South Korean Exchange Youbit Denied Insurance Claim Following December’s Devastating Cyberattack

DB Insurance — one of South Korea’s four biggest property and casualty insurers and the company that holds South Korean cryptocurrency exchange Youbit‘s policy — has denied a claim that the exchange filed after a hack in December of last year drained it of “about 17% of [its] total assets.” Youbit claimed that the insurance money, which could have added up to $2.8 million total, would be used to pay out customers affected by