One more South Korean exchange falls victim to hackers

Posted 20 June, 2018

One of the key crypto trading platforms – Bithumb – faced a hack attack leading to loss of some $31 million (KRW 35 billion).

According to the news reports, the company stated in its statement that all deposit/withdraw operations have been suspended by now. The exchange is said to be hacked between Tuesday-Wednesday.

"All deposit and withdrawal service will be stopped to make sure the security. We will keep notifying you of the restart of the service. We apologize for your inconvenience and thanks for your understanding," noted the company in the social network.

Bithumb is yet to provide the list of coins that were stolen, though they said that the platform would repay all the funds to the victims. As for the assets left on the exchange, all money will be transferred to a cold wallet.

In the view of the last hack, Bitcoin prices decreased shortly after its announcement. As a result, Bitcoin lost 1.5%, though earlier it had been steadily rising. Moreover, the total market capitalization also dropped by about 2%.

For reference, this is the second attack on South Korea-based platforms for over a month. Specifically, a few weeks ago another local exchange, Conrail, was hacked and lost some $40 million.

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20 June, 2018 13:45

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