Conrail has been hacked.
The South Korean crypto-currency has reminded the world, yet again, of the loose ends in the so-called hack-proof technology that shapes blockchain and bitcoins. The cyber-intrusion has, reportedly, affected 30 percent of the coins traded on the exchange.
Whether it is Mt. Gox or Conrail or BitGrail or DAO or Japan’s Coincheck, or the likes of Coinbase, Bitstamp and Kraken which are under US-investigation; such dents not only send currencies in a volatile market tailspin but also disorient regulators who are already struggling to make sense of this new financial species.
The shall-we-rein-it-or-not battle gets only more confusing after such security mishaps.
Notably, crypto-attacks can be as serious and as frequent as $2.3 billion and 40 incidents (on an average one every month this year).