","type":"official","url":"https://blog.pundix.com/2018/06/27/an-update-on-the-coinrail-hack-incident/"},{"credibility":2,"name":"Pundi X assists Coinrail to investigate the breach incident — Medium (Pundi X)","type":"official","url":"https://medium.com/pundix/pundi-x-assists-coinrail-to-investigate-the-breach-incident-960c6a0e2c76"},{"credibility":2,"name":"Crypto Hacks: The Coinrail Hack Resulted in a Loss of Over $40 Million — CoinMarketCap","type":"research","url":"https://coinmarketcap.com/academy/article/crypto-hacks-the-coinrail-hack-resulted-in-a-loss-of-over-40-million"},{"credibility":2,"name":"South Korean cryptocurrency exchange hacked for nearly $40M — The Next Web","type":"news_article","url":"https://thenextweb.com/hardfork/2018/06/11/coinrail-cryptocurrency-exchange-hack/"},{"credibility":2,"name":"Buy the FUD: Mainstream Media Convinced Coinrail Hack Caused Crypto Price Plunge — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/buy-the-fud-mainstream-media-convinced-coinrail-hack-caused-crypto-price-plunge"},{"credibility":2,"name":"From Coincheck to Bithumb: 2018's Largest Security Breaches So Far — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/from-coincheck-to-bithumb-2018-s-largest-security-breaches-so-far"}],"summary":"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.","timeline":[{"date":"2018-06-10","event":"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.","source":"TechCrunch","source_url":"https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/"},{"date":"2018-06-10","event":"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.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2018/06/11/coinrail-exchange-hacked-loses-possibly-40-million-in-cryptos"},{"date":"2018-06-11","event":"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.","source":"NPR","source_url":"https://www.npr.org/2018/06/11/618912309/cryptocurrencies-lose-billions-in-value-after-an-exchange-is-hacked"},{"date":"2018-06-11","event":"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.","source":"The Korea Herald","source_url":"https://www.koreaherald.com/article/1696743"},{"date":"2018-06-25","event":"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.","source":"Pundi X Blog","source_url":"https://blog.pundix.com/2018/06/27/an-update-on-the-coinrail-hack-incident/"},{"date":"2018-06-27","event":"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.","source":"Pundi X Blog","source_url":"https://blog.pundix.com/2018/06/27/an-update-on-the-coinrail-hack-incident/"},{"date":"2018-07","event":"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.","source":"Korea Herald / BankInfoSecurity","source_url":"https://www.bankinfosecurity.com/coinrail-cryptocurrency-exchange-in-south-korea-hacked-a-11068"}]},"v":1}

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