Bitkoex to Report on Users' Data Leak

Another South Korean cryptocurrency exchange faced problems
26 June 2018   563

Bitkoex South Korean cryptoexchange, which was launched last month, reported on a leak of data of 19 Karma (KRM) tokens holders.

As Coindesk notes, the incident put at risk funds for a total of 750 million won ($ 620,000). Data contained email addresses of users of the trading platform, wallet addresses and private keys.

The problem arose because of the negligence of one of the employees of the recently opened trading floor. As it turned out, he published in the group chat of Kakao data on investments to Karma tokens, with the email addresses of the users of the trading platform and associated wallets, even with the relevant private keys.

Representatives of Bitkoex assured their clients that the actions were committed inadvertently. According to them, the funds that were compromised were immediately transferred to cold wallets, and therefore are in complete safety.

Last week largest South Korean exchange Bithumb was hacked. This event caused a significant response in the society and caused even greater tightening of the crypto regulation in the country.

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   93

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.