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ID:

youbit-yapizon-coinbin-789

Date:

Status:

Incident Count:

December 19, 2017

Verified

3

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

4,420,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Exchange

Assets

Key Management

Extended Method:

Private key leak, hot wallet, Lazarus hacking group

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Days in Operation:

41075

(112.53 Years)

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Youbit, which lets people buy and sell bitcoins and other virtual currencies, has filed for bankruptcy after losing 17% of its assets in the cyber-attack. It did not disclose how much the assets were worth at the time of the attack. In April, Youbit, formerly called Yapizon, lost 4,000 bitcoins now worth $73m (£55m) to cyberthieves. Youbit said hackers broke into its hot wallet, the online account used to pay out cryptocurrencies instantly. While hot wallets offer greater convenience, they also put funds at greater risk because they are connected to the internet. The hack resulted in the loss of 17 percent of its assets (estm from bankrupte value of 4.42M)

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