South Korean cryptobirge Coinbin (formerly Youbit) declared bankruptcy after it discovered a shortfall of 29.3 billion won, according to CCN .
On the website of the marketplace published a notice that Coinbin is forced to stop operations due to "debt growth", as well as due to "government regulation".
“We are planning to start bankruptcy proceedings due to the growth of debts after the funds were spent by an employee of the exchange ,” said Park Chang-Q, CEO of Coinbin.
According to him, the possibility of withdrawing funds in cryptocurrency and fiat money has been suspended since February 20. Payments to users will be made in accordance with the procedures provided by law.
Pak also noted that his employee deleted cryptocurrency keys from "hundreds of wallets" containing bitcoins and more than 100 ETH. The attacker acted intentionally, in order to assign digital assets equivalent to $ 26 million.
Coinbin acquired Youbit in 2017. Prior to this, Youbit twice a year has been cracked , and then declared bankruptcy.
Earlier, BlockchainJournal reported that out of 21 South Korean stock exchanges, only seven were able to successfully pass a security audit.
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