Youbit Cryptocurrency Exchange in South Korea Collapses Files for Bankruptcy

Events, Regulation December 19, 2017 , by Steel Rose Comments Off 15

A cryptocurrency exchange in South Korea collapsed on Tuesday after it suffered a second cyberattack in eight months and lost a large amount of its digital-currency reserves. Yapian, the company that operates a Seoul-based exchange called Youbit, suspended digital-currency trading and filed for bankruptcy after its systems were hacked in the predawn hours of Tuesday. The exchange trades 10 virtual currencies including bitcoin and ethereum. …

Source: Cryptocurrency Exchange Collapses, Files for Bankruptcy After Second Hack – WSJ