Hacked and Gone: The Short Story of Coinrail
Coinrail launched in 2017 in South Korea with a focus on ERC-20 tokens. It never reached large scale, and by June 2018 suffered a devastating hack that stole about 30% of its funds worth around $40 million.
The 2018 Hack
Attackers drained wallets holding NPXS, ATX, DENT and other assets. The exchange froze trading and withdrawals, promising recovery, but trust collapsed. Most funds were never returned, and users received vague updates with no clear restitution.
Where It Stands in 2025
Tracking platforms now list Coinrail as inactive. Daily volume is $0, trading pairs do not exist, and the website went offline in April 2025. The company disappeared quietly, leaving no active support or communication.
Why It Failed
Coinrail lacked scale, transparency, and robust security. A single breach wiped out its credibility and user base. Without strong reserves or governance, small exchanges often cannot survive major incidents. Coinrail became a clear example of that risk.
Quick Facts
| Feature | Status / Details |
|---|---|
| Founded | 2017, South Korea |
| Assets Listed | ERC-20 tokens (NPXS, ATX, DENT, etc.) |
| 2018 Hack | 30% funds stolen (~$40M) |
| Spot/Trading Status | Frozen post-hack; no revival |
| 2025 Tracking | Zero volume, site offline |
| Community | Nonexistent |
Final Thoughts
Coinrail serves as a cautionary tale: even without scandals, a single hack can end a small exchange. The platform was never able to recover from the 2018 breach. By 2025 it remains a memory, referenced only in old lists as a defunct service.