Korean Cryptocurrency exchange about to be closed

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Flash Back: Around 4k bitcoins were stolen in result of  a major cyber attack on Youbit in April 2017. Youbit is about to file bankruptcy after embracing 17% loss in assets. Up to 35 exchanges have been closed already moreover there are rumors of amidst closure of local bitcoin exchanges in China.
A South Korean Cryptocurrency exchange(platform for trading) is to file bankruptcy after it became hacked for the second time this year, highlighting issues about security amid booming trade in bitcoin and different virtual currencies.
the bitcoin exchange Called Youbit, were hacked as soon as earlier than in April whilst almost 4,000 bitcoins had been stolen in a cyber-attack that the united states’s spy agency related to north Korea, consistent with a latest south Korean newspaper record.
Youbit introduced on its website on Tuesday that it were hacked at 4:35am neighborhood time, inflicting a loss really worth 17% of its general assets.

It did no longer intricate on the amount, but said all clients Cryptocurrency assets could be marked right down to 75% in their price. it introduced that it had stopped buying and selling and might paintings to minimize client losses.Bitcoin traded at round $18,800 on Tuesday morning. it made its debut on the world’s largest futures exchange on Sunday nighttime, while the Chicago mercantile change (CME)) became the second trade to provide bitcoin derivatives buying and selling.The January 2018 contract initially spiked above $20,000 but later dropped again, having been originally priced at $19,500.But its debut become overshadowed by using a chain of warnings from politicians and others on virtual currency.youbit is a smaller participant in south korea’s cryptocurrency market, at the same time as the sector’s busiest cryptocurrency alternate, bithumb, money owed for about 70% of the USA's market proportion. An official at korea net & protection business enterprise (kisa), the kingdom iterated that the police and kisa officials were beginning an investigation into the hacking.