Bithumb faces new hack: about 3 million EOS lost

Posted 01 April, 2019

One of the leading Korean exchange – Bithumb – reportedly suspended deposit/withdrawal services over the past weekend.

The announcement of the service suspension was made by the company on its official Twitter account. At the same time, the reason behind this move was abnormal crypto withdrawals detected by the monitoring system at the platform. 

"We deeply apologize to our members for delaying the cryptocurrency deposit and withdrawal service, we would like to inform you of the circumstances of the grounds and confirm that your assets are safe," reads the statement in the social network.

As the company representative commented on this matter, all funds at the platform (Bithumb's and members') were transferred to a cold wallet once the exchange detected the hack.

The sources in the know stated that the platform probably lost 3.07 million EOS, which was withdrawn from the hot wallet during the hack attack. 

Meanwhile, the company expressed suspicions that the attack was made from inside having discovered signs of the external break.

It should be mentioned that Bithumb management has already informed about the hack the corresponding state authorities, including cybersecurity agencies, Korean Internet and Security Agency. Along with these measures, it was launched an in-house investigation as well as is "working with major exchanges and foundations and expect to recover the loss of the cryptocurrency equivalent. ".

Bithumb also added in the statement on the company's website:

"However, it was our fault that we only focused on the defence of outside attack and lack of verification of internal staff. We will do our best to resume deposit and withdrawal as soon as possible to secure the service's stability."

More details about the restart of the services at the platform are said to be revealed separately.

For reference, the previous attack on the exchange happened last June and caused about $30 million loss. 

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