Bithumb announces resumption of deposit/withdrawal operations for 10 cryptos

Posted 03 August, 2018

South Korea-based Bithumb has stated that deposit and withdrawal service will be available for 10 cryptocurrencies beginning from August 4. However, other 25 cryptos show suspicious activity and operations with them will not be resumed.

According to the company report, Bithumb successfully carried out security system updated, and now users can deposit and withdraw bitcoin, Ethereum, Ripple, Ethereum Classic,Qtum, Litecoin, Bitcoin Cash, Monero, ZCash and Mithril, with the operations to be resumed upon completion exchange of the tokens into cryptos of the main networks.

As the platform said, prices for some cryptos traded on Bithumb differs from the standard market level by some 10%, and thus these coins will remain frozen as a way to protect the users, given that the rates can change fast upon the resumption of the operations.

100% operations with Tron and EOS are said to be resumed only after the complete migration of the projects into the main networks.

In addition, the exchange gave a notice that all deposit address was changed, so funds sent to the old addresses will be past recovery.

The restoration of Bithumb operations is reportedly considered as a positive sign for the crypto market in South Korea.

For reference, hackers attacked Bithumb in late June and stole about $31 million. Later, the exchange managed to halve the loss and in mid-July resumed withdrawals in national currency.

It was also reported that the platform suspended the registration of virtual accounts having no contracts with commercial banks.

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