Bitcoin tumbles 10% after news of South Korea crypto exchange hack

Bitcoin tumbled 10 percent on Sunday to its lowest in two months, after a relatively smaller South Korean exchange said the item was hacked.

Over the weekend, crypto exchange Coinrail tweeted which the item was hacked, along with noted which lesser-known cryptocurrencies such as Pundi X were among those affected, according to Google Translate. The Pundi X-bitcoin pair will be the most-traded on Coinrail, CoinMarketCap data showed.

However, Coinrail’s public statements did not mention bitcoin, according to Google Translate.

Nevertheless, Bitcoin hit a low of $6,647.33, its lowest since April 9, according to CoinDesk’s bitcoin cost index, along with coincided that has a broader crypto sell-off. The largest cryptocurrency by market capitalization remains about 50 percent lower for the year so far.

Bitcoin three-month performance

Source: CoinDesk

some other major cryptocurrencies also fell. Ethereum dropped 14 percent to near $514 along with litecoin fell more than 11 percent to around $104, according to CoinDesk.

The declines followed a report on Friday coming from The Wall Street Journal, citing sources, which U.S. regulators are investigating potential cost manipulation at four major cryptocurrency exchanges: Bitstamp, Coinbase, itBit along with Kraken.

The exchanges, CME along with the Commodity Futures Trading Commission did not immediately respond to a CNBC request for comment on Sunday evening.

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