Bithumb Confirms Hack

The exchange tweeted that harshly $31.5million ter coins wasgoed stolen.

This morning from Seoul, Bithumb confirmed via tweet that it has bot hacked. Coins worth toughly $31.Five million (35 billion won) were taken off the exchange. Subsequently, the exchange shut down withdrawals and deposits, then began sending all available coins to cold wallets. Bithumb is presently ranked 6th largest exchange te the world by 24-hour volume.

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The exchange has not exposed which coins were taken, how many coins were taken, or where the coins were sent to. This brings into question how the stated stolen dollar amount is such a round number. Bithumb has evidently siphoned off communications with the media about the hack. Any more concrete information about the hack at this time is just speculation. The lack of transparency is unnerving to some investors who traded on the exchange. Spil of now the exchange has not accepted responsibility for the hack and has not accused any other party.

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This comes right on the high-heeled slippers of another attack at Coinrail less than Two weeks ago. Te that example, the destination wallet of the stolen coins wasgoed made public quickly so it could be determined how exactly what wasgoed taken and when. So far Bithumb has declined to opoffering such information to the public. The string of unfavorable news coming out of Korea has become a suspicious pattern. Hardly two weeks go by without more bad news te regard to cryptocurrency. The regular frequency of reports and relatively equal severity is dubious, which could lead some to believe that thesis reports have bot orchestrated for timing.

The price of Bitcoin dropped almost 5% ter just Two hours following the announcement.

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Potencial currency exchanges like Coinone, Coinrail, and Bithumb, all need far stronger oversight to be trustworthy. Trust te the exchanges that peddle the cryptocurrencies will only have positive effects on the market spil entire. Charlie Lee tweeted, “be brainy and only keep on exchange coins that you are actively trading. It’s best to withdraw right after trading.” Doing so, however, may not solve the problem since it is not a solution for the exchanges.

3 comments / Add your comment below

  1. I also used this exchange and so far not any problem with them. My Deposit, Trading activity and withdrawal running slickly. This is good exchange and many altcoin available to trade there, just need more volume.

  2. Not sure how but some one attempting since 6 months to login into my cryptopia account despite i switched password Four times, thank maker email 2FA is activated

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