Home 2018 South Korean Cryptocurrency Exchange Shuts Down After Hack

South Korean Cryptocurrency Exchange Shuts Down After Hack

by Techie Crunch

South Korean Cryptocurrency Exchange shuts down after hacked for the second time this year, highlighting the risk over cryptocurrencies.

Yobit, which lets people purchase and promote bitcoins and different digital currencies, has filed for bankruptcy after losing 17% of its belongings inside the cyber-assault.

It got here 8 months after nearly 4,000 bitcoin — now worth $73m (£55m) received and nearly 40 percent of the exchange’s general belongings — had been stolen in a cyber assault blamed on North Korea.

All its clients could have their cryptocurrency assets marked down by way of 25 percentages. South Korea’s internet and security company (Kisa) which investigates internet crime, said it had started out an inquiry into how the thieves received get entry to the trade’s center systems.

Kisa blamed the sooner attack on Yobit on cyber-spies operating in North Korea. Separate, greater latest, attacks at the Bitcoin exchanges, have additionally been blamed on the regime.

No data has been released approximately who might have been at the back of the latest Yobit attack.  The exchange said in an announcement which did no longer assign blame for the contemporary attack that

“We will close all trades, suspend all deposits or withdrawals and take steps for bankruptcy,”

In advance this month, hackers got away with extra than $80m in bitcoins from nice hash, a Slovenia-based mining trade.

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