Coinbin, a South Korean crypto exchange, has now filed for bankruptcy, owing nearly $ 30 million to its clients and being unable to pay. This is evident from a message from on Twitter on 20 February.

Coinbin previously acquired the former Youbit trading platform in 2017. However, the current inability to pay is due to the actions of a senior executive who is said to have embezzled funds on a large scale, as the English-speaking Business Korea reports. So it says in the appropriate message:

“We are preparing for bankruptcy because one of our employees is involved in misappropriation of funds,…

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Source: https://thebitcoinnews.com/coinbin-has-filed-for-bankruptcy-due-to-the-loss-of-the-wallet-managers-private-key/