- Yapian, which owns the Youbit cryptocurrency exchange in South Korea, filed for bankruptcy following a hack.
- Yapian says it lost 17 percent of its assets.
- Customers will only receive 75 percent of their holdings until the company moves through bankruptcy proceedings.
Yapian, a company that owns the Youbit exchange in South Korea, filed for bankruptcy Tuesday after a hack that resulted in the loss of 17 percent of its cryptocurrency, according to a statement on its website.
(News of the hack was first reported by The Wall Street Journal.)
The exchange was used to purchase and sell cryptocurrencies including bitcoin and ethereum.
A translated statement posted by the company on its website said customers will be able to withdraw 75 percent of assets held there until the bankruptcy process is complete.
After a hack in April, the company said, it did its "best to improve the security, recruitment and system maintenance."