The South Korean police have started its investigation on the recent hack of the country’s seventh largest cryptocurrency exchange Coinrail, according to the Korea Herald.

Coinrail has reportedly lost around $37 million in cryptocurrencies in a major hack on June 10. In an online post on its website, the company said that 70% of the cryptocurrency reserves are safe and have been moved to a cold storage.

“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies. For the rest, we are investigating into it with an investigative agency, related exchanges and coin developers,” it added.

A police spokesperson said that they have secured the access history of Coinrail servers are will be analyzing them. The police also said that it will also check if the leak of cryptocurrencies was caused by hacking or computer network problems.

This is not the first hacking attack in South Korea. Youbit suffered two major hacks last year, losing around 20 billion won, while Bithumb also reportedly lost billions of won to hackers in 2017.

The cryptocurrency market slumped on the hack news: Bitcoin dropped 11% to a low of $6627 on Bitstamp, Ether plummeted by 14% to near $500 levels (Coinbase), and Ripple dropped 15% to $0.555 on Kraken.