Insurance Service Refused to Hacked Youbit Request

Youbit hacks investigation is still in the initial stages
29 March 2018   210

South Korean Exchange Youbit received a refusal to request, sent to the insurance service, a few months after a hack.

In December, Youbit declared itself bankrupt, after hacked twice during 2017. The last attack resulted in the loss of 17% of the exchange's assets and its subsequent closure.

According to the Wall Street Journal, the exchange contacted the insurance service in accordance with the procedure, which she was informed about several weeks before the second hack. However, the insurance company DB Insurance Co. refused to meet her demands.

Although the insurer did not comment on the situation, WSJ managed to contact Yapian, the operator of the Youbit exchange. It said that DB Insurance accused them that they were in a hurry to get insurance and did not provide important information at the time of discussing the terms of insurance.

In the meantime, the investigation continues into two hackings of the Youbit exchange and the possible involvement of North Korean hackers. WSJ reports that the process is in the initial stages, and the investigation did not go beyond the stage of studying the malicious software used to carry out attacks.

Nexon Can Buy Bitstamp For $350M

Bitstamp is one of the oldest cryptocurrency exchanges and has 3 million users
25 April 2018   51

South Korean company Nexon is negotiating the purchase of the oldest bitcoin-exchange Bitstamp, founded in 2011. This is reported by Business Insider with reference to informed sources.

According to the publication, the deal can amount up to $ 350 million. In addition, according to sources, Bitstamp is negotiating with another unnamed buyer.

Bitstamp takes the 13th place among the crypto-currency exchanges in the daily trading volume and has 3 million registered accounts. It should also be noted that this platform is the only licensed in Europe.

Representatives of both organizations refused to confirm or deny the fact of the negotiation process, however, Bitstamp advised the media to closely monitor all official statements regarding this issue.