North Korea is accused of having hacked into the platform of south Korean Youbit

Earlier this week, one of the most important platforms in south korea, trading Bitcoin, Youbit, has been the target of large scale piracy that has led to the theft of a fifth of the total funds of the users.


Suspicions based on the hacking tools used

According to the Wall Street Journal, sources close to the ongoing investigation into the security breach of Youbit have discovered tell-tale signs and evidence that suggests that the hackers are funded by the State in north korea, which have probably hired and initiated the cyber attack. Last September, the firm’s security research FireEye revealed in a research paper that he had found evidence linking many of the cyber attacks against platforms of exchange of crypto-currencies to North Korea. These conclusions come from the analysis of the tools used to hack the platforms for crypto-currencies in south korea.

Over the next few weeks, the agencies of south Korean law enforcement and cyber-security should focus on the search for solid evidence to link the cyber-attack against Youbit to the hackers from north korea.


Users of Youbit can take a very long time

Almost immediately after the cyber attack, the parent company of Youbit, Yapian, has filed for bankruptcy. In an official statement, the team Youbit announced to its users that 75 % of their assets on the platform would be accessible and ready to be removed. But, to claim the rest of the funds, that is to say, the remaining 25%, the company said that the investors will have to wait for the final settlement of bankruptcy proceedings. In the case of Mt. Gox, which was once the largest platform of exchange of Bitcoin in the global market of the crypto-currency, the settlement of the bankruptcy proceedings took more than four years. However, the creditors of Mt. Gox, have not yet received their funds, and the procedure is still in progress.

Source : Cointelegraph