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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

South Korean bitcoin exchange Youbit closes after second hack attack

By cpowell
Created 2017-12-19 17:30

From the British Broadcasting Corp., London
Tuesday, December 19, 2017

A crypto-currency exchange in South Korea is shutting down after it was hacked for the second time in less than eight months.

Youbit, which lets people buy and sell bitcoins and other virtual currencies, has filed for bankruptcy after losing 17 percent of its assets in the cyberattack.

It did not disclose how much the assets were worth at the time of the attack.

In April, Youbit, formerly called Yapizon, lost 4,000 bitcoins now worth $73 million to cyberthieves.

South Korea's Internet and Security Agency, which investigates net crime, said it had started an enquiry into how the thieves gained access to the exchange's core systems.

The agency blamed the earlier attack on Youbit on cyber-spies working for North Korea. Separate, more recent attacks on the Bithumb and Coinis exchanges have also been blamed on the regime. ...

... For the remainder of the report:

http://www.bbc.com/news/technology-42409815 [1]



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