In the crypto world, no one is safe from hacks, ranging from the individual to the exchange level. This is true as wallet providers and trading platforms are concerned. A small exchange platform based in south-korea ran out of luck this past weekend but i don’t think that should affect the market because the volume generated by the platform is somewhat too small to worry about.
It was confirmed this past Sunday by the company that the exchange has been hacked, of which a good number of Pundi X token was stolen away. Pundi X is COINRAIL’s largest trading coin while other altcoin have no real value to speak of. The company traded mostly in altcoin, that is why the hack case on the site was not noticed and will not be noticed in future.
In other words, coinrail plays no role of importance in the blockchain industry, as to regards this, investors, holders and speculators should not panic over the situation. Although, the users of this platform will not be happy over the incident.
Unfortunately, the new company that is hoping to be the best exchange in the world has been added to the growing list of companies that have been hacked over the years of trading. So my advice to all individuals out there, reading this article is that you should protect your private key like it’s your life, because if been misplaced, stolen or hacked via phishing website, then there’s no way to help you retrieve it back.