Youbit, a South Korean bitcoin exchange, collapsed on Tuesday after it was reportedly hacked into and $35 million worth of tokens were stolen.
Today, it’s being reported that South Korea is looking into a possible North Korean involvement in the hack.
Earlier this week the U.S. officially declared North Korea as being responsible for the global WannaCry ransomware attacks that struck a quarter of a million computers across 150 countries earlier this year.
There’s also a rumor going around that North Korea would see bitcoin gains as an attractive offset to their cash-strapped position. Moreover, the phenomenal rise of bitcoin prices would make them an ideal target for hackers based in the region.
It is not known at this point whether or not the attack originated in North Korea, but that’s where all fingers seem to be pointing.
Yapian, the company that operates Youbit, has filed for bankruptcy after the attack.
Interestingly, the company reportedly purchased a cyberinsurance policy covering it for up to $2.8 billion just this month, but no claim has been raised so far according to a Wall Street Journal report.
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