The South Korea Cryptocurrency Exchange Youbit shuts down after suffering a major cyber attack for the second time this year. The company announced bankrupt on Tuesday after being hacked for the second time in the last eight months, the company declared it had lost 17 percent of its assets in the last attack.
This is the first time that a cryptocurrency exchange based in South Korean has gone bankrupt.
Eight months ago hackers stole nearly 4,000 bitcoin (5.5 billion won ($5 million) at the time of the hack) that accounted for nearly 40 percent of the Youbit exchange’s total assets.
The company blamed North Korea for the attack.
“We will close all trades, suspend all deposits or withdrawals and take steps for bankruptcy,” reads the statement issued by the company after the last attack.
In order to minimize the economic impact of the customers, all the clients will have their cryptocurrency assets marked down by 25 percent, in this way Youbit wants to cover the losses selling the remaining assets and using insurance.
The South Korean market for virtual currencies has become one of the most active, considering that whose trades account for some 20 percent of global Bitcoin transactions. More than one million South Koreans already invested in Bitcoin.
Analysts observed that the demand is very high, for this reason, prices for the unit are around 20 percent higher than in the US.
While global bitcoin prices continue to increase, threat actors are focusing their interests on the virtual currencies.
Recently security experts from Secureworks revealed the Lazarus APT group launched a spearphishing campaign against a London cryptocurrency company.
[adrotate banner=”9″] | [adrotate banner=”12″] |
(Security Affairs – hacking, Youbit)
[adrotate banner=”5″]
[adrotate banner=”13″]
The FBI has removed Chinese PlugX malware from over 4,200 computers in networks across the…
Russia-linked threat actor UAC-0063 targets Kazakhstan to gather economic and political intelligence in Central Asia.…
Experts warn of a new campaign targeting an alleged zero-day in Fortinet FortiGate firewalls with…
A critical vulnerability in Aviatrix Controller is actively exploited to deploy backdoors and cryptocurrency miners…
U.S. Cybersecurity and Infrastructure Security Agency (CISA) adds BeyondTrust PRA and RS and Qlik Sense…
FunkSec, a new ransomware group that attacked more than 80 victims in December 2024, was…
This website uses cookies.