Investing.com – A South Korean cryptocurrency trade filed for chapter after it was hacked for second time this 12 months, highlighting considerations about safety as commerce in bitcoin and different digital currencies increase. The trade, referred to as Youbit, introduced on its web site Tuesday that it had been hacked, inflicting a loss value 17 p.c of its complete property. That was the second hack this 12 months after a cyber assault in April when practically 4,000 bitcoins have been stolen. Youbit didn’t elaborate on the quantity, however stated all clients’ cryptocurrency property will likely be marked all the way down to 75 p.c of its worth, including it has stopped buying and selling and can work to reduce buyer losses. Separately, South Korea’s Financial Supervisory Service stated Tuesday it doesn’t think about bitcoin and different cryptocurrencies to be currencies of any type and wouldn’t search to manage their commerce past guidelines introduced final week. “All we can do is to warn people as we don’t see virtual currencies as actual types of currency, meaning that we cannot step up regulation for now,” FSS governor Choe Heung-sik stated at a press convention. https://invst.ly/64u4s
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