Bithumb was hacked and 30 billion Korean Won worth cryptocurrency was stolen on the June 20th. After the incident took place. Bithumb asked its customers to not deposit any funds until further notice. Today Bithumb updated its progress and plan on its website.

Recovery of the Stolen Crypto Assets

According to Bithumb, they are working together with Cryptocurrency fund foundations and other exchanges to reduce the amount of damage. The Team is going through disaster recovery process and hoping that expecting to recover more cryptocurrency.

I apologize for the incovenicence to you, we will do our best to become a leading exchange that can be trusted by our members with more secure and convinent services. said Director Hye Bak Young Dream

All the crypto assets are moved to cold storage wallets and funds are moved to bank accounts. The number of damages will be covered by the company itself.

Securing the Platform

Bithumb is in a process of improving the wallet system by making it more secure. This process might take some time and due to delay might cause the problem to some investors but this is being done to protect the assets of the investors.

On the other hand, Bithumb is working with the National Police Agency and AhnLab to find the cause of this incident. They are also planning to release the financial report of the first half of 2018 in early July.

Share this post