Security fears rise as South Korea’s Coincheck loses about £28m of virtual currency

There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend.

A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows.

Related: Cryptocurrencies have a mysterious allure – but are they just a fad? | Robert Shiller

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