Michael Telvi | The Local Dix Hills Entrepreneur

Bithumb Hacked, Loses $30 Million

Seoul-based cryptocurrency exchange Bithumb has been the victim of another apparent hack. The exchange announced on twitter that $30 million worth of undisclosed cryptocurrencies had been stolen from the exchange.

[Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.

— Bithumb (@BithumbOfficial) June 20, 2018

Bithumb suspended deposits and withdrawals and immediately began transferring all of its assets to cold wallets to avoid anymore losses. The company also announced that they would cover all losses so users would not be affected by the hack.

Currently Bithumb is the worlds sixth-largest cryptocurrency exchange. According to CoinMarketCap they have a daily trading volume of just over $330 million.

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