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Hackers Steal Crypto from South Korean Exchange Bithumb

Jake Hill
Jake Hill

Bithumb, one among the largest cryptocurrency exchanges in South Korea, announced that 35 billion won ($31.5 million) worth of cryptocurrency was stolen by hackers. This is the 2nd regional exchange to undergo the fate in only over a week after Coinrail Hack.

It’s unclear at what time that the theft happened, but Bithumb frozen deposits and instantly started shifting most its own assets to cold wallets to stop additional losses.

Bithumb team said that some of the cryptocurrency valued about $30,000,000 was stolen and these stolen cryptocurrencies will be covered by them. This was announced through a tweet from their account.

During this Bitcoin dropped from roughly $6,718 to $6,611, subsequent to tweets out of Bithumb. After a while, the price then started regaining and Bitcoin traded at $6,652.

Image from CoinMarketCap.com

Bithumb ask’s its customers to not to deposit any funds into Bithumb’s wallet addresses until it has recovered.

Bithumb announced an update On Recovery and Security of The Platform.
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bithumbcryptohacking

Jake Hill

Coming from a University Education in Computer Science, I am interested in blockchains and Bitcoin since 2014 and even mined at the time. The rumors of Bitcoin bubble made me run away, but I have com