The hack occurred over the weekend. Coinrail has temporarily suspended trading in the virtual currency exchange. On Monday, with Coinrail, a South Korean cryptocurrency exchange, disclosing that it was hacked during the weekend, there followed an extended sell-off of bitcoin which saw it touch its 2-month low. In recent given the number of hacks involved…
Coincheck’s heist earlier this year saw Japan becoming the first country in the world to regulate the cryptocurrency industry. The potential acquisition of Coincheck by the Monex Group would bring it in the leagues of larger players such as Money Partners Group and the GMO Internet Inc.
Weighed down by cyber heists, insurers are gingerly tip toeing around the bitcoin business. Despite daunting challenges and the volcanic volatility of cryptocurrencies, global insurers, including Mitsui Sumitomo Insurance, XL Catlin and Chubb, are increasingly being drawn against swinging prices of cryptocurrencies and are starting to offer protection against thefts. Although, so far, their efforts…
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