South Korea News - Bitcoin to be regulated, Company pays 1 Million USD to Hackers
Yesterday i gave news from Japan, Australia, USA today i have 2 news from South Korea.
Nayana Pays 1 MIllion USD in BTC to Hackers
Nayana which is a big hosting company got attacked by Erbus ransomware - the virus that encrypts all data on computers and wants BTC to be paid for them.
Sadly over 150 of their servers were encrypted by the virus causing almost 3,5k of their clients websites to go offline for 8 days.
When company saw nothing can be done, they paid BTC to attackers to bring back their clients websites online.
The problem started at 10th, with this blog post
Lousy google translate version:
Due to some problems even after paying all files that had Korean titles/names couldnt be recovered so they got lost.
While its of course bad that this happened since tech companies should be more secure its worth nothing how this company really cares of customers and did what they could, even paying this huge amount to hackers, to get everyone back online.
Im postivie loads of companies would just go bancrupt but this guys are the fighers.
Korean Gov to Legalize and Regulate Bitcoin
This is to avoid tax evasion and money laundering but also making current exchanges fully legal and cover users with potential law against unfair exchanges. Financial Services Commission will have to approve exchanges if this passes to let them operate.
Due to lousy Google Translates this is what i more or less understood. If you have more info please write in comments i know we have active KR people here who can help with more info.
Current Korean Exchanges Volume
Notice that 3 Korean exchanges are in top17 of volumes and Bithumb is actually placed at 4th position.
Bithumb Markets
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UPDATE - BITHUMB HACKED
With a reported 75.7% share of the South Korean bitcoin market volume, Bithumb is one of the five largest bitcoin exchanges in the world and hosts over 13,000 bitcoins worth of trading volume daily, or roughly 10 percent of the global bitcoin trade.
https://bravenewcoin.com/news/fourth-largest-bitcoin-exchange-bithumb-hacked-for-billions-of-won
That's some unfortunate news. I wonder if this will budge BTC prices at all.
Hahah, hilarious!
Could this lead to crypto currency long term bearish move?
Good luck with said regulation. Governments, prepare to get fucked.
I don't feel hacking can ever be truly prevented. Every creation has a creator and more often than not all creators with power abuse it. Whoever truly created bitcoin without a shadow of doubt knows how to obtain every single token at any moment...rest assure that! Very nice share @kingscrown
This is very ignorant and incorrect. What do you have to back this up - just a gut feeling based on your lack of knowledge?
Please tell me how can a programmer create something and not know how to control their creation? I designed all the codes of my new video game called jacobt...and every single code I have stored on my files, I have this game synced to be played with billions and trillions if possible online. At any given moment I have the crash code button, at any given moment I have the shutdown interactions button, let me tell you something sir...with all due respect! You can't think of any thought that hasn't already been thought of, try to create a word or idea without using any letters or ideas currently used. Bitcoins are created and like any creation...it can be destroyed, cheers!
UGH... for starts the entire bitcoin core code is on github, and open sourced. It's been audited and peer reviewed probably more than any other code in existence today.
Just because you spew shit form your mouth doesn't make it correct, valid, or even remotely entertaining. Instead of doing this, why don't you ask questions.
To further complicate this conversation, here's something for both of you to ponder:
http://www.zerohedge.com/news/2017-06-12/exposed-real-creator-bitcoin-likely-nsa-one-world-currency
He lacks knowledge @jabobt:) patience with these kinds, eventually they will realize the power of bitcoin and crypt o, cheers!
Thank u for your information.
The Blockchain cannot be regulated. If they try, they will be fucked so hard they will not dare to even dream about the letter B anymore, filthy parasite officials.
Their IT is so weak for a big company in KR. If I were them, I will use the money to invest in a better IT team then pay to the hacker I think. Many people in the world think IT is not important and they do not spend resource on IT. That is why they pay to hacker.
So all the Asian countries are taking over bitcoin by legalizing and it will create some interest for the citizens and i do expect some heavy investment like we saw when Japan legalized bitcoin and more people will start investing in bitcoin which could make some difference in the price of bitcoin.
Been saying that for a while now, esp. in the U.S. between "cavity searches" for your smart phone through customs and on highway pullovers (you know, to make sure you weren't risking lives texting through your blue tooth connection or something), it's gonna get a lot worse before it starts getting better...
Did hear one funny (if not sad) story recently that one TSA agent was apparently giving special pat-downs trying to catch people attempting to smuggle bitcoins through customs. You really just can't make this stuff up! lol
it would be handy to carry some of those commemorative physical bitcoins you can get on ebay to "surrender" them to the TSA thugs
I see a new currency. 'Decoy Coin!' the physical crypto that distracts the TSA.
lol wat? XD
Wonder how they picked who they were going to search for bitcoins?