South Korean cryptocurrency exchange closes down after 2nd Hacker Attack

YouBit, one of South Korea’s cryptocurrency exchanges, has been forced to shut down, following a hacker attack, Yonhap publication wrote on Tuesday.

According to the report, the platform’s operator stated on its website that hackers stole 17% of its cryptocurrencies at 4:35 am local time. The exchange had also been hacked in April, when around 4,000 bitcoins were stolen, the Guardian reported. South Korean officials linked the attack to individuals from North Korea.

Last week, the Korean Blockchain Industry Association announced it would adopt a set of self-regulatory measures to improve transparency in trading, following news that the government in Seoul might ban all types of cryptocurrency transactions within the country.