Hackers Steal $32 mln from Cryptocurrency Exchange Bithumb | Be Korea-savvy

Hackers Steal $32 mln from Cryptocurrency Exchange Bithumb | Be Korea-savvy

Bithumb announced earlier today that a hack had occurred between late Tuesday night and early Wednesday morning, resulting in around $30 million worth of cryptocurrency having been stolen from the exchange.

South Korean cryptocurrency exchange Bithumb said about $30 million in virtual currencies that it held has been stolen by hackers.

Earlier this month, a relatively small South Korean exchange, Coinrail, tweeted that it had been hacked, and noted that lesser-known cryptocurrencies such as Pundi X were among those affected.

"Sorry we can't pay those back taxes, we just got hacked and surprisingly for the exact amount that we owed you, sorry fam". The first one affected a much smaller exchange Coinrail which lost nearly $40 million worth of cryptocurrencies.

"All assets of our customers are securely saved in Bithumb's cold wallet; hence all assets are completely safe and secured", the platform said in a statement posted to its website on Wednesday. It didn't provide details of the attack, but it did say it will cover any losses for its users. Less than two weeks ago, Coinrail lost approximately $37.2 million worth of coins following a hacking attack. Meanwhile, Japanese cryptocurrency exchange Coincheck lost more than $500 million to hackers in January. Bithumb has suspended all withdrawals and has asked customers not to deposit any more funds until further notice.




The market and the entire cryptocurrency world were taken aback by the news.

The exchange halted cryptocurrency deposits and withdrawals, said it will compensate victims and moved investor assets to a so-called cold wallet, which is disconnected from the Internet and less vulnerable to theft.

Some users reported on cryptocurrency-focused forums that they were missing Ripple (RPX) from their accounts, but this information was never confirmed by the exchange.

In order to explain the price recovery of Bitcoin, Magical Crypto Friends' Chikun has pointed to the good news coming from the Tether affair, whose audit appears to go well and without major incidents.

Some pundits blamed the Coinrail hack on the 11% "bloody Sunday" decline where hackers made off with around $40 million.

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