💸 342,000 ETH (~$50M) Hacked from Upbit 💸
Yikes! 💸 342,000 ETH (~$50M) Hacked from Upbit 💸
Major South Korean cryptocurrency exchange Upbit has notified users of the theft of 342,000 Ether (ETH) from its hot wallet via a on-site notice.
Upbit CEO, Lee Seok-woo has pledged to cover losses (342,000 ETH) through corporate asset and have already moved crypto assets held in its hot wallet to cold storage.
Deposits and withdrawals will take at least two weeks to resume, with Lee Seok-woo promising to inform users as soon as they reopen.
In other news related to Crypto in Korea...
✨ South Korea Progresses Bill to Bring Regulatory Clarity
South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country by categorizing virtual currencies as digital assets.
Under the bill, all crypto-related businesses in South Korea would be required to register with the Financial Services Commission’s (FSC) Financial Intelligence Unit (FIU) and report to the authority.
If approved, the law would come into force in 2020.
Meanwhile, Steem price reported to be up +13% today in the last 24 hours
this is sad, i love that exchange
steem price has risen you're right - but Grandfather will go lower (this is my firm belief) and there will be perhaps the last chance to buy at 0.10-0.09 (prepare cash) 😈
And That's not gonna happen 😝
time will tell 🤟😉
Damn .... and I'm thinking that my crypto is safe :)
Always remember, Not your Keys, Not your coins!
wakwaoo
Posted using Partiko Android
Good that Steem price is up but such hacks are very bad.
Posted using Partiko Android
Very bad news. Huge losses for Upbit.
Posted using Partiko Android
lol damm black friday sales came early, we probably gona hit 6k by end of this week
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