Youbit, a South Korean cryptocurrency exchange, said on Tuesday it is shutting down and is filing for bankruptcy after it was hacked for the second time this year.
Youbit announced on its website that it had been hacked at 4:35 am local time on Tuesday, causing a loss worth 17% of its total assets. Youbit had been hacked once before in April when nearly 4,000 bitcoins were stolen in a cyber-attack that the country’s spy agency linked to North Korea.
The exchange did not specified the amount, but said all customers’ cryptocurrency assets will be marked down to 75% of its value, adding it has stopped trading and will work to minimize customer losses.
An official at Korea Internet & Security Agency (KISA), the state agency that responds to cyberattacks, said the police and KISA officials were starting an investigation into the hacking.