South Korean Bitcoin Exchange Suffers $5 Million Hack, Issues Bitfinex-Like Tokens
South Korean bitcoin exchange Yapizon was hacked earlier this week, losing more than US$5 million worth of user funds and bitcoin. According to the exchange’s official statement translated by CCN, four hot wallets of the exchange were hacked by an unknown group of hackers. The Yapizon legal team noted that approximately 37 percent of user funds were hacked and exactly 3,816 bitcoins were stolen from the exchange. Users of Yapizon outraged over the exchange’s decision to spread losses from the theft equally amongst all bitcoin accounts. Considering that the exchange lost 37 percent of its....
Related News
Bitfinex has taken new steps to reimburse accountholders who lost funds in an exchange breach earlier this year. In a blog post, the troubled exchange announced two special purpose vehicles (SPV) account holders can now use to exchange digital assets it issued for interest in iFinex Inc, Bitfinex's parent company. The exchange issued the assets, called BFX tokens, to accountholders after suffering a 120,000 BTC ($72m) hack on 2nd August. One SPV, the exchange said, was created in partnership with crowdfunding platform BnkToTheFuture, while another was part of an effort organized by....
But the threats by North Korea extend to the cyberspace department as well. South Korean officials claim the North has “an effective cyber army”, which has been responsible for various attacks over the past few years. The war between North Korea and South Korea is still going on behind the scenes to this very day. A new report surfaced as to how North Korean hackers stole data of over 10 million South Korean shoppers. While these claims have yet to be proven, the police are investigating the data breach. Once again, this is a clear example of how more secure solutions are needed to....
The South Korean exchange is bringing more services back online after suffering a major hack late last month.
On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses. On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay....
Lee Kwang-jae, a South Korean lawmaker, recently stated that he will be accepting cryptocurrency donations starting mid-January 2022. According to the politician, this plan represents his attempt to raise awareness about cryptocurrencies and non-fungible tokens among South Koreans.
Donations to Be Converted Into Korean Won
A Korean lawmaker, Lee Kwang-jae, has said he will start accepting cryptocurrency donations sometime in mid-January of 2022. According to the lawmaker, anyone that wishes to sponsor his campaign will be able to do so by directly transferring funds to his....