Coinbin declares bankruptcy
Youbit's crypto exchange announced bankruptcy after financial damage of approximately $26 million
The news was released by Business Korea, a local South Korean media. Coinbin CEO Park Chan-kyu also said the bankruptcy was a consequence of a debt acquired after the embezzlement of funds made by one of the employees.
The employee was Youbit’s CEO, an executive in charge of managing digital currencies who abandoned Coinbin and misappropriated the company’s assets.
Park said in November last year the executive reported that he had mistakenly removed hundreds of bitcoin address keys containing funds. Similarly, he said he had lost the key of an address containing more than 100 cryptomonedas of ethereum.
For his part, Coinbin’s CEO assures that these actions were not committed by mistake, but intentionally, since the suspect and former CEO of Youbit was an expert in the cryptographic ecosystem.
Before this situation, the exchange operations in Coinbin were stopped, both cryptoactive and trust money transfers and from now on all transactions will be carried out under bankruptcy procedures.
It should be remembered that the Coinbin crypto exchange took over Youbit after the last one was declared bankrupt at the end of 2017, after being hacked a second time.
L.Sáenz
Source: Bitcoin.es
