Cryptocurrency Exchange in South Korea to Pay for Investors Hacked Amount per Court – The Cryptocurrency Analytics


A South Korean court ruled that
the cryptocurrency exchange should reimburse the 25 million won ($20,800) to
its investors after it was hacked.  There
was to be a daily withdrawal limit in place. 
The attacker stole 45 million using the personal login details of the
investors. Considering the daily withdrawal limit of 20 million, the court
ordered that the CoinOne cryptocurrency exchange should reimburse 25 million,
the amount which was beyond the permitted withdrawal limit to the investor.

There was yet another
cyber-attack at Strathroy manufacturer. 

Const. Mark Thuss stated in an
e-mail, “The Strathroy Caradoc Police criminal investigation division is in
charge of the investigation and is in consultation with the OPP cybercrime
unit.” In a statement, it was revealed, “Industry experts in
cybersecurity, forensics, virus detection, and disaster recovery are part of
the team.”

In the past week, city hall
stated that they paid $75,000 in Bitcoin to the hackers to release their
computer network.

In a recent ransomware attack, a
hacker cut off access to personal files and demanded payment from the victim
either in credit card or cryptocurrency to make it available over again.
Following the event, Albany has been working with the State Information
Technology Services to determine the method by which hackers were able to
access the files.  They were working
closely with the FBI to decide who was responsible.

A teenager was recently arrested
in the UK for trying to hack the unreleased music of famous artists eventually
selling them for cryptocurrency. A 19-year-old was trying to access unreleased
material of “award-winning international superstars” to trade them for
cryptocurrency eventually.

See also  Invisible, but ubiquitous: The future of commerce and digital payments - Economic Times

Ordinary people were finding new
opportunities with cryptocurrencies. To provide for real value, a fully-fledged
cryptocurrency should be having two mutually exclusive properties to provide
for its security and cost.  The anonymity
factor of the Bitcoin attracted several users to its network for the new level
of financial freedom that is provided for its investors; however, this also
lead to hackers, and scammers misuse the process.

Bitcoin mixers provided some
transaction anonymity eventually providing for the protection of finances and
personal data. Bitcoin Mixer chopped down transactions into smaller payments
and sent them to different addresses making the tracking difficult.  Those who are scared to invest in cryptocurrency
for fear of hackers need to know that such services make it easy to venture
into the cryptocurrency market.



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