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Bitcoin value dips in wake of South Korean exchange hack

A South Korean cryptocurrency exchange was hacked on Sunday.


Bitcoin took a hit over the weekend.

Karen Bleier/AFP/Getty Images

South Korean cryptocurrency exchange Coinrail was hacked on Sunday, losing about 30 percent of the coins traded there.

The site has temporarily suspended trading as it works with investigators.

A statement on the exchange's site sought to reassure users -- saying that the remainder of the coins were "safely stored" -- but Reuters reports that the value of Bitcoin tumbled to two-month lows in the hack's aftermath.

It notes that Bitcoin was trading at $6,790.88 on Bitstamp, a drop of 10.8 percent from Friday and a massive dip from its December 2017 peak, when it hit an all-time high of almost $20,000.

On June 3, Brisbane Airport started allowing customers to use cryptocurrency as payment at all its retail outlets in an effort to build up its real-world use.