Hacked South Korean Bitcoin Exchange Yapizon Offers IOUs

[jamie.redman1]

This past week a South Korean bitcoin exchange called Yapizon was hacked for 3816 BTC or roughly $5.3 million USD worth of bitcoins on Saturday, April 22. The exchange has made a statement concerning the hack and plans to offer an IOU token to its customer base to cover losses.

3816 BTC Stolen From the Korean Bitcoin Exchange Yapizon

According to the bitcoin exchange Yapizon, four of the company’s hot wallets were compromised on April 22, between 2:00 to 3:00 in the morning. Yapizon says roughly 36 percent of funds were stolen and they have filed a complaint with the Cyber Investigation Division of Seoul, the local police. After the hack, Yapizon says they have spoken with their legal team and have decided to split the loss among its customer base.

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