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It’s not a joke: Bithumb hacked again, reportedly lost around $19 million

Apr 01 2019
By
Jonathan Smith

 

It's no joke, one of the largest South Korean cryptocurrency exchanges, Bithumb, announced it was hacked. Hackers are thought to have made off with around $19 million worth of cryptocurrency in EOS and XRP, and the exchange suspects an insider job.

 

The company operating Bithumb, BTC KoreaCom Corporation, stated that an “abnormal withdrawal” of the cryptocurrency was first spotted through its monitoring system at 22:00 Korean time (13:00 UTC) on Friday, March 29. After noticing this, the exchange allegedly “secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.”.

 

More importantly, Bithumb said that all members’ assets are under the protection of a cold wallet and that the stolen cryptocurrency is owned by the company.

 

This is not the first time Bithumb was subjected to a hacker attack. In the summer of 2017, the computer of one of its employees was allegedly attacked, and the hackers managed to steal the personal data and passwords of nearly 31 800 or 3% of the users and stole 1.2 billion won (a little over $1 million) in altcoins and fiat currencies.

 

Bithumb is a leading South Korean cryptocurrency exchange. It offers spot trading in Bitcoin, Ethereum , Dash, Ethereum Classic, Litecoin, Dash, Ripple, Bitcoin Cash, Monero, Zcash, Qtum, and more. These are being traded mostly against the South Korean Won. 

 

TAGS: Bithumb  crypto-exchange  hack  South Korea  insider job 
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