S. Korea cryptocurrency exchange shuts down after hacking

S. Korea cryptocurrency exchange shuts down after hackingA South Korean exchange trading bitcoin and other virtual currencies declared itself bankrupt on Tuesday after being hacked for the second time this year, highlighting the risk over cryptocurrencies as they soar in popularity. It came eight months after nearly 4,000 bitcoin — then valued at 5.5 billion won ($ 5 million) and nearly 40 percent of the exchange’s total assets — were stolen in a cyber attack blamed on North Korea. “We will close all trades, suspend all deposits or withdrawals and take steps for bankruptcy,” the exchange said in a statement which did not assign blame for the latest attack.



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