South Korean Hacker Stole $6.7m from Dead CEO’s Crypto Wallets

29 Dec 2022 12:30 AM

By Tim Alper

A South Korean hacker stole $6.7 million from crypto wallets belonging to the deceased CEO of a business empire that included the crypto exchanges Korbit and Bitstamp.

Yonhap reported that a branch of the District Court in Eastern Seoul sentenced an unnamed 39-year-old man to six years in prison after finding him guilty of hacking the wallets of the NXC founder Kim Jeong-ju. Kim died earlier this year at the age of 54. The hacker was also fined $89,000.

Kim’s business empire included the South Korean gaming giant Nexon, which is listed on the Tokyo Stock Exchange. A keen crypto advocate, Kim also oversaw the purchase of Korbit. The platform is South Korea’s first crypto exchange – and is still one of its largest. He also bought Europe’s oldest crypto trading platform, Bitstamp.

To read entire article…Click Here!