Nearly $50 Million of Ether Swiped From South Korean Cryptocurrency Exchange

Nearly $50 million was swiped from a South Korean cryptocurrency exchange, the industry’s latest setback as it struggles with problems still plaguing cryptocurrencies and the venues where investors trade them.

Upbit, one of South Korea’s largest crypto exchanges, said 342,000 ether coins—worth roughly $49.2 million—were sent to an unidentified crypto wallet Wednesday afternoon. The company revealed the wallet address where the coins were sent and said it reported the incident to South Korean authorities who are investigating…

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