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.

Previous story

20 June, 2018 13:45

← Crypto miners to face steep electricity prices in Quebec

Quebec is reportedly considering the ways to cope with soaring power demand from crypto miners and while then, this sector will face extra high electricity prices. The local regulator Regie de l’energie enabled Hydro-Quebec to boost the costs almost 3-fold to some 15 cents KWh for blockchain companies. Notably, the new tariffs are unlikely to cover the existing consumers (some 120 MW in total).

Crypto miners to face steep electricity prices in Quebec

Next story

20 June, 2018 10:33

US dollar generally stable amid decreasing risk aversion →

The US dollar has mostly stabilized vs the majors in the middle of the week on lower risk-off demand driven by growing US-China trade tensions. However, the currencies have remained under pressure of the conflict. On Wednesday morning the US Dollar index was recorded at 94.80. The rate reached almost a year high yesterday following the statement of Donald Trump about...

US dollar generally stable amid decreasing risk aversion
Write a comment
Prove you’re not a bot + 20 = 26