Hackers steal $30 million in cryptocurrency from Bithumb
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Bithumb, one of the largest cryptocurrency exchanges in Korea, was hacked on Wednesday, causing the exchange to lose more than $30 million worth in cryptocurrencies.
“We noticed that between last night and today early morning, about 35 billion won [$31.5 million] worth cryptocurrencies have been stolen,” Bithumb said through an announcement on its website on Wednesday. “Cryptocurrency deposit/withdrawal and Korean won withdrawal service will be halted for time being and until services are thoroughly reviewed.”
“We are still checking on which currencies have been leaked, but so far, we discovered that the hacked coins include Ripple,” said a spokesperson from the exchange.
According to the Bithumb spokesperson, 100 percent of the coins and tokens traded through the exchange are stored in offline cold wallets.
“This loss will be compensated by Bithumb’s own reserves, and all the assets of our customers are securely saved in Bithumb’s cold wallets, hence all assets are completely safe and secure,” the company said in the announcement.
Questions & Answers
Q.What is the total value of cryptocurrency stolen from Bithumb?
What is the total value of cryptocurrency stolen from Bithumb?
Bithumb reported that approximately 35 billion won worth of cryptocurrencies, which translates to about $31.5 million, was stolen in the hack. This figure represents the estimated loss from the incident.
Q.Will customers' funds be affected by this cryptocurrency theft?
Will customers' funds be affected by this cryptocurrency theft?
No, Bithumb has stated that customer assets are completely safe and secure. The company will use its own reserves to compensate for the loss, as all customer funds are held in offline cold wallets.
Q.Which specific cryptocurrencies were stolen in the hack?
Which specific cryptocurrencies were stolen in the hack?
While Bithumb is still reviewing which currencies were leaked, they have confirmed that Ripple was among the hacked coins. A full list has not yet been provided.
Q.What measures has Bithumb taken regarding its services after the hack?
What measures has Bithumb taken regarding its services after the hack?
Bithumb has temporarily halted its cryptocurrency deposit/withdrawal and Korean won withdrawal services. These services will remain suspended until a thorough review is completed.