Audio By Carbonatix
A crypto-currency exchange in South Korea is shutting down after it was hacked for the second time in less than eight months.
Youbit, which lets people buy and sell bitcoins and other virtual currencies, has filed for bankruptcy after losing 17% of its assets in the cyber-attack.
It did not disclose how much the assets were worth at the time of the attack.
In April, Youbit, formerly called Yapizon, lost 4,000 bitcoins now worth $73m (£55m) to cyberthieves.
Crime wave
South Korea's Internet and Security Agency (Kisa) which investigates net crime, said it had started an enquiry into how the thieves gained access to the exchange's core systems.
Kisa blamed the earlier attack on Youbit on cyber-spies working for North Korea. Separate, more recent, attacks on the Bithumb and Coinis exchanges, have also been blamed on the regime.
No information has been released about who might have been behind the latest Youbit attack.
In a statement, Youbit said that customers would get back about 75% of the value of the crypto-currency they have lodged with the exchange.
It said it was "very sorry" that it had been forced to shut down.
The exchange added that the hackers did not manage to steal all the digital cash it held because a lot was lodged in a "cold wallet" - a secure store used to hold the assets that were not being traded.
Youbit was one of the smaller exchanges active in South Korea. The majority of Bitcoin trading in the country is done on the Bithumb exchange which has a 70% market share.
More and more cybercriminals have tried to cash in on the boom in virtual currencies such as Bitcoin. Many have created malware that seeks to use victims' computers to create or "mine" valuable currencies. Others have simply attacked exchanges and other crypto-cash service firms to get at large numbers of bitcoins at once.
Earlier this month, hackers got away with more than $80m in bitcoins from NiceHash, a Slovenia-based mining exchange.
Latest Stories
-
NAIMOS seizes excavator, destroys shelters at Kakra
13 minutes -
Benin coup plot leader hiding in Togo, official tells BBC
17 minutes -
Trump veers off-script and does little to calm Republican nerves
25 minutes -
Interior Minister launches online digital services portal to transform public service delivery
35 minutes -
ECOWAS announces tax-free air travel across member states from January 2026
38 minutes -
NDC Kpandai PC files application for EC to be cited for contempt for failing to organise rerun
39 minutes -
Metrohm Central Africa opens Ghana hub to boost industrialisation and quality standards
47 minutes -
NSA rejects claims of ‘Special Posting’ payments, warns against fraudulent schemes
48 minutes -
SSNIT implements new Annual Pensioner Certificate Renewal Policy for all pensioners
56 minutes -
Sacked Cameroon coach names Onana in AFCON squad
59 minutes -
EC sets December 30 for Kpandai election re-run
1 hour -
Ghana’s World Cup draw with England: A golden PR moment waiting to be claimed
1 hour -
Ghana to introduce VAT Reward Scheme to encourage compliance – Dr Ato Forson
1 hour -
Ghana signs seventh bilateral debt restructuring agreement with Czech Republic
2 hours -
I don’t enjoy prosecuting, but Ghanaians won’t forgive us if we allow impunity in public office – Mahama
2 hours
