Sunday, June 16, 2024

Bitcoin Exchange YouBit Shutdowns after being Hacked Second Time this Year

Bitcoin exchange Youbit shutdowns services after it was hacked second time in the same year within eight months.

The first incident occurs in April, and the company lost 4,000 bitcoins which worth $74 million today. Youbit said the loss percentage is less when compared to April incident.

“The coin loss at 4:35 am about 17% of total assets. The other coins were kept in the cold wallet, and there were no additional losses and going to proceed with the process of stopping the transaction, stopping deposit and withdrawal, and bankruptcy on December 19, 2013.”

Youbit says all the coin and cash transactions suspended at 12:00 pm on December 19, 2017, and the settlement will be done based on the bankruptcy procedures, according to their statement.

No information has been released about who might have been behind the latest Youbit attack.Youbit was one of the smaller exchanges active in South Korea.

Youbit does not open how the incident takes place, according to the company statement “Cash and coins deposited after 4:00 pm will be 100% refunded.”

Bitcoin recent rise happened as fast as possible, and it crosses the $14,000 landmark for the first time in history, now it’s started dropping, it almost falls 17% percent Youbit announced today that it is closing down.
Bitcoin Exchange

Starting this December NiceHash suffered a data breach and the Bitcoin address circulated indicates around 4,736.42BTC which worth’s 68,169,547.78 USD has been stolen.

Some of Very Recent Cryptocurrency Breaches

1. CoinDash Suffered a Hacking Attack And Stolen $7 Million Worth Ethereum Cryptocurrency
2. World’s Fourth Largest Cryptocurrency “Bithumb” Hacked and Many Number of User Accounts Compromised
3. Cryptocurrency wallets Hacked by “CryptoShuffler” Trojan & Stole $140,000 From Many Wallet ID
4. Over 1.65 Million Users Infected By Cryptocurrency Malware Miners In 2017


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Guru baran
Guru baran
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

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