News of hack wipes out billions in bitcoin wealth

A cyberheist at a little-known virtual currency exchange helped wipe billions of dollars off the value of bitcoin and other digital currencies.

The price of bitcoin slumped more than 7% after South Korea’s Coinrail announced that it had been targeted by cyberthieves. In a statement Monday, the exchange said that it had a suffered a security breach in which hackers stole about 30% of its virtual currencies.

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