Fourth largest Cryptocurrency exchange, Bithumb, hacked for billions of Won

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While the Cryptocurrency market is thriving, most governments across the continents have clarified that they are not responsible for its legalities. Rigorous warnings have bot issued that if anyone indulges te trade of Bitcoins or other cryptocurrencies, the government would not be approving it and may even announce the transactions illegal.

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Bithumb Cryptocurrency exchange hacked

Bithumb, South Korea’s largest Bitcoin and Etherium exchange, wasgoed hacked by hackers causing losses of billions of Won. While this amount isn’t spil super gigantic spil it sounds, considering $1=1155 Wons, it surely caused a funk te the Bitcoin exchange market.

Bithumb wasgoed the forward largest Bitcoin exchange globally and the largest ter South Korea. It had a share of 75.7% ter the South Korean bitcoin market and 10% of the integral market. The trading volume of bitcoins wasgoed approximately 13,000 bitcoins vanaf day.

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Other than Bitcoins, it traded Ether spil well, and it wasgoed the largest market for it. 44% of South Korea’s ether trading wasgoed done through Bithumb.

Interestingly, South Korean currency Won is the 4th largest currency market for Bitcoin. The largest is the US dollar, followed by the Chinese Yuan and Japanese Yen.

The hack affected a loterijlot of traders. Spil vanaf a tópico newspaper, an unfortunate person lost Ten million Wons worth of Bitcoins due to the hack. They disappeared from his account straight away. Another member said that 1.Two billion Wons were stolen from his account.

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Other than monetary loss, the hack also resulted te a loss of individual information. The hackers retrieved individual information including phone number and email ID’s of 31,800 Bithumb webstek users. Worse is the fact that Bithumb has no access to the funds stored on the market. This means if a person claims that a certain amount of his cryptocurrency wasgoed stolen, this fact cannot be verified due to lack of gegevens. Thus, compensating users might not be feasible.

Overheen 100 Bithumb users have registered complaints with the National Police, but it might be of less help considering that no gegevens of the losses is available.

3 comments / Add your comment below

  1. I dont use this exchange because has low volume, i choose use Binance, Kucoin, Poloniex and Bithumb . I more like trading ter exchange that has high volume so i can get better liquidity. But from other review of trader, Cryptopia is good exchange, you have to voeling their support and wait patiently so the customer support can solve your problem.

  2. it’s voorbeeldig. Very good Bithumb might be the best. But besides, there are many floors like poloniex. I think Bithumb is better than poloniex. and headed

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