South Korean cryptocurrency exchange, Youbit, filed for bankruptcy after a cyberattack. Formerly known as Yapizon, it is the second hack for the company this year. Security within cryptocurrency exchanges is a topic of fierce debate among investors leading many to wonder how to protect their digital assets – and whether to trust digital wallets.
DEJA VU
Last April, Youbit lost around 4,000 bitcoins to cybercriminals. According to a report from The Japan Times, South Korean cybersecurity agency KISA attributed the attack to North Korea.
The North operates what Seoul labels “an army of hackers” that engage in financial theft and espionage. South Korea may have become a target not just due to its proximity to Pyongyang and common language, but because the country has become one of the busiest trading hubs for cryptocurrencies this year.
More: https://dowbit.com/youbit-folds-cyberattack/
DEJA VU
Last April, Youbit lost around 4,000 bitcoins to cybercriminals. According to a report from The Japan Times, South Korean cybersecurity agency KISA attributed the attack to North Korea.
The North operates what Seoul labels “an army of hackers” that engage in financial theft and espionage. South Korea may have become a target not just due to its proximity to Pyongyang and common language, but because the country has become one of the busiest trading hubs for cryptocurrencies this year.
More: https://dowbit.com/youbit-folds-cyberattack/
No wonder why people are so conscious about holding the coins . As soon they get it they sell it (90% of it ) . They fear that coinbase might shut down and their money would go . The improper security is such an issue now especially after the nice hash and now the South Korea exchange incident .
People put their faith into them , its high time that new updates for the security issue must be incoming now.
