After a hacker attack South Korean crypto exchange UpBit has lost some 342 000 Ethereum (ETH) coins, equal to well over 49 million USD.
The exchange has assured its clients that the loses will be covered by its own assets, but for the time being all withdraws have bees suspended. The company says that it will take at least two weeks before its services are restored.
The attack tool place on Wednesday and 30 minutes later, Upbit announced that it had temporarily suspended withdrawals and deposits due to server maintenance.
Just another day in crypto lol
Sadly these incidents have become routine, indeed. 
The funds are on the move. It’s sad that the funds can be traced, but nothing more can be done.
And it sounds like an inside job.
The theft occurred at a time when the exchange was allegedly moving assets between hot and cold storage facilities, leading some to speculate that the incident may have been an inside job rather than an external breach.
Frankly, this is a reason why cryptoexchanges need to be more heavily regulated. How often do banks get robbed through an inside job? I am not saying it doesn’t happen, because it does, but I don’t think it happens nearly as often.
Regulation will be good for crypto
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I wonder whether it can stop suck hacks though.