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Youbit Hacked Filing Bankruptcy

Earlier this year, Youbit, a South Korean cryptocurrency exchange was hacked and is expected to file bankruptcy.

Staff Reporter Dec 20, 2017

Earlier this year, Youbit, a South Korean cryptocurrency exchange was hacked and 17% of its digital currency and assets were stolen by hackers. Now, Youbit is expected to file bankruptcy, according to a news published by Reuters.

According to the news, Youbit has halted all transactions and will refund remaining coins to the investors. Youbit also mentioned that members may not see their full refunds.

This is not the first hacker attack. Due to the nature of cryptocurrency exchanges and digital wallets, hackers often target online websites and apps. Some speculations are suggesting that attack was from North Korean hackers.

Staff Reporter
Staff Reporter

Staff contributor of Jumpstart Blockchain covering blockchain and related topics.

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