Bithumb Cryptocurrency Exchange Was Hacked – Hackers Have Stolen $31 Million In Cryptos

The South Korean Bithumb cryptocurrency exchange platform, one of the most important in the cryptocurrencies market, suffered a hack on its platform on June 19th, through which about $31 million in cryptocurrency was stolen.

The information was provided by the company through its Twitter account, where it announced to the public that due to hacking, all deposit and withdrawal services were suspended to ensure security, adding that the stolen cryptocurrency would be covered by the cryptocurrency exchange platform and the assets transferred to a cold wallet on an offline platform.

Hours after the announcement the next tweet was deleted, for no apparent reason, and they only mentioned not to deposit on their platform while they do security checks and also alerted users of the platform to the change their passwords.

It should be noted that as soon as the hacking announcement was made, the cryptocurrencies market suffered a depreciation, with Bitcoin (BTC) falling over $200 within a few minutes.

Bithumb becomes the second South Korean cryptocurrency exchange platform to be hacked within about two weeks

Bithumb is one of the most important cryptocurrency exchange platforms in South Korea, with the second largest volume in the market.

Among the Bitcoin (BTC) exchange operators in the world, it is ranked 21st, with a daily volume of about $40,500,000 in BTC exchanges and totaling $381,000,000 in other cryptocurrencies exchanges.

Bithumb launched in 2013, and the South Korean media reports that by the end of 2017 the cryptocurrency exchange platforms had reserves of about 6.918 billion dollars.

With this cyber attack, Bithumb cryptocurrency exchange platform becomes the second South Korean crypto coin dealer to fall victim to a hack in less than two weeks. On June 10th, another cryptocurrency exchange platform in that country, Coinrail, also suffered a hacking operation where 30% of its funds were stolen, a fact that is currently under investigation by the Korean Internet and Security Agency (KISA).

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About the Author: Anna Galvez

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