Coinbin, which acquired Youbit in 2017, is final operations as the results of embezzlement from a senior government, native media together with English-language useful resource Business Korea due to this fact reported.
“We are preparing to file for bankruptcy due to a rise in debt following an employee’s embezzlement,” the e-newsletter quoted CEO Park Chan-kyu as pronouncing.
According to to be had data, the determine in command of cryptocurrency control is on the heart of the scandal, having in the past served as CEO of Youbit. The latter ceased to exist in December 2017 after two main hacks made operations now not imaginable.
The government, referred to as Lee, reportedly appropriated the non-public keys of a number of hundred Bitcoin (BTC) wallets, whilst claiming to lose the important thing for an Ethereum (ETH) pockets containing 100 ETH.
The overall budget lacking these days quantity to 29.three billion gained ($26 million), of which 2.three billion ($2 million) is reported as misplaced.
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