Korean cryptocurrency exchange to close after hacking

The exchange lost 17% of its total assets
19 December 2017   1507

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.

Binance Android App to Support CC Payments

Additionally, crypto-fiat exchange Binance Singapore was launched
25 April 2019   83

Binance has updated the application for the Android OS. Now users can buy cryptocurrency using their credit cards.

In particular, the feature of buying Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with your credit card is now available.

At the same time, the launch of the Binance Singapore crypto-fiat exchange took place. So far, only one trading pair is available to users of the site - BTC / SGD, but later in the listing other coins may appear.

Singapore users need not only to create an account, but also to link it to an account in the local Xfers payment service, which provides cryptowallet approved by local regulators.

It is noteworthy that earlier Xfers was a partner of Coinbase, when the latter launched its services in Singapore, but relations between the companies were terminated.