Poor Key Management
Private key leak, hot wallet, Lazarus hacking group
Youbit, which lets people buy and sell bitcoins and other virtual currencies, has filed for bankruptcy after losing 17% of its assets in the cyber-attack. It did not disclose how much the assets were worth at the time of the attack. In April, Youbit, formerly called Yapizon, lost 4,000 bitcoins now worth $73m (£55m) to cyberthieves. Youbit said hackers broke into its hot wallet, the online account used to pay out cryptocurrencies instantly. While hot wallets offer greater convenience, they also put funds at greater risk because they are connected to the internet. The hack resulted in the loss of 17 percent of its assets (estm from bankrupte value of 4.42M)
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